NEW YORK, Nov. 13, 2014 /PRNewswire/ -- Global Sources Ltd.
(NASDAQ: GSOL) reported financial results for the third quarter
ended Sept. 30, 2014.
"In the third quarter, our exhibitions business featured a mix
of shows serving the international and mainland China domestic buying communities, including
our inaugural China Sourcing Fairs in Jakarta, Indonesia in August," stated
Merle A. Hinrich, Global Sources'
executive chairman. "Several key events for the mainland
China domestic market were held in
the third quarter, which included: IIC-China; the China
International Optoelectronic Expo (CIOE); the Global
Sourcing Fair: Mobile & Wireless; and the
FashionSZshow in Shenzhen.
"In October, we completed our fall China Sourcing Fairs
for the international export market. Attendance totaled 75,000 and
the events featured more than 7,500 booths. Opening the series was
our Electronics & Components show, focused on
electronics for the home, automotive and office, and our new
Mobile Electronics show, which featured all the latest
personal electronics products: smartphones, tablets, wireless
products, wearables and accessories. This comprehensive offering
for buyers was a tremendous success, with the two shows combined
featuring some 5,200 booths and more than 52,000 buyers from 148
countries, an increase of more than 25 percent in booths and more
than 36 percent in traffic compared to the spring shows. The second
phase encompassed gifts and home products while the third phase was
focused on fashion accessories and apparel. Overall, we are pleased
with the long-term positive trend of our exhibitions business."
Financial highlights -- Third quarter: 2014 compared to
2013
- Revenue was $42.5 million, as
compared to $44.8 million.
- Online revenue was $20.3 million,
as compared to $22.0 million.
- Exhibitions revenue was $17.6
million for both periods.
- Print revenue was $2.8 million,
as compared to $3.4 million.
- IFRS net income was $1.9 million,
or $0.06 per diluted share, as
compared to third quarter 2013 IFRS net income of $5.4 million, or $0.15 per diluted share.
- Non-IFRS net income was $2.6
million, or $0.08 per diluted
share, as compared to $6.1 million,
or $0.17 per diluted share, for the
third quarter of 2013.
- Adjusted EBITDA was $7.4 million,
as compared to $11.0 million for the
third quarter of 2013.
- Total deferred income and customer prepayments were
$106.8 million as at Sept. 30, 2014, as compared to $105.1 million as at Sept.
30, 2013.
Financial highlights -- Nine Months Ended
Sept. 30: 2014 compared to
2013
- Revenue was $135.3 million, as
compared to $137.5 million.
- IFRS net income was $9.0 million,
or $0.26 per diluted share, as
compared to $27.8 million, or
$0.77 per diluted share.
- Non-IFRS net income was $12.6
million, or $0.37 per diluted
share, as compared to $19.3 million,
or $0.54 per diluted share, for the
nine months ended Sept. 30,
2013.
- Adjusted EBITDA was $25.2
million, as compared to $27.4
million for the nine months ended Sept. 30, 2013.
Global Sources' CFO, Connie Lai,
stated: "We are reaffirming our guidance for the second half of
2014. We expect the revenue mix to range between 36% and 37% for
online, 53% and 54% for exhibitions, 5% and 6% for print, and
approximately 3% for miscellaneous. This compares to a second half
2013 revenue mix of approximately 42% for online, 49% for
exhibitions, 6% for print and 3% for miscellaneous."
Financial expectations for the second half of 2014 under
IFRS
- For the second half of 2014 ending Dec.
31, 2014:
- Revenue is expected to be in the range of $102.0 million to $104.0 million, as compared to
$104.8 million for the second half of
2013.
- IFRS EPS is expected to be in the range of $0.13 to $0.17, as compared to $0.29 per diluted share in the second half of
2013. SBC and the amortization of intangibles as it relates to
certain equity compensation plans are estimated to be an expense of
$0.05 per diluted share for the
second half of 2014.
- Non-IFRS EPS is expected to be in the range of $0.18 to $0.22, as compared to $0.47 per diluted share for the same period in
2013.
- Adjusted EBITDA is expected to be between $13.0 million and $14.2 million, as compared to
$24.1 million in the second half of
2013.
