Quarterly Results announcement form Name of listed company : Timeless Software Limited Stock code : 8028 Year end date : 31/03/2002 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 Currency: HK$'000 (Unaudited) (Unaudited) Quarterly Results Announcement Current Last Corresponding Period Period from 01/04/2001 from 01/04/2000 to 31/12/2001 to 31/12/2000 HK$'000 HK$'000 Turnover : 76,747 109,145 Profit/(Loss) from Operations : 11,504 43,996 Finance cost : -3,688 -4,791 Share of Profit/(Loss) of Associates : -3 0 Share of Profit/(Loss) of Jointly Controlled Entites : -311 0 Profit/(Loss) after Taxation & MI 9,258 33,705 % Change Over the Last Period : -72.53 % EPS / (LPS) - Basic : 1.15 cents 4.49 cents - Diluted : N/A N/A Extraordinary (ETD) Gain/(Loss) : 0 0 Profit (Loss) after ETD Items : 9,258 33,705 3rd Q Dividend per Share : NIL NIL (specify if with other options) : N/A N/A B/C Dates for 3rd Q Dividend : N/A to N/A bdi. Payable Date : N/A B/C Dates for AGM/SGM : N/A to N/A bdi. Other Distribution for Current Period : NIL B/C Dates for Other Distribution : N/A to N/A bdi. (bdi: both days inclusive) For and on behalf of Timeless Software Limited Signature : Name : Cheng Kin Kwan Title : Chairman 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 presentation The accounts have been prepared in accordance with accounting principles generally accepted in Hong Kong and comply with accounting standards issued by the Hong Kong Society of Accountants. The accounts are prepared under the historical cost convention. The unaudited consolidated results include the results of the Company and all its subsidiaries made up to 31 December. The results of subsidiaries acquired or disposed of during the period are included in the consolidated profit and loss account from the effective date of acquisition or up to the effective date of disposal, as appropriate. All significant intercompany transactions and balances within the Group are eliminated on consolidation. 2. Earnings per share The calculation of the basic earnings per share is based on the Group's profit attributable to shareholders for the nine and three months ended 31 December 2001 of HK$9,258,000 and HK$6,399,000 (2000: HK$33,705,000 and HK$3,666,000) and the weighted average number of 808,483,653 shares and 830,798,129 shares (2000: 750,414,545 shares and 751,239,130 shares) in issue during the periods. No diluted earnings per share has been presented for the nine and three months ended 31 December 2001 as there is no material dilution arising from the share options granted by the Company and the outstanding convertible note has anti-dilutive effect. No diluted earnings per share has been presented for the nine and three months ended 31 December 2000 as the outstanding convertible note has anti-dilutive effect.