News this week: Yesterday, NASDAQ-listed Global Sources reported its financial results
for the quarter ended 30th June 2012. Revenues in the second quarter
were US$66.8 million, mostly flat compared to last year’s US$66.5 million. Net
profit attributable to shareholders was US$9.7 million, a drop of 3.6% from
2011’s US$10.1 million.
Global Sources’
exhibitions business expanded with revenues of US$30.5 million, up 4.8% from the
US$29.1 million recorded in Q2 of 2011. Online services generated US$30.0
million in the quarter, compared with US$29.9 million in 2011. Revenues from print
services dropped 28% to US$4.4 million, down from last year’s US$6.1 million.
Global Sources also
released its half-year results for the six months ended 30th June.
Revenues in the period were US$105.7 million, up 1.6% from US$104.1 million in
the first half of 2011. Net profit attributable to shareholders was US$12.8
million, a year-on-year decrease of 5.9% from last year’s US$13.6 million.
Diluted earnings per share in the first half were US$0.36.
Global Sources’ management
forecasts revenues in the second half of the year to be between US$120 million
and US$122 million. This is similar to revenues recorded in the second half of
2011 which were US$121 million.
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