Recent Corporate Highlights
- Organized its series of fall shows with more than 7,500 booths
in October at Hong Kong's
AsiaWorld-Expo. Total attendance exceeded 75,000 and included
buyers from more than 148 countries and territories.
- Held the China Sourcing Fair: Electronics
& Components, which featured more than 3,700 booths.
- Held the inaugural Mobile Electronics
Fair, which featured more than 1,500 booths, up 43 percent from
spring, and fully launched its suite of services for the mobile
electronics industry, which also include an online marketplace, a
magazine, alerts and an app.
- The China International Optoelectronic
Expo (CIOE) was held in Shenzhen in September.
- The third annual China Sourcing Fairs
in Sao Paulo, Brazil were held in
August.
- Launched China Sourcing Fairs in
Jakarta, Indonesia in August.
- The 14th
China International Fashion Brand Fair -- Shenzhen (FashionSZshow), the largest and most influential fashion
exhibition in southern China, was
held in Shenzhen in July.
- Private Sourcing Events were held from
August through the end of October for 70 sourcing teams from very
large buying organizations including Auchan, Blade Group, Groupe
Adeo, Kering Global Sourcing, Lojas Renner, Philips, Top Toy, etc.
These events created more than 350 high-quality, one-on-one selling
opportunities for Global Sources suppliers.
Conference call for Global Sources third quarter 2014
earnings
Executive Chairman Merle A.
Hinrich and CFO Connie Lai
are scheduled to conduct a conference call at 8:00 a.m. ET on Nov. 13,
2014 (9:00 p.m. on
Nov. 13, 2014 in Hong Kong) to review these results in more
detail. Investors in the United
States may participate in the call by dialing (888)
819-8018, and non-Hong Kong
international participants may dial (1-913) 312-1412. Investors in
Hong Kong may participate by
dialing (852) 3008-0382. The conference ID is 1137202 and
participants are encouraged to dial 10 minutes prior to the call to
prevent a delay in joining. A live webcast of the conference call
is scheduled to be available on Global Sources' corporate site at
http://www.investor.globalsources.com.
For those who cannot listen to the live broadcast, a webcast
replay of the call is scheduled to be available on the company's
corporate site for 30 days. A telephone replay of the call is also
scheduled to be available through Nov. 20,
2014. To listen to the telephone replay dial (888) 203-1112
or dial (1-719) 457-0820 outside the
United States, and enter pass code 1137202. For those in the
Hong Kong area, the replay dial-in
number is (800) 901-108, and the pass code is 1137202.
About Global Sources
Global Sources is a leading business-to-business media company
and a primary facilitator of trade with Greater China.
The core business facilitates trade between Asia and the world using English-language
media such as online marketplaces (GlobalSources.com), print and
digital magazines, sourcing research reports, private sourcing
events, and trade shows.
More than 1 million international buyers, including 95 of the
world's top 100 retailers, use these services to obtain product and
company information to help them source more profitably from
overseas supply markets. These services also provide suppliers with
integrated marketing solutions to build corporate image, generate
sales leads and win orders from buyers in more than 240 countries
and territories.
Global Sources' other businesses provide Chinese-language media
to companies selling to and within Greater China. These services include online
web sites, print and digital magazines, seminars and trade shows.
In mainland China, Global Sources
has a network of more than 30 office locations and a community of
more than 5 million registered online users and magazine readers of
its Chinese-language media.
Now in its fifth decade, Global Sources has been publicly listed
on the NASDAQ since 2000.
Global Sources' non-IFRS metrics
Management believes non-IFRS metrics are useful measures of
operations and provides IFRS to non-IFRS reconciliation tables at
the end of this press release. Global Sources defines non-IFRS net
income as net income excluding non-cash, SBC expense or credit,
amortization of intangibles as it relates to certain equity
compensation plans, profits or losses on acquisitions and
investments net of transaction costs and related tax expenses,
and/or impairment charges net of related taxes, for all historical
and future references to non-IFRS metrics. Non-IFRS EPS is defined
as non-IFRS net income divided by the weighted average of diluted
common shares outstanding. Adjusted EBITDA is defined as earnings
before interest, taxes, depreciation, amortization, stock-based
compensation, impairment of goodwill and intangible assets, and
profits or losses on acquisitions and investments net of
transaction costs and related tax expenses.
