Bonso Electronics International (NASDAQ:BNSO)

HONG KONG, March 23, 2018 (GLOBE NEWSWIRE) -- Bonso Electronics International, Inc. (BNSO) today announced its unaudited results for the six-month period ended September 30, 2017.

Bonso reported net income for the six-month period ended September 30, 2017 of $0.69 million, or $0.14 basic earnings per share, as compared to net income of $1.10 million, or $0.21 basic earnings per share, posted during the six-month period ended September 30, 2016.  Net sales for the six-month period ended September 30, 2017 decreased 38.8% to $6.2 million from $10.2 million for the six-month period ended September 30, 2016. The decreased net income resulted from the decline in revenue and the corresponding decline in income from the operations for the six-month period ended September 30, 2017.

Mr. Anthony So, Chairman and CEO stated: “Although our revenue decreased as compared with the same period in the previous year, we are pleased that our operations remained profitable.”

Mr. So said further: "To cope with the decrease in demand for our products and the loss of significant customers, we will continue to invest in and develop new or upgraded products for our customers and target customers.  Also, we will be advertising our services and products through different platforms and trade exhibitions, which we hope will result in additional sales revenue for the Company. In addition, the Company will build more production facilities to generate additional rental income by leasing those facilities to third parties.”

HONG KONG, Aug. 22, 2017 (GLOBE NEWSWIRE) -- Bonso Electronics International, Inc. (NASDAQ:BNSO), a designer and manufacturer of sensor based products, reported its financial results for the fiscal year ended March 31, 2017.

The Company reported a net income of $2.79 million or $0.54 basic income per share (or $0.53 diluted income per share) for the fiscal year ended March 31, 2017, compared to a net income of $2.87 million or $0.55 basic and diluted income per share for the fiscal year ended March 31, 2016. The Company has filed its Annual Report on Form 20-F, which includes its audited financial statements for its fiscal year ended March 31, 2017, with the United States Securities and Exchange Commission ("SEC").  The Company’s Annual Report is available on the SEC's website at http://www.sec.gov.

Anthony So, the Chief Executive Officer of Bonso, stated, "Our core business of producing electronics products continues to be challenging, with net sales decreasing by 26.8% from $23.9 million for the fiscal year ended March 31, 2016, to $17.5 million for the fiscal year ended March 31, 2017. The loss of a major customer contributes to the challenge; however, we are very focused on product development and increasing cash flow through the rental of unutilized factory facilities. I am very pleased to report that our operations resulted in a net income of approximately $2.79 million for the fiscal year ended March 31, 2017, with $1.35 million generated from leasing out our excess production facilities."

Mr. So stated, "We expect to face increasing cost pressure due to inflation and increased labor costs in the future.   We intend to focus on product development with our existing and new customers, and are optimistic that these efforts will result in expanded demand for our products."

HONG KONG, July 25, 2017 (GLOBE NEWSWIRE) -- Bonso Electronics International, Inc. (BNSO), announced today that the company has signed a letter of intent with Shenzhen Fangda Property Development Company Limited (hereafter “Fangda”) to cooperate in reconstructing the existing Shenzhen factory of Bonso into a high-rise industrial and commercial complex. Fangda is a wholly owned subsidiary of Fangda Group Co., Ltd. (“Fangda Group”), which is listed on the Shenzhen Stock Exchange.

Under the terms of the letter of intent, Fangda will be responsible for applying for necessary government approvals and for financing and handling the redevelopment project.  Both companies will share the redeveloped property after reconstruction/redevelopment is completed with Bonso holding a 45% interest in the total floor area.  Entering into a definitive agreement is subject to completion of due diligence by Fangda and the negotiation and agreement between Bonso and Fangda on the detailed terms of the definitive agreement. The companies expect to reach a definitive agreement within the next three months.

If an agreement is reached, the redevelopment will start in mid-2019 and the reconstruction is expected to be finished by 2021.

Anthony So, Chief Executive Officer of Bonso said, “Fangda is a reputable developer in Shenzhen and has direct experience in redevelopment of a substantial project that is very similar to our project. We are very pleased to have entered into this letter of intent, and we believe that Fangda is exactly the type of partner to help move this project forward and to bring it to a successful conclusion for the benefit of our shareholders.”

