Thursday, November 15, 2007

Global Sources reports strong quarter

Global Sources has just announced a strong 3rd quarter. Highlights in their press release are as follows (comparisons are with Q3 2006):

• Revenue was $33.8 million, up 15% from $29.3 million.
- Online revenue was $19.7 million, up 18% from $16.7 million.
- Print revenue was $12.6 million, up 6% from $11.9 million.
• Revenue from mainland China was $19.9 million, up 28% from $15.5 million.
• EPS was $0.12 per diluted share, up 20% from $0.10.
• Total deferred income and customer prepayments were $88.1 million as at Sept. 30,
2007, up 28% from $68.7 million as at Sept. 30, 2006.

The 30% growth in mainland income might provide a sensible benchmark for future growth over at Alibaba. By my reckoning, print media in China is growing at about 5 - 10% while exhibitions are likely to be up this year in the region of 25% and online 30%. So, these numbers are absolutely in line with my sense of the market.

This is one of Global Sources' 'quiet' quarters as they don't recognise any major exhibitions income in this period.

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