Bonso Electronics International Inc. Announces Improved Financial Results for the First Quarter Ended June 30, 1997.HONG KONG--(BUSINESS WIRE)--Sept. 10, 1997--Bonso Electronics International Inc. (the "Company") (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : Bing income increased 3.67% for the first quartended June 30, 1996. "The steady growth in the first quarter represents solid performance," remarked Anthony So, Bonso's Chairman and Chief Executive Officer. "The increase in sales reflects expansion of our business with both mproved financial performance during the balance of our fiscal year." Bonso Electronics designs, deveNC. CONSOLIDATED BALANCE SHEET consolidated balance sheet A balance sheet in which assets and liabilities of a parent company and its controlled subsidiaries are combined, thereby presenting balance sheet items for the parent and its subsidiaries as if they were a single firm. (In Thousands of U.S. Dollars) 1,592 2,117 Deferred income 215 462 Property, plant & equipment (net) 11,472 10,804 Total Assets $ 20,344 $ 20,516 LIABILITIES AND SHAREHOLDERS' EQUITY Shareholders' Equity A firms' total assets minus its total liabilities. Equivalently, it is share capital plus retained earnings minus treasury shares. Shareholders' equity is the amount by which a company is financed through common and preferred shares. Current liabilities Current Liabilities Usually appearing on a company's balance sheet, it represents the amount owed for interest, accounts payable, short-term loans, expenses incurred but unpaid, and other debts due within one year. : Bank overdrafts, notes payable to banks and short-term bank loans $ 3,347 $ 3,728 Accounts payable, accrued charges and deposits 3,274 3,128 Income taxes payable (21) Current portion of long-term debt Current Portion Of Long-Term Debt A portion of the balance sheet that represents the total amount of long-term debt that must be paid within the next year. The balance sheet has a liability section, which is broken down into long-term and current debt. & capital lease obligations 447 731 Total Current Liabilities 7,047 7,587 Long term loan and capital lease 721 787 Deferred income taxes -- -- Minority interests -- -- Shareholders' equity: Common stock par value $0.003 per share authorized au·thor·ize tr.v. au·thor·ized, au·thor·iz·ing, au·thor·iz·es 1. To grant authority or power to. 2. To give permission for; sanction: 23,222,224 shares issued and outstanding 2,825,949 shares 8 8 Additional paid in capital 8,706 8,706 Retained earnings Retained Earnings The percentage of net earnings not paid out in dividends, but retained by the company to be reinvested in its core business or to pay debt. It is recorded under shareholders equity on the balance sheet. 3,653 3,238 Cumulative translation adjustments 209 190 Shareholders' equity 12,576 12,142 Total Liabilities and Shareholders' Equity $ 20,344 $ 20,516 BONSO ELECTRONICS INTERNATIONAL INC. CONSOLIDATED INCOME STATEMENT consolidated income statement An income statement that combines the income statements of two or more organizations. As with other consolidated statements, a consolidated income statement eliminates any funds owed to or due from firms within the same group. (In Thousands of U.S. Dollars) (Unaudited) Three months ended June 30, 1997 1996 Sales $ 5,168 $ 3,975 Cost of Sales (3,772) (2,306) Gross Profit 1,396 1,669 Operating Expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. Selling, general, administrative and research and development expenses (916) (1,163) Equity loss of an affiliate -- (43) Income from operations 480 463 Other income 37 39 Foreign exchange gains/(losses) 1 (36) Interest expenses (103) (143) Income before income taxes 415 323 Minority interests -- 2 Net income $ 415 $ 325 Per share amounts (in dollars): Earnings per share $ 0.146 $0.115 Weighted average number of shares 2,845,318 2,825,949 CONTACT: Bonso Electronics International Inc. Ray Mehra, 630/904-1630 (North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. contact) Fax: 630/904-1632 |
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