News this week: This week NASDAQ-listed Global Sources released its results for the quarter ended 31st March 2011. Revenues were US$37.5 million, up 5.6% compared with the US$35.5 million recorded in the same quarter in 2010. Net income in the period was US$3.5 million – a year-on-year decrease of 4.3% from US$3.7 million in 2010. Diluted earnings per share in the quarter were US$0.10.
The Hong Kong-based company generated revenues of US$27.2 million from its online business – 73% of total revenues – that is a 17% jump over the US$23.2 million recorded last year. Its exhibition revenues dropped 2.8% from US$4.5 million to US$4.4 million this quarter and exhibitions accounted for 12% of the company’s revenues. Revenues from Global Sources’ print business continued to slip - down 29% from US$6.7 million last year to US$4.7 million.
Global Sources’ management maintained its revenue guidance of between US$102.5 million and US$103.5 million in the first half of 2011. Revenues in the first half of 2010 were US$94.2 million.
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