NAM TAI ELECTRONICS INC, 6-K, 1998-03-26

NAM TAI ELECTRONICS INC
6-K, 1998-03-26
OFFICE MACHINES, NEC

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FORM 6-K

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

REPORT OF FOREIGN ISSUER

Pursuant to Rule 13a-16 or 15d-16 of the
Securities Exchange Act of 1934

For February 20, 1998
March 12, 1998
March 16, 1998
March 23, 1998
March 25, 1998

NAM TAI ELECTRONICS, INC.
(Registrant's name in English)

Unit 9, 15/F, Tower 1
China Hong Kong City, 33 Canton Road
TST, Kowloon, Hong Kong

NEWS RELEASE
CONTACT: WENDY L. WISEMAN
P.R. SECRETARY
NAM TAI ELECTRONICS, INC.
CORPORATE OFFICE:
SUITE 530 - 999 WEST HASTINGS STREET
VANCOUVER, B.C. CANADA V6C 2W2
TEL: (604) 669-7800 FAX: (604) 669-7816
TOLL FREE TEL & FAX: 1-800-661-8831
INTERNET WEBSITE: http://www.namtai.com
E-MAIL: [email protected]

NAM TAI ELECTRONICS, INC. ANNOUNCES

VANCOUVER, CANADA February 20, 1998 -- Nam Tai Electronics, Inc.
("Nam Tai" or the "Company") (NASDAQ/NM Symbol: NTAIF and NTAWF)
today announced its decision to terminate the employment contract of
its Chief Financial Officer, Mr. Allan Parkin, during his
probationary period and within one month.

Mr. M. K. Koo, the Company's Chairman, will resume acting as the CFO
on an interim basis while the Company immediately searches for an
individual with qualifications and experience to serve as a chief
financial officer of a growing multinational public company. Mr. Koo
served in this capacity for most of 1997.

Nam Tai is an independent provider of high quality manufacturing
services to original equipment manufacturers ("OEMs") in the
consumer electronics industry. All of the Company's manufacturing
operations are based in the People's Republic of China ("China").
Nam Tai assists OEMs in the design and development of products and
furnishes full turnkey manufacturing services to its OEM customers
utilizing advanced processes such as chip on board ("COB"), surface
mount technology ("SMT"), tape automated bonding ("TAB") and outer
lead bonding ("OLB") technologies and anistropic conductive film
("ACF") heat seal technology. The Company provides hardware and
software design, plastic molding, component purchasing, assembly
into finished products or electronic subassemblies, post-assembly
testing and shipping. The Company manufactures a broad line of
finished products for its OEM customers, including personal
organizers, linguistic products, calculators, integrated circuit
("IC") or smart card readers (referred to as "IC card readers"). It
also manufactures electronic components and subassemblies for
printed circuit boards ("PCBs"). These products include large scale
integrated circuits ("LSI") bonded on PCBs that are used in the
manufacture of products such as electronic toys, and subassemblies
for liquid crystal display ("LCD") modules that are in turn used in
the manufacture of communications, camera and computer products. In
addition, Nam Tai provides OEMs with silk screening services for
plastic parts, polyvinyl chloride ("PVC") products and metal parts.

-end-

NAM TAI ELECTRONICS, INC. ANNOUNCES
MARCH 16, 1998 RELEASE DATE OF AUDITED 1997 RESULTS

VANCOUVER, CANADA March 12, 1998 -- Nam Tai Electronics, Inc. ("Nam
Tai" or the "Company") (NASDAQ/NM Symbol: NTAIF, and NTAWF) today
announced that it expects to release its unaudited fourth quarter and
audited year end results for the period ended December 31, 1997, on
Monday, March 16 after the market closes.

The Company is pleased that it will announce its audited results
earlier than originally anticipated.

The Company will hold an analysts only conference call following the
announcement of its audited year end results for analysts to discuss
the financial results with management. The conference call has been
arranged for Monday, March 16 at 5:00 p.m. E.S.T. Analysts who wish
to participate in this call are invited to register with Ms. Wendy
Wiseman, P.R. Secretary at 1-800-661-8831 extension 202 before
Monday, March 16 at 3:00 p.m. E.S.T.

Shareholders and Investors are invited to listen to the live
conference call by dialing 1-800-997-6215 just prior to its start
time of 5:00 p.m. E.S.T. on Monday, March 16. Callers will be asked
to register with the conference call operator upon dialing in.

