 |
紐約2015年11月30日電 /美通社/ -- 環球資源Global Sources Ltd. (NASDAQ: GSOL) 公布截至2015年9月30日的第三季度業績報告。
環球資源執行董事長韓禮士 (Merle A. Hinrich) 先生表示：“環球資源2015年第三季的凈營業收入顯示出我們致力發展公司的核心商對商跨境貿易業務以及在香港舉辦的貿易展覽會之決心。為支持此發展方向，公司已于第二季完成 eMedia 股權的出售，同時也停止舉辦數個于2014年第三季舉行的海外貿易展覽會。我們的策略是專注于發展那些可以為公司提供較大增長機會的市場及產品。”
韓先生續說：“在十月份，我們在香港舉辦了‘環球資源電子展’，作為目前全球規模較大的電子產品采購盛會，展會分兩期舉行，逾5,800個展位展示了市場最熱銷的電子產品，并在展位銷售及參觀買家人數方面均取得穩健的雙增長。中國是全球較大的電子生產基地，因此，公司對未來的增長機會感到十分興奮。就整體業務而言，環球資源將繼續為公司的買家及供應商社群發展并不斷完善涵蓋展覽會及網站的獨特整合服務。”
業績要覽：2015年第三季與2014年第三季之年度比較分析
環球資源首席財務官賴秀琴女士表示：“為貫徹公司把業務重點投放于香港展覽會的策略，我們于2015年第三季并沒有在海外市場舉辦任何出口貿易展，此舉令公司第三季的營收受到負面影響。環球資源繼續維持一個高效的成本架構，公司的財務狀況依然保持穩健，并且沒有任何短期或長期的債務。”
業績要覽：截至2015年9月30日的九個月與2014年同期之年度比較分析
依據“國際財務報告準則”計算已修訂的2015年下半年財務展望
賴女士指出：“縱使公司的展覽會業務表現強勁，但由于網站業務的表現較遜預期，因此我們把2015年下半年的財務展望下調。”
近期企業要覽
環球資源2015年第三季度業績投資者電話會議
環球資源執行董事長韓禮士先生及首席財務官賴秀琴女士將于美國東部時間2015年11月30日上午8時 (香港時間2015年11月30日晚上9時) 主持投資者電話會議，旨在回顧公司2015年第三季度的業績。美國投資者如欲參與本次電話會議，請撥打 (888) 277-7112；香港以外的國際投資者可撥打 (1-913) 312-1442。香港投資者則可撥打本地電話號碼 (852) 3008-0382，并向接線生提供本次電話會議的編號9894503，同時請提早10分鐘撥打上述電話號碼，以確保在會議開始時所有參與者均已聯機。有關的電話會議也將于環球資源企業網站作網上現場直播，詳情請瀏覽 http://www.investor.globalsources.com。
本次電話會議的網上廣播將于環球資源企業網站轉載至少30天，以供未能參與本次電話會議者收聽。有興趣人士也可由電話會議進行當日至 2015年12月7日期間收聽本次電話會議之回放。如欲收聽有關電話會議回放，請撥打 (888) 203-1112，或美國以外地區請撥打 (1-719) 457-0820，并輸入密碼9894503。香港投資者則可撥打本地電話號碼 (800) 901-108，并輸入密碼9894503。
環球資源
環球資源是一家領先業界的多渠道B2B媒體公司，致力于促進大中華地區的對外貿易。
公司的核心業務是通過一系列英文媒體，包括環球資源網站 (GlobalSources.com)、雜志、手機應用程序、“買家專場采購會”及貿易展覽會，促進亞洲與全球各國的貿易往來。
超過100萬名國際買家、當中包括95家來自全球百強零售商，使用環球資源提供的服務了解供應商及產品的資料，幫助他們在復雜的供應市場進行高效采購。另一方面，供應商借助環球資源提供的整合出口推廣服務，提升公司形象、獲得銷售查詢，贏得來自逾240個國家及地區的買家訂單。
環球資源于2000年在美國納斯達克股票市場公開上市，如今已經成功邁向第5個十年。
環球資源未按“國際財務報告準則”計算方法
環球資源管理層認為未按“國際財務報告準則”(Non-IFRS) 計算方法是有效反映營運狀況的計算方法，因此于本新聞稿末部提供按“國際財務報告準則”(IFRS) 計算及未按“國際財務報告準則”計算的對帳表。
環球資源將過往及將來未按“國際財務報告準則”計算的凈收入 (non-IFRS net income) 定義為：按“國際財務報告準則”計算的凈收入扣除非現金股票費用、與公司數個股權補償計劃相關的無形資產攤銷費用、公司任何購并、投資及出售資產所得的收益或虧損、及其相關的交易及稅務費用，及 /或公司所有扣除相關稅務費用的減值支出。而未按“國際財務報告準則”計算的每股盈利 (Non-IFRS EPS) 的定義為：未按“國際財務報告準則”計算的凈收入除以已發行普通股的攤薄加權平均股數。經調整 EBITDA則是指扣除利息、稅項、折舊、攤銷、股票補償費用、商譽及無形資產減值、任何購并、投資及出售資產所得的收益或虧損、及其相關的交易及稅務費用前的盈利。
前瞻性陳述
本新聞稿中的前瞻性聲明是根據經修訂的證券法 (1933年) 第27-A條及經修訂的證券交易所法 (1934年) 第21-E條而作出的。由于公司業務、宏觀經濟情況及作出上述聲明的假設或會發生變化，可能使公司實際業績與此前瞻性聲明有所出入。
(財務報告詳見附頁)
| GLOBAL SOURCES LTD. AND SUBSIDIARIES |
||||||
| CONSOLIDATED BALANCE SHEETS |
||||||
| (In U.S. Dollars Thousands, Except Number of Shares and Per Share Data) |
||||||
| As at September 30, |
As at December 31, |
|||||
| 2015 |
2014 |
|||||
| (Unaudited) |
||||||
| ASSETS |
