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Global Sources – GSOL – For the quarter achieved revenue of $38.9 million

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Global Sources Ltd. (NASDAQ: GSOL) reported financial results for the first quarter ended March 31, 2012.

Global Sources’ executive chairman, Merle A. Hinrichs, commented: “For the quarter, we achieved revenue of $38.9 million driven by growth in our online business. Looking forward, our customers are becoming more conservative with their marketing budgets due to the slowdown in exports and the continued softening of the global economy.”

  • Reported revenue of $38.9 million driven by 13% growth in online revenue
  • Posted IFRS EPS of $0.09 and Non-IFRS EPS of $0.10

Financial highlights – First quarter: 2012 compared to 2011


  • Revenue was $38.9 million, as compared to $37.5 million.
  • Online revenue was $30.9 million, as compared to $27.2 million.
  • Exhibitions revenue was $2.2 million, as compared to $4.4 million.
  • Print revenue was $4.3 million, as compared to $4.7 million.
  • IFRS net income, was $3.1 million or $0.09 per diluted share compared to first quarter 2011 IFRS net income of $3.5 million, or $0.10 per diluted share.
  • Non-IFRS net income was $3.7 million, or $0.10 per diluted share, as compared to $4.1 million, or $0.12 per diluted share, for the first quarter of 2011.
  • Adjusted EBITDA was $5.4 million, as compared to $5.5 million for the first quarter of 2011.
  • Total deferred income and customer prepayments were $129.4 million as at March 31, 2012, as compared to $124.0 million as at March 31, 2011.

Global Sources’ CFO, Connie Lai, said: “Our revenue comparison for the first quarter was affected by the movement of one of our trade shows from January 2012 into December 2011. “We expect the revenue mix for the first half to range between 58% and 59% for online, 30% and 31% for exhibitions, 7% and 8% for print, and approximately 3% for miscellaneous. In comparison, the revenue mix for the first half of 2011 was approximately 55% for online, 32% for exhibitions, 10% for print, and 3% for miscellaneous.”

About Global Sources  – GSOL

Global Sources (GSOL) is a leading business-to-business media company and a primary facilitator of trade with Greater China. The core business facilitates trade between Asia and the world using English-language media such as online marketplaces, print and digital magazines, sourcing research reports, private sourcing events, trade shows, and online sourcing fairs.

Over 1.18 million international buyers, including 85 of the world’s top 100 retailers, use these services to obtain product and company information to help them source more profitably from overseas supply markets. These services also provide suppliers with integrated marketing solutions to build corporate image, generate sales leads and win orders from buyers in more than 240 countries and territories.

GSOL’ other businesses provides Chinese-language media to companies selling to and within Greater China. These services include online web sites, print and digital magazines, seminars and trade shows. In mainland China, Global Sources has a network of more than 40 office locations and a community of over 4 million registered online users and magazine readers of its Chinese-language media.

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edliston
Post Written By: Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.


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Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing.

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