Thursday, May 22, 2008

Global Sources posts strong Q1

It looks as though the first quarter has been strong for Global Sources. Highlights of the just-released Q1 numbers:

  • Revenue was $40.6 million, up 16% from $34.9 million.
    ∗ Online revenue was $21.9 million, up 27% from $17.3 million.
    ∗ Exhibitions revenue was $6.0 million, up 24% from $4.8 million.
    ∗ Print revenue was $11.6 million, down 1% from $11.8 million.
    ∗ Revenue from mainland China was $24.1 million, up 30% from $18.4 million.
  • GAAP net income was $8.2 million vs. $6.5 million in 2007, up 26.1%
CFO Eddie Heng said "For the rest of 2008, we expect online and trade shows to continue to serve as the main growth drivers, and we anticipate revenue from China to continue growing faster than overall revenue. We also expect a positive impact from expanding sales representation for all of our products.”

Q2 revenue guidance has been increased to US$62 - 63 million.

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