Courtesy of Benzinga.
Global Sources Ltd. (NASDAQ: GSOL) provided an update on its financial expectations for the first half of 2012.
Global Sources’ executive chairman, Merle A. Hinrichs, commented: “Our customers have become increasingly conservative with their marketing budgets and as such we are now revising our revenue and net income expectations for the first half of 2012. It has become clear that exporters are reacting to the slowdown in exports and the uncertainty in the global economy. In addition to the soft demand from the United States and the European Union, we have also been affected by the political situation in the Middle East, where we now expect significantly less exhibitors for our May shows in Dubai. As such, we anticipate less than expected revenue for the first half of 2012.”
Revised financial expectations for the first half of 2012 under IFRS
– For the first half of 2012 ending June 30, 2012:
* Revenue is expected to be in the range of $104.0 million to $106.0 million, down from the previous estimate of $108.0 million to $110.0 million.
* IFRS EPS is expected to be in the range of $0.31 to $0.34, revised from $0.36 to $0.38.
* Non-IFRS EPS is expected to be in the range of $0.36 to $0.39, revised from $0.41 to $0.43.
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