||||||
| Current assets |
||||||
| Cash and cash equivalents |
$ |
53,800 |
$ |
90,223 |
||
| Term deposits with banks |
7,634 |
4,285 |
||||
| Financial assets, available-for-sale |
4,092 |
3,952 |
||||
| Accounts receivables, net |
939 |
2,269 |
||||
| Receivables from sales representatives |
9,667 |
7,900 |
||||
| Inventories |
149 |
154 |
||||
| Prepaid expenses and other current assets |
24,414 |
17,027 |
||||
| Assets classified as held for sale |
10,821 |
- |
||||
| 111,516 |
125,810 |
|||||
| Non-current assets |
||||||
| Property and equipment |
59,996 |
63,519 |
||||
| Investment properties |
71,402 |
85,546 |
||||
| Intangible assets |
28,729 |
37,732 |
||||
| Long term investment |
100 |
100 |
||||
| Deferred income tax assets |
289 |
196 |
||||
| Other non-current assets |
2,511 |
1,108 |
||||
| 163,027 |
188,201 |
|||||
| Total assets |
$ |
274,543 |
$ |
314,011 |
||
| LIABILITIES AND SHAREHOLDERS' EQUITY |
||||||
| Current liabilities |
||||||
| Accounts payable |
$ |
11,161 |
$ |
9,418 |
||
| Deferred income and customer prepayments |
95,843 |
84,869 |
||||
| Accrued liabilities |
15,393 |
19,100 |
||||
| Income tax liabilities |
3,377 |
3,848 |
||||
| 125,774 |
117,235 |
|||||
| Non-current liabilities |
||||||
| Accounts payable |
291 |
889 |
||||
| Deferred income and customer prepayments |
6,629 |
3,971 |
||||
| Deferred income tax liabilities |
5,069 |
6,842 |
||||
| 11,989 |
11,702 |
|||||
| Total liabilities |
137,763 |
128,937 |
||||
| Equity attributable to Company's shareholders |
||||||
| Common shares |
533 |
529 |
||||
| Treasury shares |
(250,089) |
(200,089) |
||||
| Other reserves |
160,090 |
161,242 |
||||
| Retained earnings |
219,795 |
209,924 |
||||
| Total Company shareholders' equity |
130,329 |
171,606 |
||||
| Non-controlling interests |
6,451 |
13,468 |
||||
| Total equity |
$ |
136,780 |
$ |
185,074 |
||
| Total liabilities and equity |
$ |
274,543 |
$ |
314,011 |
||
| GLOBAL SOURCES LTD. AND SUBSIDIARIES |
||||||||||||
| CONSOLIDATED INCOME STATEMENTS |
||||||||||||
| (In U.S. Dollars Thousands, Except Number of Shares and Per Share Data) |
||||||||||||
| Three months ended September 30, |
Nine months ended September 30, |
|||||||||||
| 2015 |
2014 |
2015 |
2014 |
|||||||||
| (Unaudited) |
(Unaudited) |
(Unaudited) |
(Unaudited) |
|||||||||
| Revenue: |
||||||||||||
| Online and other media services (Note 2) |
$ |
17,217 |
$ |
20,311 |
$ |
52,947 |
$ |
62,692 |
||||
| Exhibitions |
4,054 |
9,512 |
50,225 |
50,784 |
||||||||
