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Bonso Electronics Reports Half Year Results

Stocks in this article: BNSO

HONG KONG, Jan. 2, 2013 (GLOBE NEWSWIRE) -- Bonso Electronics International, Inc. (Nasdaq:BNSO) today reported its financial results for the six-month period ended September 30, 2012.

Bonso reported a net income for the six-month period ended September 30, 2012 of $0.13 million or $0.02 basic and diluted earnings per share, as compared to a net loss of $0.18 million or $0.03 basic and diluted loss per share posted during the six-month period ended September 30, 2011. Net sales for the six-month period ended September 30, 2012increased 16.5% to $16.3 million from $14.0 million for the six-month period ended September 30, 2011.

Mr. Anthony So, President and CEO stated: "Along with the $2.3 million increase in revenue, we are very pleased with the improvement in our gross profit margin from 16.1% for the six month period ended September 30, 2011 to 18.4% for the comparable period in 2012. We accomplished the improvement in our gross profit even though raw material costs and labor costs were higher. We expect the demand for our products will continue to increase in calendar year 2013."

About Bonso Electronics

Bonso Electronics designs, develops, manufactures, assembles and markets a comprehensive line of electronic scales, weighing instruments, and health care 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,'' or similar expressions. Forward-looking statements made in this press release, which relate to the the demand for our products, among other things,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.  

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