環(huán)球資源公布2015年第一季度業(yè)績報告

GLOBAL SOURCES LTD. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(In U.S. Dollars Thousands, Except Number of Shares and Per Share Data)

As at March 31,

As at December 31,

2015

2014

(Unaudited)

ASSETS

Current assets

Cash and cash equivalents

$

92,802

$

90,223

Term deposits with banks

6,676

4,285

Financial assets, available-for-sale

4,155

3,952

Accounts receivables, net

1,868

2,269

Receivables from sales representatives

13,568

7,900

Inventories

180

154

Prepaid expenses and other current assets

25,597

17,027

144,846

125,810

Non-current assets

Property and equipment

62,316

63,519

Investment properties

85,091

85,546

Intangible assets

36,750

37,732

Long term investment

100

100

Deferred income tax assets

253

196

Other non-current assets

1,611

1,108

186,121

188,201

Total assets

$

330,967

$

314,011

LIABILITIES AND SHAREHOLDERS' EQUITY

Current liabilities

Accounts payable

$

9,373

$

9,418

Deferred income and customer prepayments

108,713

84,869

Accrued liabilities

16,262

19,100

Income tax liabilities

784

3,848

135,132

117,235

Non-current liabilities

Accounts payable

290

889

Deferred income and customer prepayments

6,116

3,971

Deferred income tax liabilities

6,583

6,842

12,989

11,702

Total liabilities

148,121

128,937

Equity attributable to Company's shareholders

Common shares

532

529

Treasury shares

(200,089)

(200,089)

Other reserves

161,676

161,242

Retained earnings

207,797

209,924

Total Company shareholders' equity

169,916

171,606

Non-controlling interests

12,930

13,468

Total equity

$

182,846

$

185,074

Total liabilities and equity

$

330,967

$

314,011

GLOBAL SOURCES LTD. AND SUBSIDIARIES

CONSOLIDATED INCOME STATEMENTS

(In U.S. Dollars Thousands, Except Number of Shares and Per Share Data)

Three months ended March 31,

2015

2014

(Unaudited)

(Unaudited)

Revenue

  Online and other media services (Note 1)

$

20,054

$

23,842

  Exhibitions

260

8,860

  Miscellaneous

1,889

1,768

22,203

34,470

Operating Expenses:

  Sales (Note 2)

6,456

9,046

  Event production

98

1,804

  Community and content (Note 2)

4,562

5,443

  General and administrative (Note 2 & 3)

11,002

14,128

  Information and technology (Note 2)

3,297

3,191

Total Operating Expenses

25,415

33,612

Profit / (loss) from Operations

(3,212)

858

  Interest income

312

417

  Gain on sale of available-for-sale securities

188

10

  Interest expenses

(47)

Profit / (loss) before income taxes

(2,758)

1,238

Income tax credit / (expense)

171

(355)

Net profit / (loss)

$

(2,587)

$

883

Net (profit) / loss attributable to non-controlling interests

460

(738)

Net profit / (loss) attributable to the Company's shareholders

$

(2,127)

$

145

Diluted net profit / (loss) per share attributable to the
  Company's shareholders

$

(0.07)

*

Shares used in diluted net profit / (loss) per share
  calculations

31,361,130

36,174,507

* Basic and diluted net profit per share attributable to the Company's shareholders is less than $0.01

Note: 1. Online and other media services consists of:

Three months ended March 31,

2015

2014

(Unaudited)

(Unaudited)

   Online services

$

17,917

$

21,252

   Print services

2,137

2,590

$

20,054

$

23,842

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 March 31,

2015

2014

(Unaudited)

(Unaudited)

   Sales

$

37

$

7

   Community and content

10

(59)

   General and administrative

364

183

   Information and technology

77

70

$

488

$

201

Note: 3. General and administrative expenses consist of:

Three months ended March 31,

2015

2014

(Unaudited)

(Unaudited)

   General and administrative expenses before amortization of
      intangible assets and foreign exchange losses

$

9,412

$

9,026

   Amortization of intangible assets

1,273

3,461

   Foreign exchange losses

317

1,641

$

11,002

$

14,128

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 March 31,

2015

2014

IFRS diluted net profit / (loss) per share                        

$

(0.07)

*

IFRS Net Profit / (Loss)

$

(2,127)

$

145

Non-cash stock based compensation expense (Note 1)

488

201

Amortization of intangibles (Note 2)

211

253

Non-IFRS Net Profit / (Loss)

$

(1,428)

$

599

Non-IFRS diluted net profit / (loss) per share

$

(0.05)

$

0.02

Total shares used in non-IFRS diluted net profit / (loss)
  per share calculations

31,361,130

36,174,507

* Basic and diluted net profit per share attributable to the Company's shareholders is less than $0.01

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.

GLOBAL SOURCES LTD. AND SUBSIDIARIES

ADJUSTED EBITDA RECONCILIATION

(In U.S. Dollars Thousands)

Three months ended March 31,

2015

2014

IFRS profit / (loss) from operations

$

(3,212)

$

858

Depreciation and amortization

2,745

4,846

EBITDA

(467)

5,704

Non-cash stock based compensation expense

488

201

Adjusted EBITDA

$

21

$

5,905

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

2015

2014

Revenue

$90.0

to

$92.0

$92.8

IFRS EPS

$0.15

to

$0.19

$0.20

Non-cash stock based compensation expense (Note 1)

$0.03

$0.03

$0.02

Amortization of intangibles (Note 2)

$0.01

$0.01

$0.01

Impairment of goodwill and intangibles                                   

-

-

$0.05

Non-IFRS diluted net income per share

$0.19

to

$0.23

$0.28

31,740,000

31,740,000

35,672,551

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.

傳媒聯(lián)絡(luò)

亞洲地區(qū)    

中國地區(qū)

環(huán)球資源Global Sources    

環(huán)球資源Global Sources

蘇慧雯           

紀(jì)賓賓

電話：(852) 2555 5040   

電話：(86-10) 5927 1582

電子郵件：cso@globalsources.com   

電子郵件：sji@globalsources.com

投資者聯(lián)絡(luò)：

亞洲地區(qū)    

美國

環(huán)球資源Global Sources     

LHA

賴秀琴      

Cathy Mattison

電話：(852) 2555 4747

電話：(1-415) 433 3777

電子郵件：investor@globalsources.com  

電子郵件：cmattison@lhai.com