SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
Report of Foreign Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the month of April and May, 2000
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Bonso Electronics International Inc.
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(Translation of Registrant's name into English)
Flat A-D, 8th Floor, Universal Industrial Centre, 23-25 Shan Mei Street,
Fo Tan, Shatin, N.T., Hong Kong
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(Address of principal executive offices)
[Indicate by check mark whether the Registrant files or will file annual reports
under cover of Form 20-F or Form 40-F.]
Form 20-F X Form 40-F
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[Indicate by check mark whether the Registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.]
Yes No X
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BONSO ELECTRONICS INTERNATIONAL INC. NEWS RELEASE
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Flat A-D, 8/Floor, Universal IndustrialCentre North America Company Contact:
23-25 Shan Mei Street George O'Leary
Fo Tan, Shatin, N.T. 1919 Yacht Colinia
Hong Kong Newport Beaeh, CA 92660 USA
Tel: (949) 760-9611
Fax: (949) 760-9607
BONSO ELECTRONICS INTERNATIONAL INC.
REPORTS THIRD QUARTER FINANCIAL RESULTS
HONG KONG (BUSINESS WIRE)..April 17, 2000. Bonso Electronics International Inc.
(Nasdaq/NMS: BNSO) reported results for the third quarter, ended December 31,
1999.
Bonso's net sales for the nine month period ended Dec. 31, 1999, were $11.4
million, an increase of 17%, compared to sales of $9.7 million for the nine
month period ended Dec. 31, 1998. Operating income was $843,000 for the nine
months ended Dec. 31, 1999, an increase of 126% compared to $373,000 for the
corresponding period last year. Net income for the current nine months reporting
period was $803,000, or $0.2633 basic earnings per share, an increase of 617%
from $112,000 or $0.0369 basic earnings per share, reported for the nine months
ended Dec. 31, 1999.
For the three month period ended Dec. 31, 1999, net sales were $3.5 million, an
increase 28% compared to sales of $2.8 million for the three month period ended
Dec. 31, 1998. Operating income for the current reporting quarter was $113,000
an increase of 2%, compared to $111,000 in operating income reported for the
comparable quarter in 1998. For the three month period ended Dec. 31, 1999, net
income was $181,000, or $0.059 basic earning share, an increase of 9850%
compared to a net income of $2,000, or $0.0007 basic earning per share, for the
three months ended Dec. 31, 1998.
Mr. Anthony So, Chairman and Chief' Executive Officer of the Company, stated: "I
am pleased to report that the third quarter results have remained on track. I am
very optimistic that the Company's sales will continue to increase in
conjunction with our efforts to diversify our product offerings especially in
the new communication products."
Mr. So further stated, "Since we last reported, Bonso has grown substantially.
Our factory is operating at a high level of capacity. We are making every effort
to comply with our existing and new customers' requirements for product
shipments. These efforts include expansion of a number of manufacturing lines,
going to multiple shifts in some production areas and leasing additional factory
space nearby. Based on the overwhelming demand for our current products and
manufacturing services we continue to be cautiously optimistic about the
future."
Bonso Electronics designs, develops, manufactures, assembles and markets a
comprehensive line of electronic scales and weighing instruments and electronic
consumer and health care products. The Company manufactures all of its products
in the People's Republic of China. The Company's electronic scales include
bathroom, kitchen, office, jewelry, laboratory, pocket, postal, industrial and
parcel scales that are used in consumer, commercial and industrial applications.
The Company's electronic consumer and healthcare products include electronic
thermometers and blood pressure meters. The Company's telecommunications
products include cordless telephones, two-way radios and internet audio (MP3)
products. Headquartered in Hong Kong, Bonso Electronics markets its products to
customers primarily in North America and Europe.
Sale Harbor Statement under the Private Securities Litigation Reform Act of
1995: The statements which are not historical facts contained in this press
release are forward-looking statements that involve certain risks and
uncertainties including, but not limited to, risks associated with the
uncertainty of future financial results, additional financing requirements,
development of new products, government approval processes, the impact of
competitive products or pricing, technological changes, the effect of economic
conditions and other uncertainties detailed in the Company's filings with the
Securities and Exchange Commission.
FINANCIAL HIGHLIGHTS--TO FOLLOW###
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BONSO ELECTRONICS INTERNATIONAL INC.