| Miscellaneous |
2,221 |
1,888 |
6,236 |
5,701 |
||||||||
| 23,492 |
31,711 |
109,408 |
119,177 |
|||||||||
| Operating Expenses: |
||||||||||||
| Sales (Note 3) |
7,640 |
9,683 |
32,333 |
36,189 |
||||||||
| Event production |
1,438 |
2,840 |
13,662 |
13,582 |
||||||||
| Community and content (Note 3) |
4,453 |
5,179 |
14,656 |
15,514 |
||||||||
| General and administrative (Note 3 & 4) |
11,320 |
10,397 |
32,072 |
36,401 |
||||||||
| Information and technology (Note 3) |
3,401 |
3,039 |
9,853 |
9,051 |
||||||||
| Total Operating Expenses |
28,252 |
31,138 |
102,576 |
110,737 |
||||||||
| Profit/(loss) from Operations |
(4,760) |
573 |
6,832 |
8,440 |
||||||||
| Interest income |
123 |
272 |
689 |
979 |
||||||||
| Gain on sale of available-for-sale securities |
13 |
1 |
149 |
11 |
||||||||
| Interest expenses |
(12) |
(47) |
(71) |
(139) |
||||||||
| Profit/(loss) before Income Taxes |
(4,636) |
799 |
7,599 |
9,291 |
||||||||
| Income tax expense |
(234) |
(282) |
(2,422) |
(1,112) |
||||||||
| Net Profit/(loss) from continuing operations |
$ |
(4,870) |
$ |
517 |
$ |
5,177 |
$ |
8,179 |
||||
| Net Profit/(loss) from discontinued operations, net of income tax (Note 5) |
223 |
2,721 |
5,629 |
2,022 |
||||||||
| Net profit/(loss) |
$ |
(4,647) |
$ |
3,238 |
$ |
10,806 |
$ |
10,201 |
||||
| Net (profit)/loss attributable to non-controlling interests |
||||||||||||
| Continuing operations |
23 |
291 |
(1,199) |
49 |
||||||||
| Discontinued operations |
- |
(1,612) |
264 |
(1,201) |
||||||||
| Total |
23 |
(1,321) |
(935) |
(1,152) |
||||||||
| Net profit/(loss) attributable to the Company's |
||||||||||||
| Continuing operations |
$ |
(4,847) |
$ |
808 |
$ |
3,978 |
$ |
8,228 |
||||
| Discontinued operations |
223 |
1,109 |
5,893 |
821 |
||||||||
| Total |
$ |
(4,624) |
$ |
1,917 |
$ |
9,871 |
$ |
9,049 |
||||
| Diluted net profit/(loss) per share attributable to the |
||||||||||||
| Continuing operations |
$ |
(0.18) |
$ |
0.02 |
$ |
0.13 |
$ |
0.24 |
||||
| Discontinued operations |
0.01 |
0.04 |
0.20 |
0.02 |
||||||||
| Total |
$ |
(0.17) |
$ |
0.06 |
$ |
0.33 |
$ |
0.26 |
||||
| Shares used in diluted net profit/(loss) per share |
27,359,011 |
31,487,766 |
30,088,869 |
34,166,224 |
||||||||
| Note: 1. Total revenue from both the continuing operations and discontinued operations during the three months and nine months ended September 30, 2015 and 2014 was as follows: |
||||||||||||
| Three months ended September 30, |
Nine months ended September 30, |
