Bonso Reports Half Year Results

HONG KONG, Nov. 03, 2015 Bonso Electronics International, Inc. (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. ”

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. 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 reduction of losses and a positive impact upon our future operations as a result of the sale of assets 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.

The diluted net loss per share was the same as the basic net loss per share for the six-month periods ended September 30, 2014 and 2015 as all potential ordinary shares including the stock options and warrants are anti-dilutive and are therefore excluded from the computation of diluted net loss per share.

-- Tables to Follow –

 

For more information please contact:
                                                                                                 
Albert So
Chief Financial Officer and Secretary
Tel: 852 2605 5822
Fax: 852 2691 1724