Wednesday, March 12, 2008

"That's better" for GSOL

The market obviously liked the cut of Mr. Hinrich's jib following yesterday's Global Sources' analyst conference call. The company's share price shot up a remarkable 34.2% following the announcement of Q4 figures and the full year 2007 results as well as reasonably solid projections for the first half of this year.

CFO Eddie Heng told analysts "For the six month period ended June 30, 2008, we anticipate the following; revenue is expected to be in the range of $101 to $102.5 million representing growth of between 16% and 17% as compared to the same period in 2007". Hinrichs, in response to a question on global economic slowdown, said "We have had zero cancellations and we certainly have not have deferments based upon market conditions". He did concede, however, that "there is a great deal of uncertainty as to future demand and where that may come from".

Look out for news on our corporate blog for a new BSG report on Global Sources which is due to be published today.

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