This week, NASDAQ-listed Global Sources released first quarter results for the period ended 31st March 2012. Revenues were US$38.9 million, up 3.7% compared with US$37.5 million recorded in the same quarter last year. Net income attributable to the company’s shareholders in the period was US$3.1 million – a year-on-year decrease of 12% from US$3.5 million last year. Diluted earnings per share in the quarter were US$0.09.
The Hong Kong-based company generated revenues of US$30.9 million from its online business – 79% of total revenues – that is a 13% jump over US$27.2 million recorded last year. Exhibition revenues dropped 49% from US$4.4 million to US$2.2 million this quarter, which accounted for 5.7% of the company’s total revenues. Global Sources’ management stated the decreased in Q1 exhibition revenues resulted from the rescheduling of one trade show from January 2012 to December 2011. Revenues from print businesses slipped 8.4% from US$4.7 million last year to US$4.3 million in the quarter.
Source: Business Strategies Group Hong Kong