Safe Harbor Statement
This news release contains forward-looking statements within the
meaning of Section 27-A of the Securities Act of 1933, as amended
and Section 21-E of the Securities Exchange Act of 1934, as
amended. The company's actual results could differ materially from
those set forth in the forward-looking statements as a result of
the risks associated with the company's business, changes in
general economic conditions, and changes in the assumptions used in
making such forward-looking statements.
-- Tables Follow --
GLOBAL SOURCES
LTD. AND SUBSIDIARIES
|
CONSOLIDATED
BALANCE SHEETS
|
(In U.S. Dollars
Thousands, Except Number of Shares and Per Share
Data)
|
|
|
|
|
|
|
As at September 30,
|
|
|
As at December 31,
|
|
|
|
2014
|
|
|
2013
|
|
|
|
(Unaudited)
|
|
|
|
ASSETS
|
|
|
|
|
|
|
Current
assets
|
|
|
|
|
|
|
Cash and cash
equivalents
|
|
$
|
87,757
|
|
$
|
137,359
|
Term deposits with
banks
|
|
|
3,954
|
|
|
106
|
Financial assets,
available-for-sale
|
|
|
3,954
|
|
|
6,367
|
Accounts receivables,
net
|
|
|
2,714
|
|
|
3,122
|
Receivables from
sales representatives
|
|
|
13,505
|
|
|
10,630
|
Inventories
|
|
|
214
|
|
|
266
|
Prepaid expenses and
other current assets
|
|
|
24,108
|
|
|
18,544
|
|
|
|
136,206
|
|
|
176,394
|
Non-current
assets
|
|
|
|
|
|
|
Property and
equipment
|
|
|
64,516
|
|
|
49,701
|
Investment
properties
|
|
|
86,924
|
|
|
89,615
|
Intangible
assets
|
|
|
38,396
|
|
|
21,423
|
Long term
investment
|
|
|
100
|
|
|
100
|
Deferred income tax
assets
|
|
|
246
|
|
|
98
|
Other non-current
assets
|
|
|
2,109
|
|
|
1,766
|
|
|
|
192,291
|
|
|
162,703
|
Total
assets
|
|
$
|
328,497
|
|
$
|
339,097
|
|
|
|
|
|
|
|
LIABILITIES AND
SHAREHOLDERS' EQUITY
|
|
|
|
|
|
|
Current
liabilities
|
|
|
|
|
|
|
Accounts
payable
|
|
$
|
10,408
|
|
$
|
8,779
|
Deferred income and
customer prepayments
|
|
|
99,060
|
|
|
84,704
|
Accrued
liabilities
|
|
|
21,150
|
|
|
19,166
|
Income tax
liabilities
|
|
|
4,473
|
|
|
2,635
|
|
|
|
135,091
|
|
|
115,284
|
Non-current
liabilities
|
|
|
|
|
|
|
Accounts
Payable
|
|
|
886
|
|
|
-
|
Deferred income and
customer prepayments
|
|
|
7,709
|
|
|
5,660
|
Deferred income tax
liabilities
|
|
|
6,942
|
|
|
4,591
|
|
|
|
15,537
|
|
|
10,251
|
Total
liabilities
|
|
|
150,628
|
|
|
125,535
|
|
|
|
|
|
|
|
Equity attributable
to Company's shareholders
|
|
|
|
|
|
|
Common
shares
|
|
|
529
|
|
|
525
|
Treasury
shares
|
|
|
(200,089)
|
|
|
(150,089)
|
Other
reserves
|
|
|
162,050
|
|
|
161,950
|
Retained
earnings
|
|
|
200,643
|
|
|
191,594
|
Total Company
shareholders' equity
|
|
|
163,133
|
|
|
203,980
|
Non-controlling
interests
|
|
|
14,736
|
|
|
9,582
|
Total
equity
|
|
$
|
177,869
|
|
$
|
213,562
|
Total liabilities
and equity
|
|
$
|
328,497
|
|
$
|
339,097
|
GLOBAL SOURCES
LTD. AND SUBSIDIARIES
|
CONSOLIDATED
INCOME STATEMENTS
|
(In U.S. Dollars
Thousands, Except Number of Shares and Per Share
Data)
|
|
|
|
Three months ended
September 30,
|
|
Nine months ended
September 30,
|
|
|
|
|
2014
|
|
|
2013
|
|
|
2014
|
|
|