HONG KONG, Aug. 22, 2016 (GLOBE NEWSWIRE) -- Bonso Electronics International, Inc. (BNSO), a designer and manufacturer of sensor based products, reported its financial results for the fiscal year ended March 31, 2016.

The Company reported a net income of $2.87 million or $0.55 basic and diluted income per share for the fiscal year ended March 31, 2016, compared to a net income of $1.11 million or $0.21 basic and diluted income per share for the fiscal year ended March 31, 2015. The Company has filed its Annual Report on Form 20-F, which includes its audited financial statements for its fiscal year ended March 31, 2016, with the United States Securities and Exchange Commission (“SEC”). The Company’s Annual Report is available on the SEC's website at http://www.sec.gov.

Anthony So, the Chief Executive Officer of Bonso, stated, "We are pleased to report that our operations resulted in a favorable net income of approximately $2.87 million for the fiscal year ended March 31, 2016.  With contribution from rental income of approximately $1.48 million, a gain of approximately $0.52 million on disposal of part of our land use right and a gain of approximately $0.72 million on disposal of a residential unit, our main operations on electronics products manufacturing contributed $0.15 million of net income."

Mr. So stated, “Nonetheless, our core business of producing electronics products continues to be challenging, with net sales decreasing by 17.5% from $28.9 million for the fiscal year ended March 31, 2015, to $23.9 million for the fiscal year ended March 31, 2016.  In the coming year, we believe that we will continue to face increasing cost pressure as the result of inflation, increased prices of raw materials and increased labor costs. Also, we expect that growth in the demand for our products will be limited.  We will focus on research and development efforts and cost control initiatives to cope with the challenging environment we face.”

HONG KONG, Nov. 23, 2015 (GLOBE NEWSWIRE) -- Bonso Electronics International, Inc. (BNSO) today announced that it has entered into an agreement to sell a residential unit owned by the Company in Shenzhen to a third party.

In October 2015, the Company entered into an agreement with a third party to sell a residential unit located in Shenzhen, People's Republic of China, for approximately $832,000.  The property was acquired by the company in year 2000, and was leased out to tenants for residential use.  The resulting gain before tax is expected to be approximately $744,000 (or $0.14 per share).

The final sale is subject to the buyer obtaining financing from a bank, and the final payment and transfer of the property are expected to be completed by January 31, 2016.  The gain from this transaction is expected to be reflected in the financial results of the fiscal year ended March 31, 2016.

HONG KONG, Nov. 03, 2015 (GLOBE NEWSWIRE) -- Bonso Electronics International, Inc. (NASDAQ:BNSO) today announced its unaudited results for the six-month period ended September 30, 2015.

Bonso reported a net income for the six-month period ended September 30, 2015 of $0.95 million or $0.18 basic and diluted earnings per share, as compared to a net loss of $0.17 million or $0.03 basic and diluted loss per share posted during the six-month period ended September 30, 2014.  Net sales for the six-month period ended September 30, 2015 decreased 12.0% to $12.8 million from $14.6 million for the six-month period ended September 30, 2014.

Mr. Anthony So, Chairman and CEO stated: "We are pleased that our cost reduction plan was effective.  As a result, our gross profit margins improved from 16.0% for the six-month period ended September 30, 2014, to 25.8% for the six-month period ended September 30, 2015."

Mr. So said further: "We have further strengthened our balance sheet by reducing $2.95 million of bank loans and notes payable during the six months ended September 30, 2015.  As a result, our debt to equity ratio decreased from 117.4% on March 31, 2015, to 88.5% on September 30, 2015.  We believe that our shares are undervalued, and we intend to repurchase our shares in the market as announced previously.  Also, we are focusing on developing new products with our existing and potential customers, and reducing our manufacturing costs and material costs, to increase our profitability. We are continuing our efforts to change the land use rights for our old factory and to position the Company to enter the property development market. "

HONG KONG, Sept. 30, 2015 (GLOBE NEWSWIRE) -- Bonso Electronics International, Inc. (BNSO) today announced that its Board of Directors has authorized a stock repurchase program for purchasing up to $1.5 million of its common stock.

