Share this on

Global Sources Names Chairman, CEO; Releases Q2 Growth Numbers

GDA Staff -- Gifts and Dec, 8/18/2011 12:05:07 PM

New York - Business-to-business media and trade facilitation company Global Sources Ltd.'s revenue for the second quarter ended June 30 grew to $66.5 million, an increase of 13 percent compared to the prior year quarter. The growth was "driven by strong growth in our online business," according to Global Sources' executive chairman, Merle A. Hinrichs.

Online revenue was $29.9 million, compared to $22.6 million. Exhibitions revenue also grew slightly, to $29.1 million from $27.4 million. Print revenue dropped to $6.1 million from $7.4 million.

Global Sources' CFO Connie Lai predicted top line growth of 12-14 percent for the second half of the year, but said net income is expected to be impacted by planned investments in IT, content and community development, sales and marketing and trade show expansion.

Hinrichs previously served as CEO, but transitioned into executive chairman on August 18. In the new position he will oversee mergers and acquisitions as well as investor relations. Spenser Au assumed the role of CEO. Au previously served as deputy CEO.

Share this on

Talkback

We would love your feedback!

Online Drives Global Sources' Q1 Growth

May 11, 2011

Global Sources Forecasts 9-10 Percent Growth

Mar 17, 2011

Global Sources Q3 Revenue Rises 29 Percent

Nov 11, 2010

Global Sources Q3 Revenue Grows 19%

Nov 22, 2011

Also by this author

»MORE

Featured Company

FurnitureCore.com

FurnitureCore.com is a dynamic web application aimed at the furniture industry. Retailers and manufacturers alike will find our deep reserve of tools to be exactly what their furniture business needs.www.furniturecore.com... more