|||||||||||
| 2015 |
2014 |
2015 |
2014 |
|||||||||
| (Unaudited) |
(Unaudited) |
(Unaudited) |
(Unaudited) |
|||||||||
| Continuing operations |
$ |
23,492 |
$ |
31,711 |
$ |
109,408 |
$ |
119,177 |
||||
| Discontinued operations |
- |
10,827 |
4,776 |
16,168 |
||||||||
| $ |
23,492 |
$ |
42,538 |
$ |
114,184 |
$ |
135,345 |
|||||
| Note: 2. Online and other media services consists of: |
||||||||||||
| Three months ended September 30, |
Nine months ended September 30, |
|||||||||||
| 2015 |
2014 |
2015 |
2014 |
|||||||||
| (Unaudited) |
(Unaudited) |
(Unaudited) |
(Unaudited) |
|||||||||
| Online services |
$ |
15,924 |
$ |
18,712 |
$ |
49,125 |
$ |
57,912 |
||||
| Print service |
1,293 |
1,599 |
3,822 |
4,780 |
||||||||
| $ |
17,217 |
$ |
20,311 |
$ |
52,947 |
$ |
62,692 |
|||||
| Note: 3. Non-cash compensation expenses associated with the several equity compensation plans and Global Sources Directors Share Grant Award Plan included under various categories of expenses are as follows: |
||||||||||||
| Three months ended September 30, |
Nine months ended September 30, |
|||||||||||
| 2015 |
2014 |
2015 |
2014 |
|||||||||
| (Unaudited) |
(Unaudited) |
(Unaudited) |
(Unaudited) |
|||||||||
| Sales |
$ |
124 |
$ |
140 |
$ |
302 |
$ |
286 |
||||
| Community and content |
24 |
27 |
65 |
(5) |
||||||||
| General and administrative |
334 |
366 |
1,102 |
896 |
||||||||
| Information and technology |
48 |
52 |
181 |
172 |
||||||||
| $ |
530 |
$ |
585 |
$ |
1,650 |
$ |
1,349 |
|||||
| Note: 4. General and administrative expenses consist of: |
||||||||||||
| Three months ended September 30, |
Nine months ended September 30, |
|||||||||||
| 2015 |
2014 |
2015 |
2014 |
|||||||||
| (Unaudited) |
(Unaudited) |
(Unaudited) |
(Unaudited) |
|||||||||
| General and administrative expenses before |
$ |
9,095 |
$ |
9,306 |
$ |
27,400 |
$ |
26,998 |
||||
| Amortization of intangible assets |
957 |
1,220 |
3,064 |
5,879 |
||||||||
| Impairment charge on intangible assets |
- |
- |
- |
2,238 |
||||||||
| Foreign exchange losses (gains) |
1,268 |
(129) |
1,608 |
1,286 |
||||||||
| $ |
11,320 |
$ |
10,397 |
$ |
32,072 |
$ |
36,401 |
|||||
| Note: 5. Net Profit from discontinued operations, net of income tax consist of: |
||||||||||||
| Three months ended September 30, |
Nine months ended September 30, |
|||||||||||
| 2015 |
2014 |
2015 |
2014 |
|||||||||
| (Unaudited) |
(Unaudited) |
(Unaudited) |
(Unaudited) |
|||||||||
| Profit on sale of subsidiary |
$ |
223 |
$ |
- |
$ |
6,382 |
$ |