The share repurchase plan will remain in place over the next 24 months.  Based on the closing price of the Bonso�s share of $1.19 on 28 September 2015, this would be equivalent to approximately 1.17 million shares or 23% of the outstanding shares.  Bonso�s chief executive officer, Anthony So said, "The repurchase reflects Bonso�s commitment to efficient capital management and delivering improved returns to shareholders. Further, we believe that our stock is undervalued and the repurchases are in the best interests of our shareholders."

He added: "At the same time, we are maintaining flexibility to respond to changes in market conditions and to take advantage of appropriate growth opportunities that may develop in the future."

Bonso intends to repurchase shares from time to time for cash in open market transactions or in privately-negotiated transactions in accordance with applicable federal securities laws.  The timing and the amount of any repurchases will be determined by the Company's management and Board based on its evaluation of market conditions, capital allocation alternatives, and other factors.  The share repurchase program does not require the Company to acquire any specific number of shares and may be modified, suspended, extended or terminated by the Company at any time without prior notice. 

 Disclosure: GeoInvesting is providing this information for your edification and in no way has any affiliation with any promoters and/or newsletters disseminating information on BNSO, nor is GeoInvesting being paid to post this information. At times, the GeoTeam may trade P&D's on a long or short basis, depending on how we feel the momentum of the stocks will be affected by the efforts of stock promoters and any ensuing dumps.

HONG KONG, Aug. 19, 2015 (GLOBE NEWSWIRE) -- Bonso Electronics International, Inc. (BNSO), a designer and manufacturer of sensor based products, reported its financial results for the fiscal year ended March 31, 2015. 

The Company reported a net income of $1.11 million or $0.21 basic and diluted income per share for the fiscal year ended March 31, 2015, compared to a net loss of $0.22 million or $0.04 basic and diluted loss per share for the fiscal year ended March 31, 2014. As a result, the Company�s book value per share became $2.26 as of March 31, 2015. The Company has filed its Annual Report on Form 20-F, which includes its audited financial statements for its fiscal year ended March 31, 2015, with the United States Securities and Exchange Commission (SEC).  The Company�s Annual Report is available on the SEC's website at http://www.sec.gov. 

Anthony So, the Chief Executive Officer of Bonso, stated, "We are pleased that our manufacturing facility in Xinxing, PRC, has been running smoothly for three years, and that the leasehold improvements to our new office building will be completed by December 2015.  As a result, our future capital expenditures at our new manufacturing facility will be much less when compared to prior years." 

Mr. So noted, "Bonso has rented its old Shenzhen factory to a third party and will receive approximately $1.2 million of rental income per year. Also, Bonso intends to begin the process of seeking the necessary governmental approvals to permit it to redevelop the Shenzhen factory into a high-end commercial complex in a few years that will contain retail space, office space and some residential space. If we are successful in obtaining the necessary governmental approvals for the redevelopment, we believe that the rental income derived from leasing the redeveloped property will be a significant contributing factor to our profit in the future." 

Mr. So stated, "The Company's current stock price is trading well below our book value of $2.26 as of March 31, 2015, and I believe that the Company is undervalued and the market has not accounted for the contribution from the rent of our old Shenzhen property." 

Bonso Electronics International Inc.

Consolidated Statements of Operations and Comprehensive (Loss) / Income

(Expressed in United States Dollars)

Management Discussion and Analysis

Net Sales. Our sales decreased approximately $2,361,000, or 7.5%, from approximately $31,305,000 for the fiscal year ended March 31, 2014 to approximately $28,944,000 for the fiscal year ended March 31, 2015. The decrease in sales was primarily due to our strategic decision to give up orders of certain lower margin electronic scale products.

Net (Loss) / Income. As a result of the factors described above, net income increased from a loss of approximately $221,000 for the fiscal year ended March 31, 2014 to income of approximately $1,110,000 for the fiscal year ended March 31, 2015, an increase in income of approximately $1,331,000, or 602.3%.

HONG KONG, Jan. 23, 2015 (GLOBE NEWSWIRE) -- Bonso Electronics International, Inc. (BNSO) today announced its unaudited results for the six-month period ended September 30, 2014.

Bonso reported a net loss for the six-month period ended September 30, 2014 of $0.17 million or $0.03 basic and diluted loss per share, as compared to a net loss of $0.36 million or $0.07 basic and diluted loss per share posted during the six-month period ended September 30, 2013. Net sales for the six-month period ended September 30, 2014 decreased 5.2% to $14.5 million from $15.3 million for the six-month period ended September 30, 2013.

