Global Sources announce its financial results for 2012. Full year revenue was $231.7 million, as compared to $225.1 million. IFRS net income was $32.2 million, or $0.90 per diluted share, as compared to $29.5 million, or $0.83 per diluted share. Non-IFRS net income was $37.1 million, or $1.04 per diluted share, as compared to $33.7 million, or $0.95 per diluted share, for 2011. Adjusted EBITDA was $47.9 million, as compared to $42.0 million for 2011.
Global Sources’ executive chairman, Merle A. Hinrichs, said: “Our fourth quarter results were in line with our expectations and completed a solid year in a challenging market environment.
“Our focus remains on helping our buyer and supplier customers develop profitable and successful relationships. We help them find potential business partners through our various media and then meet them at our shows around the world. The attendees at our shows are a key business advantage, as we give all of our advertisers access to a highly qualified, influential and exclusive buyer community.
“Looking ahead, we expect market conditions to continue impacting our core business well into 2013. We are committed to maintaining profitability, and we have a very strong balance sheet with a solid cash position and no debt. With strong products and services, and a large and influential customer base, we are well-positioned to rebound as market conditions improve.”
Source: Streetinsider.com
