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 August 18, 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 Q1 F2004
BONSO ELECTRONICS REPORTS RECORD SALES AND IMPROVED EARNINGS FOR FIRST QUARTER
HONG KONG, August 15, 2003 - Bonso Electronics International Inc.
(NASDAQ:BNSO) today reported financial results for the first fiscal quarter,
ended 30 June 2003.
Quarterly revenues jumped 98% to $20,045,000 over last year's $10,118,000. Net
income increased 36% to $708,000 or $0.12 per share compared to $522,000 and
$0.09 per share for the same period last year.
"I am pleased to report our improved sales, which shows increases in almost all
aspects of our business" said Mr. Anthony So, Bonso Chairman, CEO and President.
The increase in sales is also attributable to Gram Precision's contribution to
revenue, which because of the August 2002 acquisition date, did not contribute
to Bonso's fiscal first quarter of 2003. Greater than 90% of the sales increase
was from internal growth with the remainder from past acquisition activities.
Mr. So stated "Although our record sales show that the demand for our products
and services remain strong with existing and new customers, we must continue to
work on improving our gross profit margins which are not keeping up with the
rate of sales growth."
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 http://www.bonso.com .
FINANCIAL SUMMARY
(US $ ,000)
For the Three Months Ended June 30
2003 2002
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(unaudited) (unaudited)
Revenues 20,045 10,118
Gross Profit 3,816 2,869
Income from Operations 767 650
Income from Operations & Minority 650 522
Interest
Income Tax Credit (exp) 81 0
Net Income before Minority Interest 731 522
Minority Interest (23) 0
Net Income 708 522
Earning per share ($) 0.12 0.09
Adjusted Weighted Average Shares 5,689,159 5,591,891
US contact: George OLeary 949 760 9611; 949 760 9607 (FAX)
Hong Kong Contact: Cathy Pang (852) 2605 5822; (852) 2691 1724 (FAX)
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.
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: August 18, 2003 By: /s/ Henry F. Schlueter
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Henry F. Schlueter, Assistant Secretary