Key Developments For Global Sources Ltd
Global Sources Ltd (GSOL.O) (Nasdaq)
Global Sources Comments On Q4 2009 Revenue Guidance-Conference Call
Global Sources announced that fourth quarter 2009 revenue is expected to be impacted by the very difficult selling environment that existed between the fourth quarter of 2008 and the third quarter of 2009. According to Reuters Estimates, analysts were expecting the Company to report revenue of $53.35 million for the fourth quarter 2009.
Global Sources Collaborates With Vietnam's Trade Association To Promote Exports Of Home Products
Global Sources announced that it has signed an agreement with the Vietnam Chamber of Commerce and Industry (VCCI) to promote exports of Vietnam-made home products. Through the agreement, VCCI members will gain greater access to Global Sources' community of over 829,000 global buyers. This will be made possible through dedicated, prime booth space at the China Sourcing Fair: Home Products in Hong Kong, an expanded Private Sourcing Event schedule and export marketing training.
Global Sources Comments On Q3 2009 Profit Outlook
Global Sources announced that for the third quarter of 2009, it anticipates revenue and earnings to continue to be impacted by the difficult economic situation, and those results will be compared to a very strong third quarter of 2008. According to Reuters Estimates, analysts were expecting the Company to report revenue of $34 million and net profit of $3.9 million for the third quarter of 2009.
Global Sources Appoints David Gillan as Chief Financial Officer
Global Sources announced that it has appointed David Gillan as Chief Financial Officer, following the retirement of Eddie Heng. Heng will remain on the board as a director.
Global Sources Comments On FY 2009 Outlook-Conference Call
Global Sources announced that for fiscal 2009, it expects a decline in revenue and profitability. Company reported revenues of $207 million and net profit of 27.37 million in fiscal 2008. According to Reuters Estimates, analysts on an average were expecting the Company to report revenue of $181 million and net profit of $18 for fiscal 2009.
