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 November, 2000
--------------
Bonso Electronics International Inc.
--------------------------------------------
(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
-------------------------------------------------------------------------------
(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
----- -----
[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
----- -----
<PAGE>
BONSO ELECTRONICS INTERNATIONAL INC. NEWS RELEASE
--------------------------------------------------------------------------------
Unit 1106-1110, 11/F Star House North America Company Contact :
3 Salisbury Road George O'Leary
Tsim Sha Tsui, Kowloon 1919 Yacht Colinia
Hong Kong Newport Beach CA 92660 USA
Tel: (949) 760-9611
Fax: (949) 760-9607
BONSO ELECTRONICS INTERNATIONAL INC.
REPORTS IMPROVED SECOND QUARTER FINANCIAL RESULTS
HONG KONG (BUSINESS WIRE) November 8, 2000..Bonso Electronics International Inc.
(Common Stock--Nasdaq/NMS: BNSO; Warrants--Nasdaq/SmallCap: BNSOZ) reported net
income of $2,011,000 on revenues of $15,602,000 for the six months ended
September 30, 2000, an increase of 223 and 99 percent, respectively, over
earnings of $622,000 and revenues of $7,855,000 posted in the comparable 1999
period.
Diluted earnings per share of $0.36 in the six months ended September 30,
2000, which compares to $0.17 in the same 1999 period, reflect a 53.1 percent
increase in adjusted weighted average shares outstanding due to conversion of
warrants in January 2000, which added 2,412,000 additional shares outstanding
over the prior year.
Net income in the three months ended September 30, 2000 rose to $825,000
equal to $0.15 per share, over earnings of $236,000, or $0.065 per share, in the
1999 quarter. Revenues increased to $6,421,000, over $3,515,000 last year.
"I am pleased to report that the second quarter result is running well
ahead of last year. The small drop of turnover and revenues in this quarter
compared to the first quarter is basically due to a temporary suspension of
shipments of a telecommunications product in August and September while
contractual issues were being resolved," said Anthony So, Bonso chairman and
Chief Executive Officer. "However, all contractual issues have been resolved,
and in October we resumed shipping "two way radio" products monthly close to the
first quarter rate. We continue to look forward to a substantial annual
performance improvement for this year."
About Bonso Electronics
Headquartered in Hong Kong, Bonso Electronics designs, develops,
manufactures, assembles and markets a comprehensive line of telecommunications
products, electronic scales and weighing instruments and health care products.
Bonso products are manufactured in the People's Republic of China on behalf of
customers primarily located in North America and Europe. Company services
include product design and prototyping, production tooling, procurement of
components, total quality management, and just-in-time delivery. Bonso also
independently designs and develops electronic products for private label
markets. For further information, visit the company's web site at www.bonso.com.
<PAGE>
The statements contained in the press release which are not historical facts 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###
2
<PAGE>
<TABLE>
<CAPTION>
BONSO ELECTRONICS INTERNATIONAL INC.
CONSOLIDATED BALANCE SHEET
(In U.S. Dollars)
ASSETS September 30, 2000 March 31, 2000
(Unaudited) (Audited)
<S> <C> <C>
Current Assets:
Cash and cash equivalents $ 4,866,699 $ 7,959,404
Restricted cash deposits 2,164,426 2,071,952
Trade receivables, net 2,613,232 1,661,050
Inventories, net 5,747,046 6,192,611
Notes receivable 152,275 525,175
Income taxes recoverable -- 112
Deferred income tax assets - current -- 24,802
Other receivables, deposits and
Prepayments 442,110 235,851
------------ ------------
Total current assets $ 15,985,788 $ 18,670,957
Deposits -- 398,147
Deferred income tax assets - non current 45,638 101,570
Net property, plant and equipment 17,541,546 14,622,042
------------ ------------
Total assets $ 33,572,972 $ 33,792,716
============ ============
Current liabilities :
Notes payable 973,830 819,099
Account payable 2,076,671 3,028,023
Accrued charges and deposits 376,682 882,839
Short-term loans -- 622,229
Current portion of long-term debt &
capital lease obligations 456,815 553,467
Income tax payable 170,000 --
------------ ------------
Total Current Liabilities $ 4,053,998 $ 5,905,657
Long term debt and capital lease
Obligations, net of current maturities 685,223 864,798
Shareholders` equity :
Common stock par value $0.003 per
share
authorized 23,333,334 shares issued and
outstanding shares 5,515,966 16,478 17,133
Additional paid in capital 20,696,156 22,325,500
Promissory note receivable from
Shareholder -- (1,430,000)
Retained earnings 7,885,145 5,873,656
Accumulated other comprehensive
Income 235,972 235,972
------------ ------------
$ 28,833,751 $ 27,022,261
------------ ------------
Total Liabilities & Shareholders` equity $ 33,572,972 $ 33,792,716
============ ============
3
<PAGE>
BONSO ELECTRONICS INTERNATIONAL INC.
CONSOLIDATED STATEMENTS OF INCOME
(In Thousand of U.S. Dollars)
(Unaudited)
Three months ended Six months ended
September 30 September 30
----------------------------------------------------------------------
2000 1999 2000 1999
---- ---- ---- ----
Sales 6,421 3,515 15,602 7,855
Cost of Sales (4,243) (2,280) (10,966) (5,274)
---------- ---------- ---------- ----------
Gross Profits 2,178 1,235 4,636 2,581
Operating Expenses
Selling Expense 79 38 213 90
Salary & related cost 580 380 1,170 875
Research & development
expenses 49 91 78 98
General & admin
expense 545 424 1,113 788
---------- ---------- ---------- ----------
Income from operations 925 302 2,062 730
Other income 191 80 304 110
Foreign exchange Gain/
(Loss) (25) 1 14 (6)
Interest Expenses (119) (60) (222) (125)
---------- ---------- ---------- ----------
Income before income tax 972 323 2,158 709
Income tax (charge ) (147) (87) (147) (87)
---------- ---------- ---------- ----------
Net income 825 236 2,011 622
========== ========== ========== ==========
Per share amounts (in dollars) :
earnings per share
Basic 0.15 0.076 0.36 0.20
Diluted 0.15 0.065 0.36 0.17
Weighted average shares
Outstanding 5,527,623 3,115,880 5,527,623 3,115,880
Incremental shares from
Assumed exercise of
Warrants and stock
options 68,228 539,950 68,228 539,950
Adjusted weighted average
Shares outstanding 5,595,821 3,655,830 5,595,821 3,655,830
4
</TABLE>
<PAGE>
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: November 8, 2000 By: /s/ Henry F. Schlueter
---------------- ----------------------------------------
Henry F. Schlueter, Assistant Secretary
