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 June 27, 2003
BONSO ELECTRONICS INTERNATIONAL INC.
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(Translation of Registrant's name into English)
Unit 1106-1110, 11/F., Star House 3 Salisbury Road,
Tsimshatsui Kowloon, 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 [ ]
[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]
BONSO ELECTRONICS POSTS RESULTS
FOR THE FISCAL YEAR ENDED MARCH 31, 2003
HONG KONG, June 27/PRNewswire-FirstCall/ -- Bonso Electronics
International, Inc. (Nasdaq: BNSO) / - Bonso Electronics International Inc
posted a loss for the fourth quarter and fiscal year ended March 31, 2003. Net
sales for the year were $46.3 million, a 13% decline over the $53.3 million
posted in fiscal 2002. The net loss for the year was $1.6 million ($0.29 per
share) a 189 % decrease over the $1.8 million profit ($0.32 per share) posted in
the prior year.
Anthony So, Chairman and CEO stated "We are disappointed with our 2003
financial results, and we have taken steps to restore the company to acceptable
financial performance in the very near future. These steps include the
implementation of cost control measures, and targeted marketing efforts to new
and existing manufacturing customers." Mr. So further stated that the primary
reasons for the loss was the poor financial performance of our German subsidiary
Korona GmbH as a result of the poor economy in Europe and reduced sales.
Mr. So further said that we are already seeing signs of recovery in our
businesses as a results of our improved manufacturing efficiencies and overall
business processes. We have confidence to achieve an improved result for the
coming fiscal year so as to provide our loyal shareholders with recognition for
their support.
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. For further
information, visit the company's web site at www.bonso.com.
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
United States Securities and Exchange Commission.
USA Contact:
George O'Leary
Tel: 949-760-9611
Fax: 949-760-9607
Hong Kong Contact:
Cathy Pang
Tel: 852-2605-5822
Fax: 852-2691-1724
FINANCIAL SUMMARY
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Unaudited Audited
Year ended Year ended
March 31, 2003 March 31, 2002
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Revenues($M) 46.330 53.303
Gross Profit($M) 10.802 13.111
(Loss)/Income from Operation($M) (0.778) 2.714
Net (Loss)/Income($M) (1.644) 1.806
Earnings per Share($) (0.29) 0.32
Weighted Average
Shares Outstanding(M) 5.599 5.587
SIGNATURE
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 27, 2003 By: /s/ Henry F. Schlueter
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Henry F. Schlueter, Assistant Secretary