Friday, November 14, 2014
News this week: This week, NASDAQ-listed Global Sources released its financial results for the third quarter ended 30th September 2014. The company reported revenues of US$43 million, down 5% compared with the same quarter in 2013. Net income in the quarter was US$1.9 million, a drop of 65% from the third quarter last year.
Close to half of Global Sources’ revenues were generated from online services, amounting to US$20 million or an 8% decrease year-on-year. Exhibition revenues remained flat at US$18 million and accounted for 41% of the company’s total. Declining print revenues dropped 18% to US$2.8 million in the quarter and accounted for 6.6% of total revenues.
Global Sources also announced results for the nine months ended 30th September. The company’s revenues were US$135 million, down 1.6% year-on-year. Net income in the nine-month period dropped 68% to US$9 million. Diluted net income per share was US$0.26.