The Company will also be hosting an analysts only trip to Hong Kong
and Shenzhen China from April 20 - 25 to visit Nam Tai's facilities.
Analysts who are interested to join us in Hong Kong and Shenzhen are
invited to contact Ms. Wiseman for further information.

Nam Tai is an independent provider of high quality manufacturing
services to original equipment manufacturers ("OEMs") in the consumer
electronics industry. All of the Company's manufacturing operations
are based in the People's Republic of China ("China"). Nam Tai
assists OEMs in the design and development of products and furnishes
full turnkey manufacturing services to its OEM customers utilizing
advanced processes such as chip on board ("COB"), surface mount
technology ("SMT"), tape automated bonding ("TAB"), outer lead
bonding ("OLB") technologies, and anistropic conductive film ("ACF")
heat seal technology. The Company provides hardware and software
design, plastic molding, component purchasing, assembly into finished
products or electronic subassemblies, post-assembly testing and
shipping. The Company manufactures a broad line of finished products
for its OEM customers, including personal organizers, linguistic
products, calculators, integrated circuit ("IC") or smart card
readers (referred to as "IC card readers"). It also manufactures
electronic components and subassemblies for printed circuit boards ("PCBs").
These products include large scale integrated circuits ("LSI") bonded on
PCBs that are used in the manufacture of products
such as electronic toys, and subassemblies for liquid crystal display
("LCD") modules that are in turn used in the manufacture of
communications, camera and computer products. In addition, Nam Tai
provides OEMs with silk screening services for plastic parts,
polyvinyl chloride ("PVC") products and metal parts.
-end-

NAM TAI ELECTRONICS, INC. ANNOUNCES
Q4 EPS UP 210% TO $0.93 vs. $0.30
AUDITED YEAR END EPS UP 217% TO $3.68 vs. $ 1.16

VANCOUVER, CANADA March 16, 1998 -- Nam Tai Electronics, Inc. ("Nam
Tai" or the "Company") (NASDAQ/NM Symbol: NTAIF and NTAWF) today
announced fourth quarter and audited year end results for the period
ended December 31, 1997. Net sales for the fourth quarter were $30.0
million, virtually the same as 1996 fourth quarter sales of $30.0
million. Operating income increased 44% to $3.5 million compared to 1996
fourth quarter operating income of $2.4 million. Net income
increased 272% to $8.8 million compared to $2.4 million in the fourth
quarter of 1996. Both basic and diluted earnings per share for the
fourth quarter of 1997 were $0.93 compared to $0.30 for the prior
year period.

Net sales for the year ended December 31, 1997 increased 23% to
$132.9 million compared to $108.2 million for 1996. Operating
income increased 123% to $19.0 million compared with $8.5 million for
the year ended December 31, 1996. Net income increased 228% to $30.8
million compared to $9.4 million for the year ended December 31,
1996. Basic earnings per share and diluted earnings per share
increased to $3.70 and $3.68 respectively compared to $1.17 and $1.16
for the prior year period.

The diluted earnings per share calculation for the fourth quarter
ended December 31, 1997 takes into account the significant increase
in the weighted average common shares outstanding from 7,963,808 in
the fourth quarter of 1996 to 9,422,291 for the fourth quarter of
1997. The weighted average common shares outstanding used in the 1997
year end diluted earnings per share calculation increased to
8,391,290 from 8,142,131 for the 1996 year. The change resulted
principally from the issuance of approximately 3,000,000 additional
shares around the end of November in the Company's Rights Offering.

The Company strengthened its financial position, ending the fourth
quarter of 1997 with $9.13 of cash per share and approximately $13.21
of net book value per share, based on the number of shares
outstanding as of December 31, 1997. The Company, as of December 31,
1997, had a cash to current liabilities ratio of 5.2:1, a current
ratio of 6.8:1, a total assets to total liabilities ratio of 8.6:1,
no long term debt, and over $102 million of cash, $95 million of
which is in short term deposits in U.S. currency in North America.
This includes the approximate net proceeds of $47,700,000 raised in
the recently completed Rights Offering.

The Company strengthened its operating performance with higher gross
profit margin (24.5% vs. 19.7%), operating profit margin (11.7% vs.
8.1%), and net profit margin (29.2% vs. 7.9%) in the fourth quarter
of 1997 compared to the same period in 1996. Year end results for
1997 compared to 1996 shows improved gross profit margin (26.1% vs.
20.5%), operating profit margin (14.3% vs. 7.9%), and net profit margin
(23.2% vs. 8.7%).