2013
|
|
|
|
|
(Unaudited)
|
|
|
(Unaudited)
|
|
|
(Unaudited)
|
|
|
(Unaudited)
|
|
Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Online and
other media services (Note 1)
|
|
$
|
23,081
|
|
$
|
25,417
|
|
$
|
70,787
|
|
$
|
79,593
|
|
Exhibitions
|
|
|
17,562
|
|
|
17,624
|
|
|
58,834
|
|
|
52,399
|
|
Miscellaneous
|
|
|
1,895
|
|
|
1,726
|
|
|
5,724
|
|
|
5,466
|
|
|
|
|
42,538
|
|
|
44,767
|
|
|
135,345
|
|
|
137,458
|
|
Operating
Expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales
(Note 2)
|
|
|
11,766
|
|
|
11,153
|
|
|
40,056
|
|
|
41,418
|
|
Event
production
|
|
|
4,533
|
|
|
4,431
|
|
|
15,352
|
|
|
15,081
|
|
Community and content (Note 2)
|
|
|
6,645
|
|
|
6,670
|
|
|
19,043
|
|
|
20,402
|
|
General
and administrative (Note 2 & 3)
|
|
|
12,303
|
|
|
10,990
|
|
|
40,256
|
|
|
34,146
|
|
Information and technology (Note 2)
|
|
|
3,226
|
|
|
3,164
|
|
|
9,512
|
|
|
9,639
|
|
Total Operating
Expenses
|
|
|
38,473
|
|
|
36,408
|
|
|
124,219
|
|
|
120,686
|
|
Profit
on sale of property
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
15,410
|
|
Profit from
Operations
|
|
|
4,065
|
|
|
8,359
|
|
|
11,126
|
|
|
32,182
|
|
Interest
income
|
|
|
296
|
|
|
467
|
|
|
1,046
|
|
|
1,088
|
|
Gain on
sale of available-for -sale securities
|
|
|
1
|
|
|
-
|
|
|
11
|
|
|
-
|
|
Interest
expenses
|
|
|
(47)
|
|
|
-
|
|
|
(139)
|
|
|
-
|
|
Profit before
Income Taxes
|
|
|
4,315
|
|
|
8,826
|
|
|
12,044
|
|
|
33,270
|
|
Income tax
expense
|
|
|
(1,077)
|
|
|
(1,657)
|
|
|
(1,843)
|
|
|
(4,326)
|
|
Net
Profit
|
|
$
|
3,238
|
|
$
|
7,169
|
|
$
|
10,201
|
|
$
|
28,944
|
|
Net (profit)/loss
attributable to non-controlling
interests
|
|
|
(1,321)
|
|
|
(1,813)
|
|
|
(1,152)
|
|
|
(1,193)
|
|
Net profit
attributable to the Company's
shareholders
|
|
$
|
1,917
|
|
$
|
5,356
|
|
$
|
9,049
|
|
$
|
27,751
|
|
Diluted net profit
per share attributable to
the Company's shareholders
|
|
$
|
0.06
|
|
$
|
0.15
|
|
$
|
0.26
|
|
$
|
0.77
|
|
Shares used in diluted net profit per share
calculations
|
|
|
31,487,766
|
|
|
36,186,254
|
|
|
34,166,224
|
|
|
36,045,545
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Note: 1. Online and
other media services consists of:
|
|
|
|
Three months ended
September 30,
|
|
Nine months ended
September 30,
|
|
|
|
|
2014
|
|
|
2013
|
|
|
2014
|
|
|
2013
|
|
|
|
|
(Unaudited)
|
|
|
(Unaudited)
|
|
|
(Unaudited)
|
|
|
(Unaudited)
|
|
Online
services
|
|
$
|
20,252
|
|
$
|
22,046
|
|
$
|
62,348
|
|
$
|
69,710
|
|
Print
services
|
|
|
2,829
|
|
|
3,371
|
|
|
8,439
|
|
|
9,883
|
|
|
|
$
|
23,081
|
|
$
|
25,417
|
|
$
|
70,787
|
|
$
|
79,593
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Note: 2. Non-cash
compensation expenses associated with the several equity
compensation plans and Global Sources Directors Share Grant
Award Plan included under various categories of expenses are as
follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended
September 30,
|
|
Nine months ended
September 30,
|
|
|
|
|
2014
|
|
|
2013
|
|
|
2014
|
|
|
2013
|
