Global Sources 2012 Revenues Up 3%, Net Profits Up 9.3%

March 25, 2013

NASDAQ-listed Global Sources released its year-end 2012 results. Revenues in the year were US$232 million, up 3.0% over the previous year. Net profits in 2012 were US$32 million, a year-on-year increase of 9.3%. Diluted earnings per share in 2012 were US$0.90.

More than half of Global Sources’ revenues were generated from its online services (US$119 million) – roughly flat compared with 2011. Exhibitions revenues in the year were up 14% reaching US$89 million. That figure represents 38% of total revenues. Print services (US$17 million) continue to shrink accounting for just 7.4% of total revenues – a 27% year-on-year decrease.

Global Sources also provided guidance for the first half of 2013. The company’s management is forecasting a weaker first half with revenues of between US$87 million and US$89 million. This represents a decrease of 16%-18% compared to the first half of 2012.

Separately, Global Sources also announced it has signed agreements related to three real estate transactions. The company will sell the 46th Floor of Excellence Times Square in Shenzhen for approximately US$19.3 million as well as office units and car parking spaces in the Southmark Building in Hong Kong for approximately US$9.0 million. Finally, the company will also spend US$23.6 million to purchase the 21st, 22nd and 23rd Floors of Vita Tower in Hong Kong, which currentlyhouse the operational officesof Global Sources.

Add new comment

Partner Voices
MGM Resorts is committed to fostering an inclusive and diverse culture, not just among employees and guests but also within its supply chain. The company prioritizes procuring goods and services from businesses owned by minorities, women, veterans, people with disabilities, LGBTQ individuals and those facing economic disadvantages. This commitment is integral to MGM Resorts' global procurement strategy.    Through its voluntary supplier diversity program, MGM Resorts actively identifies and connects certified diverse-owned suppliers to opportunities within its supply chain. The company is on track to spend at least 15% of its biddable procurement with diverse-owned businesses by 2025, demonstrating that supplier diversity is not only a social responsibility but also a strategic business imperative.    Supplier diversity isn’t just the right thing to do – it’s good for business. A diverse supply chain allows access to a broader range of perspectives and experience, helping to drive innovation, entrepreneurship and resilience, while strengthening communities. At MGM Resorts, engaging diverse suppliers ensures best-in-class experiences for guests and clients. Supplier diversity ensures a more resilient supply chain while supporting economic development in the communities in which it operates.   The impact of MGM Resorts' supplier diversity initiatives is significant. In 2023, these efforts supported over 3,500 jobs across more than 30 states, contributed over $214 million in income for diverse-owned businesses and generated more than $62 million in tax revenue. The story extends beyond the numbers – it reflects the tangible benefits brought to small and diverse-owned businesses, fostering economic empowerment in their communities.    MGM Resorts also supports the development and business skills of diverse-owned businesses through investment, mentorship and education. Through the MGM Resorts Supplier Diversity Mentorship Program, the company identifies, mentors and develops diverse-owned businesses to fill its future pipeline, while providing businesses with tools and resources to empower and uplift. Since 2017, the program has successfully graduated 105 diverse-owned businesses and is on track to achieve its goal of 150 graduates by 2025.     MGM Resorts’ commitment to supplier diversity not only enhances its business operations but also plays a crucial role in uplifting communities and fostering economic development. This approach reinforces the idea that diversity is a powerful driver of innovation and resilience, benefiting both the company and the wider community.