Mr. Anthony So, President and Chief Executive Officer, stated that in our last Annual Report on Form 20-F we advised that "in seeking to return to profitability, we had analysed our product mix and concluded that we were most likely to return to profitability if we eliminated the production and sale of lower margin products that required the employment of larger numbers of workers and the commitment of substantial resources to carry or stock raw materials and components inventory." We had discussions with our largest customers for lower margin electronic scale products and advised that without substantial price increases, we would not be in position to continue manufacturing those products. The customers did not agree to the price increases that we requested, and began shifting this lower margin business to alternative suppliers. Mr. So said "we believe that revenue will further decrease in the future, and our profit margins will improve." Also, "management believes that the Company will achieve higher return from investment in the future as a result of this strategic decision together with the extra rental income generated from the Shenzhen factory."

HONG KONG, Aug. 26, 2014 (GLOBE NEWSWIRE) -- Bonso Electronics International, Inc. (BNSO), a designer and manufacturer of sensor based products, reported its financial results for the fiscal year ended March 31, 2014.

The company reported a net loss of $0.22 million or $0.04 basic and diluted loss per share, and a comprehensive income of $0.04 million for the fiscal year ended March 31, 2014. Net sales for the fiscal year ended March 31, 2014 increased 3.0% to $31.31 million from $30.39 million for the fiscal year ended March 31, 2013.

Anthony So, the Chief Executive Officer of Bonso, stated, "We are pleased that revenue increased over the prior year and with the reduction in our net loss from $0.76 million for the fiscal year ended March 31, 2013, to $0.22 million for the fiscal year ended March 31, 2014. We were able to decrease our loss in spite of the fact that our operations in China continue to be affected by inflation, especially increased labor costs. The minimum wage for workers has doubled in the last five years as the result of government required increases in the minimum wage. Our strategy to improve our financial performance is to eliminate or reduce sales of our low profit margin products and to focus our skill and resources in higher margin products including high precision industrial electronic scales."

Mr. So said that, "We completed moving all of our production processes to our new factory in February 2014 in order to reduce our labor costs. Also, the old factory is rented out to generate extra rental income to the Company. We believe that our strategy and these moves will enable us to return to profitability in the long run."

Bonso Electronics reports a profit for the six-month period ended September 30, 2010.  Comments were also strong:

• Net income for the six-month period ended September 30, 2010 of $0.27 million or $0.05 basic and diluted earnings per share, as compared to a net loss of $0.97 million or $0.19 basic and diluted loss per share posted during the six-month period ended September 30, 2009.

• Net sales for the six-month period ended September 30, 2010 increased 11% to $16.5 million from $14.9 million for the six-month period ended September 30, 2009.

Mr. Anthony So, President and CEO, stated, "I am pleased to report that the revenue for sensor based products grew by 17% during the six-month period ended September 30, 2010, as compared to the same period last year. As a result, our overall revenue grew by 11%, which resulted in a net gain of $0.27 million. We expect the demand for our products will continue to grow, and believe that we will be utilizing the increased production capacity with the manufacturing facility of our new factory in the second half of calendar year 2011."

GeoTeam® Note: BNSO is still selling below its book value per share is $2.59.  Be aware that this company has had a significant problem reporting consistent profitable EPS quarters in the past, but it does appear that BNSO may be on its way to reporting its first profitable year in several years.

On January 27, 2010 Bonso Electronics announced financial results for the six-month period ended September 30, 2009.

• Net sales for the six-month period ended September 30, 2009, decreased to $14.9 million as compared to $22.4 million during the same period last year.
  
• Net loss was $0.97 million or $0.17 per share (diluted) as compared to an income of $0.44 million or $0.08 per share (diluted) during the same period last year.

Mr. Anthony So, Chairman and Chief Executive Officer of Bonso, stated, “Revenue for the first six months was low due to the worldwide financial crisis and general lack of demand for consumer products due to poor economic conditions. We expect that increased orders received during the second half of the year will offset some of the losses recorded in the first six months of the year.”

GeoTeam® Note:

• Company comments that it may be able to offset losses from the first six months could imply some pretty substantial EPS numbers.  Their statement is still vague.
  
• Selling below its book value per share is $2.26.