CONSOLIDATED BALANCE SHEET
(In U S Dollars)
December 31, March 31,
1999 1999
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(unaudited) (audited)
<S> <C> <C>
ASSETS
Current Assets
Cash and cash equivalents $ 477,535 $ 271,447
Restricted cash deposits 1,046,879 1,011,688
Trade receivables, net 660,808 362,236
Inventories, net 3,932,022 4,637,328
Notes receivable 153,738 630,443
Deferred income tax assets - current 31,251 31,251
Other receivables, deposits and
Prepayments 607,803 243,231
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Total current assets $ 6,916,036 $ 7,308,230
Deferred income tax assets - non current 81,223 81,223
Net property, plant and equipment 14,113,056 11,270,831
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Total assets $ 21,110,315 $ 18,660,284
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LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities
Bank liabilities: $ 216,836 $ 643,278
Notes payables 1,064,861 581,349
Account payable 2,279,627 1,135,910
Accrued charges and deposits 686,224 516,458
Income taxes payable 23,462 11,667
Short-term loans -- 720,123
Current portion of long-term debt &
capital lease obligations 494,526 383,409
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Total Current Liabilities $ 4,765,536 $ 3,332,200
Long term debt and capital lease
Obligations, net of current maturities 845,955 42,397
Shareholders' equity
Common stock par value $0.003 per
share authorized 23,333,334 shares
issued and outstanding 2,923,992 shares 9,498 9,353
Additional paid in capital 8,907,124 10,285,105
Promissory note receivable from Shareholder -- (1,430,000)
Retained earnings 6,328,919 5,525,958
Accumulated other comprehensive income 253,283 235,271
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$ 15,498,824 $ 14,625,687
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Total Liabilities & Shareholders' equity $ 21,110,315 $ 18,660,284
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BONSO ELECTRONICS INTERNATIONAL INC.
CONSOLIDATED STATEMENTS OF INCOME
(In Thousand of U.S. Dollars)
(unaudited)
Three months ended Nine months
December 31 December
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1998 1999 1998 1999
---- ---- ---- ----
Sales 3,542 2,777 11,397 9,723
Cost of Sales (2,280) (1,837) (7,554) (6,904)
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Gross Profits 1,262 940 3,843 2,819
Operating Expenses
Selling Expense 61 59 151 143
Salary & related cost 572 514 1,447 1,330
Research & development
Expenses 50 8 148 20
General & admin expense 466 248 1,254 953
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Income from operations 113 111 843 373
Other income 77 22 187 82
Foreign exchange Gain/(Loss) (13) (14) (19) 23
Interest Expenses (83) (117) (208) (366)
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Income before income tax 94 2 803 112
Income tax (credit)/charge (87) -- -- --
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Net income 181 2 803 112
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Per share amounts (in dollars)
earnings per share:
Basic 0.059 0.0007 0.2633 0.0369
Diluted 0.052 0.0006 0.2295 0.032
Weighted average shares Outstanding 3,050,068 3,034,439 3,050,068 3,034,439
Incremental shares from
Assumed exercise of
Warrants and stock options 448,032 461,730 448,032 461,730
Adjusted weighted average Share 3,498,100 3,496,169 3,498,100 3,496,169
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BONSO ELECTRONICS INTERNATIONAL INC. NEWS RELEASE
--------------------------------------------------------------------------------
Flat A-D, 8/Floor, Universal Industrial Centre North America Company Contact:
23-25 Shan Mei Street George O'Leary
Fo Tan, Shatin, N.T. 1919 Yacht Colinia
Hong Kong Newport Beach, CA 92660 USA
Tel: (949) 760-9611
Fax: (949) 760-9607
BONSO ELECTRONICS
ANNOUNCES NEW TELECOMMUNICATION BUSINESS
HONG KONG - (BUSINESS WIRE) -April 20, 2000 - Bonso Electronics International,
Inc. (NASDAQ/NMS: BNSO) announced new orders for its principal telecommunication
product--the Family Radio System ("FRS"). Anthony So, Chairman and Chief
Executive Officer of Bonso stated, "the Company has received an order from a
Korean company, for average monthly shipments of 300,000 FRS units to be sold
under a world wide brand name into the North American market. The current order
is for an aggregate of 2,400,000 units to be produced between April 2000 and
November 2000. This order represents a monthly increase of approximately 200,000
units from shipments in March 2000 of approximately 100,000 units."
Mr. So stated that, "as a result of this new order we anticipate a tremendous
increase in our annual sales during the fiscal year ending March 31, 2001." He
also stated that "the Company expects the worldwide telecommunication's business
to continue to grow, and that Bonso will be able to participate in that growth
with the development and manufacture of various new telecommunications
products."
Bonso Electronics designs, develops, manufactures, assembles and markets a
comprehensive line of electronic scales and weighing instruments and electronic
consumer and health care products, as well as, their new line of
telecommunications products. The Company manufactures all of its products in the
People's Republic of China. The Company's scales include bathroom, kitchen,
office, jewelry, laboratory, pocket, postal, industrial, parcel and mechanical
scales that are used in consumer, commercial and industrial applications. The
Company's electronic consumer and health care products include thermometers and
blood pressure monitors. The company's telecommunications products include
two-way radios and cordless telephones. Headquartered in Hong Kong, Bonso
electronics markets its products to customers primarily in North America and
Europe.
Safe Harbor Statement under the Private Securities Litigation Reform Act of
1995: The statements which are not historical facts contained in this press
release are forward-looking statements that involve certain risks and
uncertainties including, but not limited to, risks associated with the market
for telecommunications products, uncertainty of future financial results,
additional financing requirements, development of new products, government
approval processes, the impact of competitive products or pricing, technological
changes, the effect of economic conditions and other uncertainties detailed in
the Company's filings with the Securities and Exchange Commission.
