環(huán)球資源公布2012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,

2012

2011

(Unaudited)

ASSETS

Current assets

Cash and cash equivalents

$                  83,218

$                 81,903

Term deposits with banks

2,043

2,764

Financial assets, available-for-sale

7,999

13,250

Accounts receivables

4,279

4,711

Receivables from sales representatives

10,573

6,523

Inventories

363

230

Prepaid expenses and other current assets

27,912

20,895

136,387

130,276

Non-current assets

Property and equipment

55,443

55,761

Investment properties

75,111

75,370

Intangible assets

36,568

11,946

Long term investment

413

100

Deferred income tax assets

330

325

Other non-current assets

3,049

2,552

170,914

146,054

Total assets

$                307,301

$               276,330

LIABILITIES AND SHAREHOLDERS' EQUITY

Current liabilities

Accounts payable

$                  10,771

$                   7,698

Deferred income and customer prepayments

118,104

101,841

Accrued liabilities

14,843

17,723

Income tax liabilities

631

714

144,349

127,976

Non-current liabilities

Deferred income and customer prepayments

11,274

8,290

Deferred income tax liabilities

4,986

1,510

16,260

9,800

Total liabilities

160,609

137,776

Equity attributable to Company's shareholders

Common shares

520

518

Treasury shares

(150,089)

(150,089)

Other reserves

153,332

152,591

Retained earnings

129,758

126,653

Total Company shareholders' equity

133,521

129,673

Non-controlling interests

13,171

8,881

Total equity

$                146,692

$               138,554

Total liabilities and equity

$                307,301

$               276,330

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,

2012

2011

(Unaudited)

(Unaudited)

Revenue

   Online and other media services (Note 1)

$        35,223

$       31,982

   Exhibitions

2,217

4,381

   Miscellaneous

1,477

1,173

38,917

37,536

Operating Expenses:

  Sales (Note 2)

15,034

14,439

  Event production

326

1,052

  Community and content (Note 2)

6,928

7,022

  General and administrative (Note 2)

10,174

8,243

  Information and technology (Note 2)

3,391

3,173

Total Operating Expenses

35,853

33,929

Profit from Operations

3,064

3,607

  Interest income

186

48

  Share of loss of associate

(14)

-

Profit before income taxes

3,236

3,655

Income tax expense

(163)

(55)

Net profit

$          3,073

$         3,600

Net profit attributable to non-controlling interests

32

(64)

Net profit attributable to the Company's shareholders

$          3,105

$         3,536

Diluted net profit per share attributable to the Company's shareholders

$            0.09

$           0.10

Shares used in diluted net profit per share calculations

35,573,189

35,349,989

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

Three months ended March 31,

2012

2011

(Unaudited)

(Unaudited)

   Online services

$            30,877

$          27,239

   Print services                                                                                                

4,346

4,743

$            35,223

$          31,982

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,

2012

2011

(Unaudited)

(Unaudited)

   Sales

$                 62

$               118

   Community and content

(35)

27

   General and administrative

265

146

   Information and technology                                                                         

72

79

$               364

$               370

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,

2012

2011

IFRS EPS

$                      0.09

$                       0.10

IFRS Net Profit

$                     3,105

$                      3,536

Non-cash stock based compensation expense (Note 1)

364

370

Amortization of intangibles (Note 2)

191

190

Non-IFRS Net Profit

$                    3,660

$                     4,096

Non-IFRS diluted net profit per share

$                      0.10

$                       0.12

Total shares used in non-IFRS diluted net profit

 per share calculations

35,573,189

35,349,989

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,

2012

2011

IFRS profit from operations

$                     3,064

$                      3,607

Depreciation and amortization

1,964

1,521

EBITDA

5,028

5,128

Non-cash stock based compensation expense

364

370

Adjusted EBITDA

$                    5,392

$                     5,498

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 June 30,

ended June 30,

2012

2011

Revenue

$104.0

to

$106.0

$104.1

IFRS EPS

$0.31

to

$0.34

$0.38

Non-cash stock based compensation expense (Note 1)

$0.04

$0.04

$0.04

Amortization of intangibles (Note 2)

$0.01

$0.01

$0.01

Non-IFRS diluted net income per share

$0.36

to

$0.39

$0.43

Total shares used in non-IFRS diluted net income

 per share calculations

35,719,220

35,719,220

35,424,395

Notes:

(1) Actual SBC is calculated based on actual share price on date of the awards.