"After the auditors smoothly finalized the 1997 year end audit Nam
Tai is excited with the successful results which show record sales,
operating income, and earnings per share," commented Mr. Koo. "Given
the worldwide economic turmoil, a certain reduction in existing sales
in 1998 is possible but management is working very hard to match the
sales and operating profit records set in 1997. The current economic
crisis in Southeast Asia creates the perfect timing for the company
to take advantage of its $102 million cash balance to support its
continued growth with strategic acquisitions and investments."

The Company has previously announced its intention to review
acquisition prospects that would complement the Company's existing
products and services, augment its market coverage and sales ability,
or enhance its technological capabilities. The Company is in the
process of evaluating various investments and acquisitions in the
United States, China, Hong Kong and Japan and expects that with time
and patience the process will yield results in a minimum of six
months.

UPDATE OF STOCK REPURCHASE PROGRAM

As of March 13, 1998 the Company has repurchased approximately
250,000 common shares at an average price of $15.75 per share in the Nasdaq
National Market. On January 13, 1998 the Company announced
its intention to repurchase up to 1,000,000 common shares over the
next three months, from time to time, at prevailing market prices in
accordance with Rule 10b. The Company intends to extend the
repurchase program for a further three months to achieve the target
of 1,000,000 common shares.

FIRST QUARTER 1998 FINANCIAL RESULTS

The Company expects to release its first quarter 1998 financial
results on or before May 11, 1998.

DATE SET FOR ANNUAL GENERAL MEETING

Nam Tai's Annual Meeting of Shareholders will be held at 11:30 a.m.
on June 8, 1998 at the Four Seasons Hotel, 57 East 57th Street, New
York. The record date for the Annual Meeting has been set at April
24, 1998.

ANALYST TRIP TO HONG KONG AND SHENZHEN CHINA

The Company will be hosting an analysts only trip to Hong Kong and Shenzhen
China on April 20, 1998 for an open house tour of Nam Tai's
facilities and a meeting with management. The Company will arrange
ferry transport from Hong Kong to Shenzhen departing at 7:30 a.m. and
returning to Hong Kong by 5:00 p.m. the same day. Analysts who are
interested in joining are invited to contact Ms. Wiseman at 1-800- 661-8831
for further information.

Except for the historical information contained herein, matters
discussed in this press release are forward-looking statements that
involve risks and uncertainties that could cause actual results to
differ materially from those anticipated in the forward-looking
statements. The factors that might cause such a difference include,
but are not necessarily limited to, those discussed in the Company's
reports filed with the Securities and Exchange Commission from time
to time, such as the factors set forth in Item 1. "Description of
Business - Risk Factors" in the Company's Annual Report on Form 20-F
for the year ended December 31, 1996.

Nam Tai is an independent provider of high quality manufacturing
services to original equipment manufacturers ("OEMs") in the consumer
electronics industry. All of the Company's manufacturing operations
are based in the People's Republic of China ("China"). Nam Tai
assists OEMs in the design and development of products and furnishes
full turnkey manufacturing services to its OEM customers utilizing
advanced processes such as chip on board ("COB"), surface mount
technology ("SMT"), tape automated bonding ("TAB"), outer lead
bonding ("OLB") technologies, and anistropic conductive film ("ACF")
heat seal technology. The Company provides hardware and software
design, plastic molding, component purchasing, assembly into finished
products or electronic subassemblies, post-assembly testing and
shipping. The Company manufactures a broad line of finished products
for its OEM customers, including personal organizers, linguistic
products, calculators, integrated circuit ("IC") or smart card
readers (referred to as "IC card readers"). It also manufactures
electronic components and subassemblies for printed circuit boards ("PCBs").
These products include large scale integrated circuits ("LSI") bonded on
PCBs that are used in the manufacture of products
such as electronic toys, and subassemblies for liquid crystal display
("LCD") modules that are in turn used in the manufacture of
communications, camera and computer products. In addition, Nam Tai
provides OEMs with silk screening services for plastic parts,
polyvinyl chloride ("PVC") products and metal parts.

