Yes, I think the Horn Blower could be on margin. BNSO just reported and in my opinion WAY overvalued. CHST and BNSO could crash soon. Wonder if the horn blower sues his broker?
Bonso Electronics Reports Year-End Gains in Revenues and Net Income
HONG KONG--(BUSINESS WIRE)--July 6, 2000--Bonso Electronics International Inc. (Nasdaq: BNSO) today reported net income of $348,000, or $0.0989 cents per basic share, on revenues of $15,380,000 for the fiscal year ended March 31, 2000.
Revenues increased 17.8 percent over the $13,046,000 reported in the 1999 fiscal year in which net income was $14,000, or less than $0.0045 per basic share. Operating income was up 10.7 percent to $270,000 for the year ended March 31, 2000, compared to $244,000 in the prior year.
"Bonso achieved a major diversification goal during the fourth quarter with the award of contracts to manufacture two-way radio products for the U.S. market, using the Family Radio Service frequencies allocated by the FCC, and cordless telephones to be marketed by a European telecommunications firm," said Anthony So, Bonso chairman, president and CEO. "These contracts will have a significant impact on revenues and earnings throughout the coming year."
During the year, the company expanded its organization, facilities and manufacturing capacity to complete the transition to a full electronic manufacturing services provider, which includes design engineering, total quality and supply chain management and production of complete end products, he added.
About Bonso Electronics
Headquartered in Hong Kong, Bonso Electronics designs, develops, manufactures, assembles and markets a comprehensive line of telecommunication products, electronic scales and weighing instruments and health care products. Bonso products are manufactured in the People's Republic of China on behalf of 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 www.bonso.com.
The statements contained in the press release which are not historical facts are forward-looking statements that involve certain risks and uncertainties including, but not limited to, risks associated with the uncertainty of future financial results, additional financing requirements, development of new products, government approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties detailed in the company's filings with the Securities and Exchange Commission.
FINANCIAL SUMMARY
For the Year Ended March 31,
2000 1999
---- ----
Revenues $15,380,000 $13,046,000
Gross Profit 4,262,000 4,234,000
Income From Operations 270,000 244,000
Income (Loss) Before Taxes 345,000 (22,000)
Tax Benefit 3,000 36,000
Net Income $ 348,000 $ 14,000
Earnings Per Share:
Basic $0.0989 $0.0045
Diluted $0.0874 $0.0037
Weighted Average
Shares Outstanding 3,515,690 3,079,219
CONTACT:
Bonso Electronics International Inc., Hong Kong
Email address: info@bonso.com
or
North America Company Contact:
George O'Leary, 949/760-9611
Fax: 949/760-9607
KEYWORD: CALIFORNIA INTERNATIONAL ASIA PACIFIC
BW2210 JUL 06,2000
6:15 PACIFIC
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