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Global Sources reports strong Q2

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New York—Global Sources Ltd., a provider of product and trade information for volume buyers, reported Thursday that its revenue totaled $29.0 million in the second quarter, a 35% increase over the second quarter of 2003. The increase was due in part to the company’s China Sourcing Fairs, Global Sources’ “first-ever spring fairs,” according to CFO Eddie Heng. Net income increased 278% to $5.1 million in the second quarter. The company said revenue from China grew 63% to $14.6 million and accounted for more than 50% of Global Sources’ total revenue. For 2004, the company reaffirmed its guidance of total revenue between $106 million and $109 million and earnings per share between $0.34 and $0.38.
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