-more-

Page 4 of 5
NAM TAI ELECTRONICS, INC.
CONSOLIDATED STATEMENTS OF INCOME
FOR THE PERIODS ENDED DECEMBER 31, 1997 and 1996
(In Thousands of U.S. Dollars except per share data)
<TABLE>
<CAPTION>
Audited
Three months endedTwelve months ended
December 31 December 31
1997 1996 1997 1996
<S> <C> <C> <C> <C>
Net sales $ 30,013 $ 29,987 $132,854 $108,234
Cost of sales 22,665 24,089 98,130 86,049

Gross profit 7,348 5,898 34,724 22,185
-------- -------- -------- --------
Costs and expenses
Selling, general and
administrative expenses 3,010 3,175 13,799 12,702
Research and development expenses 835 291 1,909 950
3,845 3,466 15,708 13,652
-------- -------- -------- --------
Income from operations 3,503 2,432 19,016 8,533

Net gain/(loss) on disposal of property,
plant and equipment 2,686 (122) 4,350 (123)
Other income - net 2,526 137 7,791 1,253
Interest expense (1) (55) (39) (89)

Income from consolidated companies
before income taxes 8,714 2,392 31,118 9,574
Income tax (expense)benefit 41 (36) (279) (158)

Net income $ 8,755 $ 2,356 $30,839 $ 9,416

Basic earnings per share $ 0.93 $ 0.30 $ 3.70 $ 1.17
Diluted earnings per share $ 0.93 $ 0.30 $ 3.68 $ 1.16
</TABLE>

Page 5 of 5

NAM TAI ELECTRONICS, INC.
CONSOLIDATED BALANCE SHEETS
AS AT DECEMBER 31, 1997 and 1996
(In Thousands of U.S. Dollars)
<TABLE>
<CAPTION> Audited Audited
December 31 December 31
1997 1996
ASSETS
<S> <C> <C>
Current assets:
Cash and cash equivalents $102,411 $ 17,741
Accounts receivable, net 16,985 16,589
Inventories 9,838 10,511
Prepaid expenses and deposits 3,788 1,768

Total current assets 133,022 46,609
-------- --------
Long term investments 833 4,050
-------- --------
Property, plant and equipment, at cost 44,295 46,751
Less: accumulated depreciation and amortization (11,853) (10,264)
32,442 36,487
-------- --------
Other assets 1,491 1,245

Total assets $167,788 $88,391

LIABILITIES AND SHAREHOLDERS' EQUITY

Current liabilities:
Notes payable $1,814 $5,186
Accounts payable and accrued expenses 17,551 16,184
Income tax payable 187 31

Total current liabilities 19,552 21,401
-------- --------
Shareholders' equity:
Common shares 112 78
Additional paid-in capital 80,044 28,572
Stock option grants 0 305
Retained earnings 68,050 38,007
Foreign currency translation adjustment 30 28

Total shareholders' equity 148,236 66,990

Total liabilities and shareholders' equity $ 167,788 $ 88,391
</TABLE>

NAM TAI ELECTRONICS, INC. RAISES ANNUAL DIVIDEND to $0.28 from $0.10
-- DIVIDENDS OF $0.07 TO BE PAID QUARTERLY --

VANCOUVER, CANADA March 23, 1998 -- Nam Tai Electronics, Inc. ("Nam
Tai" or the "Company") (NASDAQ/NM: NTAIF and NTAWF) today announced it
has increased its annual dividend to $0.28 per share for 1998 compared
to $0.10 per share for 1997. The Company also announced it will begin
paying dividends on a quarterly basis, commencing with the first
quarter 1998 dividend of $0.07 per share to be paid on or before April
28, 1998 to all shareholders of record at the close of business on
April 6, 1998.

This is the first time the Company has announced dividends on a
quarterly basis. Previously, the Company paid annual dividends of
$0.01, $0.015, $0.03 and $0.10 per share in 1994, 1995, 1996 and 1997,
respectively.

Mr. M. K. Koo, Chairman, announced, "The Company is pleased with our
strong sales and profit growth, large cash position of $102 million,
and $3.68 diluted earnings per share for the year ended December 31,
1997 from net income of $30.8 million. The $3.68 total includes $2.27
of operating income per share, representing a total of $19 million, and
$1.41 of non-operating income per share after tax. The non-operating
income of $12 million includes a net gain of $4,350,000 arising from
the sale of property in Hong Kong and Canada and the write-off of
equipment, a $5,488,000 gain from the sale of investments, $1,808,000
of net interest income, and approximately $456,000 of other income.
Accordingly, we are happy to reward our shareholders by increasing the
dividend and increasing the frequency of dividend payments. Before the
end of each remaining quarter in 1998 we plan to announce a similar
quarterly dividend of $0.07. Record and payment dates will be announced
at the same time."

It is the current policy of Nam Tai to determine the actual amount of
future dividends based upon the Company's growth during the preceding
year.

