VANDA SYSTEMS<00757> - Results Announcement (Summary)
Vanda Systems & Communications Holdings Limited announced on 12/12/2002 :
(stock code: 757)
Year end date: 31/3/2003
Currency: HKD
Auditors' Report: N/A
Review of Interim Report by: Audit Committee
(Unaudited)
(Unaudited) Last
Current Corresponding
Period Period
from 1/4/2002 from 1/4/2001
to 30/9/2002 to 30/9/2001
('000) ('000)
Turnover : 477,161 586,807
Profit/(Loss) from Operations : (5,488) (4,485)
Finance cost : (9,781) (14,408)
Share of Profit/(Loss) of Associates : 312 495
Share of Profit/(Loss) of
Jointly Controlled Entities : - -
Profit/(Loss) after Tax & MI : (17,269) (17,291)
% Change over Last Period : N/A
EPS/(LPS)-Basic : (4.10 cents) (4.12 cents)
-Diluted : N/A N/A
Extraordinary (ETD) Gain/(Loss) : - -
Profit/(Loss) after ETD Items : (17,269) (17,291)
Interim Dividend per Share : NIL NIL
(Specify if with other options) : N/A N/A
B/C Dates for Interim Dividend : N/A
Payable Date : N/A
B/C Dates for (-) General Meeting : N/A
Other Distribution for Current Period : N/A
B/C Dates for Other Distribution : N/A
Remarks:
1. ANALYSIS OF TURNOVER
(Unaudited)
Six months ended
30th September,
2002 2001
HK$'000 HK$'000
Turnover
Continuing operations 476,993 571,503
Discontinued operations 168 15,304
------------------------
477,161 586,807
========= =========
2. ANALYSIS OF PROFIT / (LOSS) FROM CONTINUING OPERATIONS AND DISCONTINUED
OPERATIONS
(Unaudited)
Six months ended
30th September,
2002 2001
HK$'000 HK$'000
Profit/(loss) from operating activities
Continuing operations (5,165) (16,406)
Discontinued operations (323) 11,921
-----------------------
(5,488) (4,485)
========= =========
3. PROFIT / (LOSS) FROM OPERATING ACTIVITIES
(Unaudited)
Six months ended
30th September,
2002 2001
HK$'000 HK$'000
This is arrived at after charging / (crediting) :
Depreciation 6,879 10,415
Amortisation of deferred development costs
- 118
Amortisation of goodwill - 248
Interest on :
Bank and supplier loans wholly repayable within five years
3,001 6,083
Finance leases - 8
Convertible bonds 6,780 8,317
Provisions for and write-off of bad and doubtful debts
4,277 1,338
Provisions / (write back of provisions) against inventories *
(6,777) 8,758
Cost of inventories sold 377,604 457,908
Loss on disposal of subsidiaries1,941 -
Interest income (2,248) (3,780)
Gain on disposal of an associate- (561)
========= =========
* Amounts included in cost of inventories sold
4. LOSS PER SHARE
The calculation of the basic loss per share for the period is based on the
net loss attributable to shareholders of HK$17,269,000 (2001:
HK$17,291,000) and the weighted average of 421,461,735 (2001: 419,805,795)
ordinary shares in issue during the period.
Diluted loss per share amounts for the current and prior periods have not
been shown because the potential ordinary shares of the Group outstanding
during both periods had an anti-dilutive effect on the basic loss per
share for the periods.
5. COMPARATIVE AMOUNTS
Certain comparative amounts have been reclassified to conform to the
current period's presentation.
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