|
|
|
|
(Unaudited)
|
|
|
(Unaudited)
|
|
|
(Unaudited)
|
|
|
(Unaudited)
|
|
Sales
|
|
$
|
140
|
|
$
|
159
|
|
$
|
286
|
|
$
|
386
|
|
Community and
content
|
|
|
27
|
|
|
28
|
|
|
(5)
|
|
|
12
|
|
General and
administrative
|
|
|
366
|
|
|
368
|
|
|
896
|
|
|
971
|
|
Information and
technology
|
|
|
52
|
|
|
54
|
|
|
172
|
|
|
193
|
|
|
|
$
|
585
|
|
$
|
609
|
|
$
|
1,349
|
|
$
|
1,562
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Note: 3. General and
administrative expenses consist of:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended September 30,
|
|
Nine months ended September 30,
|
|
|
|
|
2014
|
|
|
2013
|
|
|
2014
|
|
|
2013
|
|
|
|
|
(Unaudited)
|
|
|
(Unaudited)
|
|
|
(Unaudited)
|
|
|
(Unaudited)
|
|
General and administrative expenses before amortization of intangible assets, impairment charge on intangible assets and foreign
exchange losses (gains)
|
|
$
|
11,083
|
|
$
|
10,556
|
|
$
|
30,350
|
|
$
|
30,146
|
|
Amortization of
intangible assets
|
|
|
1,376
|
|
|
627
|
|
|
6,347
|
|
|
2,097
|
|
Impairment charge on
intangible assets
|
|
|
-
|
|
|
-
|
|
|
2,238
|
|
|
2,531
|
|
Foreign exchange losses
(gains)
|
|
|
(156)
|
|
|
(193)
|
|
|
1,321
|
|
|
(628)
|
|
|
|
$
|
12,303
|
|
$
|
10,990
|
|
$
|
40,256
|
|
$
|
34,146
|
|
GLOBAL SOURCES
LTD. AND SUBSIDIARIES
|
ACTUAL IFRS to
NON-IFRS RECONCILIATION
|
(In U.S. Dollars
Thousands, Except Number of Shares and Per Share
Data)
|
|
|
|
|
Three months ended September 30,
|
|
Nine months ended September 30,
|
|
|
|
|
|
2014
|
|
|
2013
|
|
|
2014
|
|
|
2013
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IFRS
EPS
|
|
$
|
0.06
|
|
$
|
0.15
|
|
$
|
0.26
|
|
$
|
0.77
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IFRS Net
Profit
|
|
$
|
1,917
|
|
$
|
5,356
|
|
$
|
9,049
|
|
$
|
27,751
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-cash stock based
compensation expense (Note 1)
|
|
|
585
|
|
|
609
|
|
|
1,349
|
|
|
1,562
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortization of
intangibles (Note 2)
|
|
|
104
|
|
|
167
|
|
|
508
|
|
|
594
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Impairment of
goodwill and intangibles (Note 3)
|
|
|
-
|
|
|
-
|
|
|
1,678
|
|
|
2,531
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit on sale of property, net of transaction costs & related tax expenses
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
(13,124)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-IFRS Net
Profit
|
|
$
|
2,606
|
|
$
|
6,132
|
|
$
|
12,584
|
|
$
|
19,314
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-IFRS diluted
net profit per share
|
|
$
|
0.08
|
|
$
|
0.17
|
|
$
|
0.37
|
|
$
|
0.54
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total shares used in
non-IFRS diluted net profit
|
|
|
|
|
|
|
|
|
|
|
|
|
|
per share
calculations
|
|
|
31,487,766
|
|
|
36,186,254
|
|
|
34,166,224
|
|
|
36,045,545
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Notes:
|
|
(1) Actual SBC is
calculated based on actual share price on date of the
awards.