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BONSO ELECTRONICS INTERNATIONAL INC. NEWS RELEASE
--------------------------------------------------------------------------------
Flat A-D, 8/Floor, Universal Industrial Centre North America Company Contact:
23-25, Shan Mei Street George O'Leary
Fo Tan, Shatin, N.T. 1919 Yacht Colinia
Hong Kong Newport Beach, CA 92660 USA
Email address : [email protected] Telephone: (949) 760-9611
Facsimile: (949) 760-9607
BONSO ELECTRONICS INTERNATIONAL INC.
EXPANDS PRODUCTION FLOORS AND FACILITIES
FOR INCREASING ORDERS
HONG KONG .... May 1, 2000. Bonso Electronics International Inc. (NASDAQ Symbol:
BNSO) today announced that, as a result of a strong market and increasing
customer orders, the Company has leased a new 52,000 square feet factory
building and a new 32,000 square feet dormitory building, which are located
adjacent to Bonso's existing 400,000 square feet production plant. Renovation of
the new factory building is taking place and management expects to begin using
the new building in early May, 2000.
Mr. Anthony So, CEO of Bonso, said "We expect to invest US$5 million in the near
future for renovation, testing equipment and machines. I am very excited and
believe that Bonso's competitive position will be significantly enhanced by this
expansion."
Bonso Electronics designs, develops, manufactures and sells a comprehensive line
of electronic scales and weighing instruments and electronic consumer and health
care products. The Company manufactures all of its products in the People's
Republic of China. The Company's electronic scales include bathroom, kitchen,
office, jewelry, laboratory, pocket, postal, industrial and parcel scales that
are used in consumer, commercial and industrial applications. The Company's
electronic consumer and health care products include electronic thermometers and
blood pressure meters. The Company's telecommunications products include
cordless telephones and two-way radios products. Headquartered in Hong Kong,
Bonso Electronics markets its products to customers primarily in North America
and Europe.
Safe Harbor Statement under the Private Securities Litigation Reform Act of
1995: The statements which are not historical facts contained in this press
release are forward-looking statements that involve certain risks and
uncertainties including, but not limited to, risks associated with the
uncertainty of future financial results, additional financing requirements,
development of new products, government approval processes, the impact of
competitive products or pricing, technological changes, the effect of economic
conditions and other uncertainties detailed in the Company's filings with the
Securities and Exchange Commission.
<PAGE>
BONSO ELECTRONICS INTERNATIONAL INC. NEWS RELEASE
--------------------------------------------------------------------------------
Flat A-D, 8/Floor, Universal Industrial Centre North America Company Contact:
23-25, Shan Mei Street George O'Leary
Fo Tan, Shatin, N.T. 1919 Yacht Colinia
Hong Kong Newport Beach, CA 92660 USA
Email address : [email protected] Telephone: (949) 760-9611
Facsimile: (949) 760-9607
BONSO ELECTRONICS INTERNATIONAL INC.
EXPANDS PRODUCTION CAPACITY AND FACILITIES
FOR INCREASING ORDERS
HONG KONG .... May 8, 2000. Bonso Electronics International Inc (NASDAQ Symbol:
BNSO) today announced that the Company has increased its molding capacity by
adding 37 sets of new injection molding machines, so that the number of
injection molding machines increased from 25 sets in December, 1999, to 62 sets
at this time. Bonso's plastic molding capacity has increased by more than 200%
in the last five months. Furthermore, a total of 30 sets of automatic new SMT
(surface mount technology) machines have also been installed since December
1999. The total investment in these new machines was over US$7 million.
Mr. Anthony So, CEO of Bonso, said "We also expect to invest a further US$1
million in the near future for testing equipment. With the addition of these
machines, we have expanded our current facility to meet the increased demand for
our products and to further enhance our competitive position."
Bonso Electronics is a leading contract manufacturer of electronics products,
and designs, develops, manufactures and sells a comprehensive line of electronic
scales and weighing instruments and electronic consumer and health care
products. The Company manufactures all of its products in the People's Republic
of China. The Company's electronic scales include bathroom, kitchen, office,
jewelry, laboratory, pocket, postal, industrial and parcel scales that are used
in consumer, commercial and industrial applications. The Company's electronic
consumer and health care products include electronic thermometers and blood
pressure meters. The Company's telecommunications products include cordless
telephones and two-way radios products. Headquartered in Hong Kong, Bonso
Electronics markets its products to customers primarily in North America and
Europe.
Safe Harbor Statement under the Private Securities Litigation Reform Act of
1995: The statements which are not historical facts contained in this press
release are forward-looking statements that involve certain risks and
uncertainties including, but not limited to, risks associated with the
uncertainty of future financial results, additional financing requirements,
development of new products, government approval processes, the impact of
competitive products or pricing, technological changes, the effect of economic
conditions and other uncertainties detailed in the Company's filings with the
Securities and Exchange Commission.
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SIGNATURES
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.
BONSO ELECTRONICS INTERNATIONAL INC.
(Registrant)
Date: June 5, 2000 By: /s/ Henry F. Schlueter
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Henry F. Schlueter, Assistant Secretary
