Bonso Electronics Reports Year End Results
23 Agosto 2019 - 7:35PM
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, 2019.
The Company reported a net loss of $0.46 million
or $0.10 basic and diluted loss per share for the fiscal year ended
March 31, 2019. The Company has filed its Annual Report on Form
20-F, which includes its audited financial statements for its
fiscal year ended March 31, 2019, 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/.
Andrew So, the Chief Executive Officer of Bonso,
stated, "Our core business of producing electronic products
continues to be challenging, with net revenue of the Company
decreasing by 13% from $11.5 million for the fiscal year ended
March 31, 2018, to $10.0 million for the fiscal year ended March
31, 2019. We remain cautiously optimistic that business will
improve in the future -- supported by ongoing pro-active strategic
initiatives and new product developments. However, the demand for
our electronic products may remain low for some time due to an
escalating trade war between the United States and China, and we
will continue to monitor the trade tension and adjust our strategy
if necessary.”
Mr. So further commented, “Our company’s balance
sheet remains strong, despite the losses. Total cash and total
current assets at March 31, 2019 were $7.5 million and $10.4
million, respectively, with working capital of $6.2 million and a
current ratio of 2.5:1.”
About Bonso Electronics
Bonso Electronics designs, develops,
manufactures, assembles and markets a comprehensive line of
electronic scales, weighing instruments and pet electronic
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 rents factory space and equipment to third parties and is
also continuing the process to obtain the necessary approvals to
redevelop the land upon which its Shenzhen factory is 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
reduction of losses and a positive impact upon our future
operations 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
SoChief Financial Officer and SecretaryTel: 852 2605 5822Fax: 852
2691 1724SOURCE Bonso Electronics
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