Global Sources Reports Strong Results in Q3
November 21, 2011
NASDAQ-listed Global Sources released its third quarter results ended Sept. 30 this week. The company reported revenues were US$47 million, an increase of 19 percent, compared with the same quarter in 2010. Net profit attributable to shareholders was US$3.96 million in the quarter, an impressive growth of 90 percent, compared with the third quarter of 2010.
Online revenues of US$30 million were recorded this quarter, an increase of 22 percent, while exhibitions revenues jumped 17 percent to US$9 million. Print revenue grew 9.1 percent to US$6.3 million in the quarter. Revenues from mainland China were US$37.5 million, up 22 percent, compared with the US$30.7 million recorded last year.
For the nine months ended Sept. 30, the company’s revenues were US$151 million, a year-on-year increase of 13 percent. Net profit attributable to shareholders in the period was US$18 million, a growth of 26 percent, compared with last year. The diluted net income per share was US$0.50 in the first nine months of 2011.
Global Sources’ executive chairman, Merle A. Hinrichs, said, “Over the past few years, we have led the market by taking exhibitors to key sourcing hubs in Africa, India, the Middle East and Latin America. In the third quarter, we launched a very successful show in Miami focused on the Latin American market. Most recently, we have announced plans to launch China Sourcing Fairs in Brazil during 2012. As a result of all of these initiatives, we have expanded the quality and quantity of our buyer communities in those regions to the benefit of all of our advertisers and exhibitors.”
Global Sources also issued guidance for the second half of 2011 forecasting revenues between US$115 million and US$117 million, which would be a 12 percent-14 percent increase, compared with the revenues of the second half of 2010 (US$102.5 million).
Partner Voices
Overview:
The award-winning Orange County Convention Center (OCCC) goes the extra mile to make every day extraordinary by offering customer service excellence and industry-leading partnerships. From their dedicated in-house Rigging team to their robust Exhibitor Services, The Center of Hospitality brings your imagination to life by helping you host unforgettable meetings and events. With more than 2 million square feet of exhibit space, world-class services and a dream destination, we are committed to making even the most ambitious conventions a reality.
In October 2023, the Orange County Board of County Commissioners voted to approve allocating Tourist Development Tax funding for the $560 million Phase 5A completion of the OCCC. The Convention Way Grand Concourse project will include enhancements to the North-South Building, featuring an additional 60,000 square feet of meeting space, an 80,000- square-foot ballroom and new entry to the North-South Building along Convention Way.
“We are thrilled to begin work on completing our North-South Building which will allow us to meet the growing needs of our clients,” said OCCC Executive Director Mark Tester. “As an economic driver for the community, this project will provide the Center with connectivity and meeting space to host more events and continue to infuse the local economy with new money and expanding business opportunities.”
Amenities:
The Center of Hospitality goes above and beyond by offering world-class customer service and industry-leading partnerships. From the largest convention center Wi-Fi network to custom LAN/WAN design, the Center takes pride in enhancing exhibitor and customer experience.
The OCCC is the exclusive provider of electricity (24-hour power at no additional cost), aerial rigging and lighting, water, natural gas and propane, compressed air, and cable TV services. Convenience
The Center is at the epicenter of the destination, with an abundance of hotels, restaurants, and attractions within walking distance. Pedestrian bridges connect both buildings to more than 5,200 rooms and is within a 15-minute drive from the Orlando International Airport. The convenience of the location goes hand-in-hand with top notch service to help meet an event’s every need.
Gold Key Members
The OCCC’s Gold Key Members represent the best of the best when it comes to exceptional service and exclusive benefits for clients, exhibitors and guests. The Center’s Gold Key memberships with Universal Orlando Resort, SeaWorld Orlando and Walt Disney World greatly enhance meeting planner and attendee experiences offering world-renowned venues, immersive experiences and creative resources for their events.
OCCC Events:
This fiscal year, the OCCC is projected to host 168 events, 1.7 million attendees, and $2.9 billion in economic impact.
The Center’s top five events during their 2022-2023 fiscal year included:
AAU Jr. National Volleyball Championships 2023
200,000 Attendees
$257 Million in Economic Impact
MEGACON 2023
160,000 Attendees
$205 Million in Economic Impact
Open Championship Series 2023
69,500 Attendees
$89 Million in Economic Impact
Sunshine Classic 2023
42,000 Attendees
$54 Million in Economic Impact
Premiere Orlando 2023
42,000 Attendees
$108 Million in Economic Impact
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