Bonso Electronics Reports Year End Results
August 22 2016 - 8:20AM
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, 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.”
About Bonso Electronics
Bonso Electronics designs, develops,
manufactures, assembles and markets a comprehensive line of
electronic scales, weighing instruments, health care products and
pet electronics products. Bonso products are manufactured in the
People's Republic of China for 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. Bonso is also beginning the process to redevelop the
land upon which its Shenzhen factory was previously located. For
further information, visit the company's web site at
http://www.bonso.com.
This news release includes forward looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities and Exchange
Act of 1934, as amended. Forward looking statements may be
identified by such words or phrases as "should,'' "intends,'' "is
subject to,'' "expects,'' "will,'' "continue,'' "anticipate,''
"estimated,'' "projected,'' "may,'' "I or we believe,'' ``future
prospects,'' "our strategy" or similar expressions. Forward-looking
statements made in this press release, which relate to the positive
impact resulting from the sale of certain land use rights involve
known and unknown risks and uncertainties that may cause the actual
results to differ materially from those expected and stated in this
announcement. We undertake no obligation to update
“forward-looking” statements.
For more information please contact:
Albert So
Chief Financial Officer and Secretary
Tel: 852 2605 5822
Fax: 852 2691 1724
SOURCE Bonso Electronics
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