08.09.2014 - Global Sources reports six month revenue of $92.8 million
Global Sources Ltd. reported financial results for the second quarter ended June 30, 2014. Executive chairman, Merle A. Hinrich, said: "In the second quarter, our export trade shows in Hong Kong performed very well and featured our largest-ever electronics series, including the inaugural Mobile Electronics show. Our fully integrated offering of online marketplaces and trade shows provides a broad multi-channel platform for cross-border B2B trade. We are encouraged by the strength of our exhibition business as we continue to specialise and address the markets we believe offer the greatest opportunity for growth." Financial highlights for the second quarter 2014 compared with 2013 includes a revenue of $58.3 million, (2013: $61.4 million). Out of this, the exhibitions revenue was $32.4 million ($33.3 million). The adjusted EBITDA was $11.8 million ($13.2 million). For the six months ended June 30, 2014 compared with 2013, the revenue was $92.8 million (2013: $92.7 million). The adjusted EBITDA was $17.7 million, as compared with $16.3 million for the six months ended June 30, 2013. For the second half of 2014 ending December 31, 2014 revenue is expected to be in the range of $102.0 million to $104.0 million, as compared with $104.8 million for the second half of 2013. Adjusted EBITDA is expected to be between $13.0 million and $14.2 million, as compared with $24.1 million in the second half of 2013. (ank)
Quelle: Aug 20, 2014 [m+a UFI Newsletter]