NASDAQ-listed Global Sources has reported results for the quarter ended 30th June 2010. The Hong Kong-based multi-platform B2B media company posted revenues of US$58.4 million in the second quarter compared with US$54.2 in the same period last year. Online revenues were mostly flat – US$22.4 million versus US$22.1 million in 2009. Exhibitions generated revenues of US$27.4 million against US$24 million a year ago. GAAP net income was US$7.3 million this quarter – a 43% rise over the US$5.1 million recorded in 2009.
First half revenues were US$92.4 million, a modest increase over the US$89 million in the first half of 2009 and first half net income jumped from US$6.3 million to US$9.8 million. The company expects revenue growth of 13% to 15% in the second half of 2010, as compared to the second half of 2009. Courtesy of BSG Hong Kong www.bsgasia.com