|
|
(2) Amortization of
intangible assets relating to certain non-compete
agreements.
|
|
(3) Impairment of
intangibles are net of related taxes.
|
|
GLOBAL SOURCES
LTD. AND SUBSIDIARIES
|
ADJUSTED EBITDA
RECONCILIATION
|
(In U.S. Dollars
Thousands)
|
|
|
|
|
Three months ended September 30,
|
|
Nine months ended September 30,
|
|
|
|
2014
|
|
2013
|
|
2014
|
|
2013
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IFRS profit from
operations
|
|
$
|
4,065
|
|
$
|
8,359
|
|
$
|
11,126
|
|
$
|
32,182
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and
amortization
|
|
|
2,782
|
|
|
2,038
|
|
|
10,447
|
|
|
6,487
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EBITDA
|
|
|
6,847
|
|
|
10,397
|
|
|
21,573
|
|
|
38,669
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-cash stock based
compensation expense
|
|
|
585
|
|
|
609
|
|
|
1,349
|
|
|
1,562
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Impairment of
goodwill and intangibles
|
|
|
-
|
|
|
-
|
|
|
2,238
|
|
|
2,531
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit on sale of property, net of transaction costs
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
(15,410)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted
EBITDA
|
|
$
|
7,432
|
|
$
|
11,006
|
|
$
|
25,160
|
|
$
|
27,352
|
GLOBAL SOURCES
LTD. AND SUBSIDIARIES
|
GUIDANCE IFRS to
NON-IFRS RECONCILIATION
|
(In U.S. Dollars
Million, Except Number of Shares and Per Share Data)
|
|
|
|
GUIDANCE
|
|
ACTUAL
|
|
|
Six
months
|
|
Six
months
|
|
|
ended December 31,
|
|
ended December 31,
|
|
|
2014
|
|
2013
|
|
|
|
|
|
|
|
Revenue
|
|
$102.0
|
to
|
$104.0
|
|
$104.8
|
|
|
|
|
|
|
|
IFRS EPS
|
|
$0.13
|
to
|
$0.17
|
|
$0.29
|
|
|
|
|
|
|
|
Non-cash stock based
compensation expense (Note 1)
|
|
$0.04
|
|
$0.04
|
|
$0.03
|
|
|
|
|
|
|
|
Amortization of
intangibles (Note 2)
|
|
$0.01
|
|
$0.01
|
|
$0.01
|
|
|
|
|
|
|
|
Impairment of
goodwill and intangibles
|
|
-
|
|
-
|
|
$0.14
|
|
|
|
|
|
|
|
Non-IFRS diluted
net income per share
|
|
$0.18
|
to
|
$0.22
|
|
$0.47
|
|
|
|
|
|
|
|
Total shares used in
non-IFRS diluted net income
|
|
|
|
|
|
|
per share
calculations
|
|
31,600,000
|
|
31,600,000
|
|
36,181,032
|
|
Notes:
|
(1) Actual SBC is
calculated based on actual share price on date of the
awards.
|
(2) Amortization of
intangible assets relating to certain non-compete
agreements.
|
For financial matrix, please visit:
http://photos.prnasia.com/prnk/20141112/8521406752
Press Contact in
Asia
|
Investor Contact
in Asia
|
Camellia
So
|
Connie Lai
|
Tel: (852)
2555-5021
|
Tel: (852)
2555-4747
|
e-mail:
cso@globalsources.com
|
e-mail:
investor@globalsources.com
|
|
|
Press Contact in
U.S.
|
Investor Contact
in U.S.
|
Brendon
Ouimette
|
Cathy
Mattison
|
Tel: (1-480)
664-8309
|
LHA
|
e-mail:
bouimette@globalsources.com
|
Tel: (1-415)
433-3777
|
|
e-mail:
cmattison@lhai.com
|
|
|
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SOURCE Global Sources