News this week: This week, NASDAQ-listed B2B
media company Global Sources
released an update on its first half revenue forecast.
Revenue forecast has
been revised down from the previous range of US$108 million to US$110 million
to the range of US$104 million to US$106 million. Company management also
expects EPS to drop from the range of US$0.36 to US$0.38, to the range of
US$0.31 to US$0.34.
Merle A. Hinrichs,
executive chairman of Global Sources, commented, “Our customers have become
increasingly conservative with their marketing budgets and as such we are now
revising our revenue and net income expectations for the first half of 2012. It
has become clear that exporters are reacting to the slowdown in exports and the
uncertainty in the global economy. In addition to the soft demand from the
United States and the European Union, we have also been affected by the
political situation in the Middle East, where we now expect significantly less
exhibitors for our May shows in Dubai. As such, we anticipate less than
expected revenue for the first half of 2012.”
This post is excerpted from BSG's weekly e-newsletter
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