News this week: Yesterday, NASDAQ-listed Global
Sources released its financial results for the quarter
ended 30th June 2014. Revenues in the quarter were US$58.3 million,
a year-on-year decrease of 5%. Net profit attributable to shareholders was US$7
million in the period, a drop of 58% from 2013.
Global Sources’ revenues from exhibitions were US$32.4 million down 2.7% compared
with last year, and accounted for 56% of total revenues. Online business
accounted for 36% of total revenues, which amounted to US$20.8 million. Online
revenues were down 8% vs. last year. Revenues from print services were down 14%
to US$3.0 million and accounted for 5% of total revenues.
Merle A. Hinrich, Global Sources’ executive chairman, commented, “In the second
quarter, our export trade shows in Hong Kong performed very well and featured
our largest-ever electronics series, including the inaugural Mobile Electronics
show. We are encouraged by the strength of our exhibition business as we
continue to specialise and address the markets we believe offer the greatest
opportunity for growth.”
Global Sources also reported its half-year results for the six months ended
30th June. Revenues in the period were US$93 million, flat compared
with the first half of 2013. Net profit attributable to shareholders dropped by
68% over last year to US$7 million. Diluted earnings per share in the first
half were US$0.2.
This post is excerpted from BSG's weekly e-newsletter
which is part of our subscription research service, BSG Tracker. Visit our website
to find out more about this service. You can also follow us on Twitter
for all the latest updates.
No comments:
Post a Comment