Nam Tai is an independent provider of high quality manufacturing
services to original equipment manufacturers ("OEMs") in the consumer
electronics industry. All of the Company's manufacturing operations
are based in the People's Republic of China ("China"). Nam Tai assists
OEMs in the design and development of products and furnishes full
turnkey manufacturing services to its OEM customers utilizing advanced
processes such as chip on board ("COB"), surface mount technology ("SMT"),
tape automated bonding ("TAB") and outer lead bonding ("OLB")
technologies. The Company provides hardware and software design,
plastic molding, component purchasing, assembly into finished products
or electronic subassemblies, post-assembly testing and shipping. The
Company manufactures a broad line of finished products for its OEM
customers, including personal organizers, linguistic products,
calculators, integrated circuit ("IC") or smart card readers (referred
to as "IC card readers"). It also manufactures electronic components
and subassemblies for printed circuit boards ("PCBs"). These products
include large scale integrated circuits ("LSI") bonded on PCBs that are
used in the manufacture of products such as electronic toys, and
subassemblies for liquid crystal display ("LCD") modules that are in
turn used in the manufacture of communications, camera and computer
products. In addition, Nam Tai provides OEMs with silk screening
services for plastic parts, polyvinyl chloride ("PVC") products and
metal parts.

Except for the historical information contained herein, matters
discussed in this press release are forward-looking statements that
involve risks and uncertainties that could cause actual results to
differ materially from those anticipated in the forward-looking
statements. The factors that might cause such a difference include,
but are not necessarily limited to, those discussed in the Company's
reports filed with the Securities and Exchange Commission from time to
time, such as the factors set forth in Item 1. "Description of
Business - Risk Factors" in the Company's Annual Report on Form 20-F
for the year ended December 31, 1996.

NAM TAI ELECTRONICS, INC. AWARDED
TEXAS INSTRUMENTS 1997 SUPPLIER EXCELLENCE AWARD

VANCOUVER, CANADA March 25, 1998 -- Nam Tai Electronics, Inc. ("Nam
Tai" or the "Company") (NASDAQ/NM Symbol: NTAIF and NTAWF,) today
announced the Company has been awarded the Texas Instruments 1997
Supplier Excellence Award. This is the third year in a row for Nam Tai
to receive this prestigious award. The award recognizes suppliers who
have achieved world-class performance in the following categories:
product quality, quality management, continuous on-time delivery of
products to support customer needs, cycle times, leadership product
pricing and value, customer service, technology, and environmental
leadership. To qualify for the award the first time requires very high
scores in each of the categories. To receive the award in subsequent
years requires continuous improvement over the high scores required for
the first year.

"The Company is committed to the principle of providing total quality
and will strive to meet the requirements to receive this award for a
fourth year. We also extend the same commitment of total quality to
all our OEM customers," commented Mr. Koo. "We hope to continue
growing the business by co-ordinating with our OEM customers to bring
high quality, reasonably priced products to the end user."

Nam Tai is an independent provider of high quality manufacturing
services to original equipment manufacturers ("OEMs") in the consumer
electronics industry. All of the Company's manufacturing operations
are based in the People's Republic of China ("China"). Nam Tai assists
OEMs in the design and development of products and furnishes full
turnkey manufacturing services to its OEM customers utilizing advanced
processes such as chip on board ("COB"), surface mount technology ("SMT"),
tape automated bonding ("TAB"), outer lead bonding ("OLB")
technologies, and anistropic conductive film ("ACF") heat seal
technology. The Company provides hardware and software design, plastic
molding, component purchasing, assembly into finished products or
electronic subassemblies, post-assembly testing and shipping. The
Company manufactures a broad line of finished products for its OEM
customers, including personal organizers, linguistic products,
calculators, integrated circuit ("IC") or smart card readers (referred
to as "IC card readers"). It also manufactures electronic components
and subassemblies for printed circuit boards ("PCBs"). These products
include large scale integrated circuits ("LSI") bonded on PCBs that are
used in the manufacture of products such as electronic toys, and
subassemblies for liquid crystal display ("LCD") modules that are in
turn used in the manufacture of communications, camera and computer
products. In addition, Nam Tai provides OEMs with silk screening
services for plastic parts, polyvinyl chloride ("PVC") products and
metal parts.

-end-

The Registrant hereby incorporates this Report on Form 6-K into its
Registration Statement on Form F-3 (Registration No. 333-36135).

Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf
by the undersigned thereunto duly authorized.

For and on behalf of
Nam Tai Electronics, Inc.

by
(S.d.) M.K. KOO
____________________
M.K. Koo, Chairman

Date: March 26, 1998