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Global Sources reports revenue increase

Published on .

New York--Hong Kong-based Global Sources Ltd., a trade publisher and online marketplace operator, reported earlier this week that its net income totaled $1.6 million in the second quarter of 2003, a 60% increase over the second quarter of 2002. Additionally, cash flow from operations reached $7.4 million in the quarter, an increase of 20% over the same period in 2002. Total revenues for the quarter were $21.4 million, up slightly from $21.2 million for the second quarter of 2002. “We resumed revenue growth due to continued expansion in China, which now represents 42% of our total sales. This improvement in revenues, coupled with a reduced cost structure, has led to a significant increase in our profitability,” said Merle Hinrichs, chairman-CEO, in a statement.
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