THINSOFT<08096> - Results Announcement (Q1, 2003, Summary)
ThinSoft (Holdings) Inc announced on 14/05/2003:
(stock code: 08096)
Year end date :31/12/2003
Currency :HKD
Auditors' report :N/A
Review of 1st Quarterly Report by :Audit Committee & Auditors
Important Note :
This result announcement form only contains extracted information from
and should be read in conjunction with the detailed results announcement
of the issuer, which can be viewed on the GEM website at
http://www.hkgem.com
(Unaudited) (Unaudited)
Current Last
Corresponding
Period Period
from 01/01/2003 from 01/01/2002
to 31/03/2003 to 31/03/2002
$'000 $'000
Turnover : 3,112 6,488
Profit/(Loss) from Operations : (4,479) 992
Finance cost : 0 0
Share of Profit/(Loss) of Associates : 0 0
Share of Profit/(Loss) of Jointly
Controlled Entites : 0 0
Profit/(Loss) after Taxation & MI : (4,479) 992
% Change Over the Last Period : N/A
EPS / (LPS)
Basic (in dollar) : (HKD 0.0089) HKD 0.0016
Diluted (in dollar) : N/A HKD 0.0014
Extraordinary (ETD) Gain/(Loss) : 0 0
Profit (Loss) after ETD Items : (4,479) 992
1st Quarterly Dividends per Share : NIL NIL
(specify if with other options) : N/A N/A
B/C Dates for 1st Quarterly Dividends : N/A
Payable Date : N/A
B/C Dates for (-) General Meeting : N/A
Other Distribution for Current Period : NIL
B/C Dates for Other Distribution : N/A
For and on behalf of
ThinSoft (Holdings) Inc
Signature :
Name : Ngiam Mia Hai Bernard
Title : Executive Director
Responsibility statement
The directors of the Company (the "Directors") as at the date hereof
hereby collectively and individually accept full responsibility for the
accuracy of the information contained in this results announcement form
(the "Information") and confirm, having made all reasonable inquiries,
that to the best of their knowledge and belief the Information are
accurate and complete in all material respects and not misleading and
that there are no other matters the omission of which would make the
Information herein inaccurate or misleading. The Directors acknowledge
that the Stock Exchange has no responsibility whatsoever with regard
to the Information and undertake to indemnify the Exchange against all
liability incurred and all losses suffered by the Exchange in connection
with or relating to the Information.
Remarks:
1. BASIS OF PREPARATION
These financial statements have been prepared in accordance with
Hong Kong Statements of Standard Accounting Practice, accounting
principles generally accepted in Hong Kong and the disclosure
requirements of the Hong Kong Companies Ordinance. They have been
prepared under the historical cost convention.
The consolidated financial statements have been prepared using
the merger basis of accounting.
2. TURNOVER
Turnover represents the net invoiced sales and services rendered,
less discounts, returns, and applicable goods and services taxes.
3. TAX
Hong Kong profits tax has not been provided as the Group did not
generate any assessable profits in Hong Kong during the period
(2002: Nil).
ThinSoft Pte Ltd, a company incorporated in Singapore, is subject
to Singapore income tax. Singapore income tax has been provided
at the rate of 22% (2002: 22%) on the estimated assessable profits
arising in Singapore for the period ended 31 March 2003.
ThinSoft (USA) Inc, a company incorporated in the State of Delaware
in the United States of America and operating in the State of
California in the United States of America, is subject to the
United States federal income tax at progressive rates ranging from
15% to 39%, and California state corporate tax at a rate of 8.84%
(2002: 8.84%) for the period ended 31 March 2003, on its estimated
assessable profits arising on a world wide basis.
There was no unprovided deferred tax in respect of the period
(2002: Nil).
4. (LOSS)/EARNINGS PER SHARE
The loss per share for the three months ended 31 March 2003 is
calculated based on the unaudited loss from ordinary activities
attributable to shareholders for the three months ended
31 March 2003 of approximately HK$4,479,000 and the weighted
average of 500,800,000 shares in issue during the period.
No diluted loss per share for the three months ended 31 March 2003
is presented because the share options outstanding had an
anti-dilutive effect on the basic loss per share for the period.
The calculation of the diluted earnings per share for the three
months ended 31 March 2002 is based on the unaudited combined net
profit attributable to shareholders of the Company for the three
months ended 31 March 2002 and 468,620,271 shares, being
423,611,111 shares as used in the calculation of basic earnings
per share, and the weighted average of 45,009,160 shares assumed
to have been issued at no consideration on the deemed exercise
of the pre-IPO share options.
5. DIVIDENDS
The directors do not recommend the payment of any dividend for
the three months ended 31 March 2003 (2002: Nil).
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