BONSO ELECTRONICS INTERNATIONAL INC

CIK:0000846546|SEC Filings

Consolidated Statements of Operations and Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Income Statement [Abstract]
Net revenue	$ 14,801	$ 15,590	$ 13,096
Cost of revenue	(7,679)	(5,940)	(5,690)
Gross profit	7,122	9,650	7,406
Selling, general and administrative expenses	(9,529)	(8,924)	(7,479)
Other income, net	189	480	435
Income / (loss) from operations	(2,218)	1,206	362
Non-operating income / (expenses), net	(131)	(49)	36
Income / (loss) before income taxes	(2,349)	1,157	398
Income tax benefit / (expense)	(411)	614	0
Net income / (loss)	(2,760)	1,771	398
Other comprehensive (loss) / income, net of tax:
Foreign currency translation adjustments, net of tax	707	1,051	(985)
Comprehensive (loss) / income	(2,053)	2,822	(587)
Net income / (loss) attributable to common shareholders	$ (2,760)	$ 1,771	$ 398
Net earnings / (loss) per share
- basic	$ (0.57)	$ 0.36	$ 0.09
Weighted average number of shares outstanding in calculating net earnings per share
- basic	4,857,187	4,880,422	4,646,966
Net earnings / (loss) per share
- diluted	$ (0.57)	$ 0.34	$ 0.08
Weighted average number of shares outstanding in calculating net earnings per share
- diluted	4,857,187	5,145,260	4,816,736

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Cash flows from operating activities
Net income / (loss)	$ (2,760)	$ 1,771	$ 398
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	856	812	841
Amortization	285	269	264
Loss / (gain) on disposal of property, plant and equipment	8	(237)	3
Write-down of inventories	284	108	87
Change in cash surrender value of life insurance contract	(4)	(5)	(5)
Change in fair value of financial instruments	12	(17)	5
Dividend income from financial instruments at fair value	(7)	(4)	(4)
Coupons received from financial instruments at amortized cost	(48)	(48)	(79)
Loss / (gain) from sale of financial instruments at fair value	107	(6)	1
Loss from redemption of financial instruments at amortized cost	0	0	4
Interest expense	118	125	114
(Increase) / decrease in deferred tax asset	446	(779)	0
Impairment on financial instruments at amortized cost	522
Changes in assets and liabilities:
Trade receivables	(214)	(462)	(230)
Other receivables, deposits and prepayments	(296)	214	(203)
Inventories	(1,314)	62	(513)
Right-of-use assets	99	90	(308)
Accounts payable	(41)	(248)	379
Contract liabilities	3	305	(5)
Accrued charges and deposits	78	(28)	20
Refund liabilities	(1)	(40)	69
Payable to affiliated parties	1	(1)	24
Income tax liabilities	(165)	165	0
Lease liabilities	(99)	(90)	308
Long-term deposit received	117	54	(45)
Long-term loan	31	(26)	33
Net cash provided by / (used in) operating activities	(1,982)	1,984	1,158
Cash flows from investing activities
Proceeds from disposal of property, plant and equipment	20	909	32
Acquisition of property, plant and equipment	(1,205)	(700)	(260)
Acquisition of financial instruments at fair value	(812)	(613)	(68)
Acquisition of financial instruments at amortized cost	0	0	(1,007)
Coupons received from financial instruments at amortized cost	48	48	59
Proceeds from sale of financial instruments at fair value	801	188	110
Proceeds from redemption of financial instruments at amortized cost	0	0	500
Dividends received from financial instruments at fair value	7	4	4
Net cash used in investing activities	(1,141)	(164)	(630)
Cash flows from financing activities
Finance lease payments	0	(5)	(28)
Advance from notes payable	228	52	14
Repayment of notes payable	(178)	(27)	(14)
Advance from bank loans	0	0	1,769
Repayment of bank loans	(709)	(970)	(278)
Stock repurchase	0	(190)	(119)
Proceeds from options exercised	0	0	323
Net cash generated / (used in) from financing activities	(659)	(1,140)	1,667
Net increase / (decrease) in cash and cash equivalents	(3,782)	680	2,195
Effect of exchange rate changes on cash and cash equivalents	462	269	(611)
Cash and cash equivalents, beginning of year	10,060	9,111	7,527
Cash and cash equivalents, end of year	6,740	10,060	9,111
Cash paid during the year for:
Interest	16	33	64
Income tax	$ 130	$ 0	$ 0

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Current assets
Cash and cash equivalents	$ 6,740	$ 10,060
Trade receivables, net	1,493	1,279
Other receivables, deposits and prepayments	762	466
Inventories	2,127	1,097
Income tax recoverable	5	5
Financial instruments at fair value	395	504
Total current assets	11,522	13,411
Investment in life insurance contract	167	163
Financial instruments at amortized cost	0	523
Property, plant and equipment, net	9,995	9,500
Intangible assets, net	1,600	1,813
Deferred tax asset	333	779
Right-of-use assets	133	232
Total assets	23,750	26,421
Current liabilities
Notes payable – secured	74	25
Bank loans – secured	258	967
Accounts payable	531	572
Contract liabilities	320	317
Accrued charges and deposits	3,243	3,165
Refund liabilities	28	29
Payable to affiliated parties	80	79
Income tax payable	0	165
Lease liabilities	114	105
Total current liabilities	4,648	5,424
Lease liabilities (non-current)	19	127
Long-term loan	2,922	2,773
Long-term deposit received	818	701
Total liabilities	8,407	9,025
Stockholders’ equity
Preferred stock par value $0.03 per share - $0.01 par value (authorized: 10,000,000 shares; no shares issued and outstanding as of March 31, 2021 and 2022)	0	0
Common stock par value $0.003 per share - authorized shares - 23,333,334 - issued shares: March 31, 2021: 5,828,205; March 31, 2022: 5,828,205. - outstanding shares: March 31, 2021: 4,857,187; March 31, 2022: 4,857,187.	17	17
Additional paid-in capital	22,795	22,795
Treasury stock at cost: March 31, 2021: 971,018; March 31, 2022: 971,018.	(3,082)	(3,082)
Accumulated deficit	(7,083)	(4,323)
Accumulated other comprehensive income	2,696	1,989
Total stockholders' equity	15,343	17,396
Total liabilities and stockholders’ equity	$ 23,750	$ 26,421