- |
||||
| Income tax expense |
- |
- |
(361) |
- |
||||||||
| Profit on sale of subsidiary, net of income tax |
223 |
- |
6,021 |
- |
||||||||
| Profit /(loss) from discontinued operations, net of income tax |
- |
2,721 |
(392) |
2,022 |
||||||||
| $ |
223 |
$ |
2,721 |
$ |
5,629 |
$ |
2,022 |
|||||
| GLOBAL SOURCES LTD. AND SUBSIDIARIES |
||||||||||||||
| ACTUAL IFRS to NON-IFRS RECONCILIATION |
||||||||||||||
| (In U.S. Dollars Thousands, Except Number of Shares and Per Share Data) |
||||||||||||||
| Three months ended September 30, |
Nine months ended September 30, |
|||||||||||||
| 2015 |
2014 |
2015 |
2014 |
|||||||||||
| IFRS diluted net profit/(loss) per share |
$ |
(0.17) |
$ |
0.06 |
$ |
0.33 |
$ |
0.26 |
||||||
| IFRS Net Profit/(Loss) |
$ |
(4,624) |
$ |
1,917 |
$ |
9,871 |
$ |
9,049 |
||||||
| Non-cash stock based compensation expense (Note 1) |
530 |
585 |
1,650 |
1,349 |
||||||||||
| Amortization of intangibles (Note 2) |
54 |
104 |
347 |
508 |
||||||||||
| Impairment of goodwill and intangibles (Note 3) |
- |
- |
- |
1,678 |
||||||||||
| Profit on sale of subsidiary (Note 4) |
(223) |
- |
(6,021) |
- |
||||||||||
| Non-IFRS Net Profit/(Loss) |
$ |
(4,263) |
$ |
2,606 |
$ |
5,847 |
$ |
12,584 |
||||||
| Non-IFRS diluted net profit/(loss) per share |
$ |
(0.16) |
$ |
0.08 |
$ |
0.19 |
$ |
0.37 |
||||||
| Total shares used in non-IFRS diluted net profit/(loss) |
||||||||||||||
| per share calculations |
27,359,011 |
31,487,766 |
30,088,869 |
34,166,224 |
||||||||||
| Notes: |
||||||||||||||
| (1) Actual SBC is calculated based on actual share price on date of the awards. |
||||||||||||||
| (2) Amortization of intangible assets relating to certain non-compete agreements. |
||||||||||||||
| (3) Impairment of intangibles are net of related taxes. |
||||||||||||||
| (4) Profit on sale of subsidiary is net of related tax. |
||||||||||||||
| GLOBAL SOURCES LTD. AND SUBSIDIARIES |
||||||||||||||
| ADJUSTED EBITDA RECONCILIATION |
||||||||||||||
| (In U.S. Dollars Thousands) |
||||||||||||||
| Three months ended September 30, |
Nine months ended September 30, |
|||||||||||||
| 2015 |
2014 |
2015 |
2014 |
|||||||||||
| IFRS profit/(loss) from operations including discontinued operations |
$ |
(4,760) |
$ |
4,065 |
$ |
6,164 |
$ |
11,126 |
||||||
| Depreciation and amortization including discontinued operations |
2,338 |
2,782 |
7,703 |
10,447 |
||||||||||
| EBITDA |
(2,422) |
6,847 |
13,867 |
21,573 |
||||||||||
| Non-cash stock based compensation expense |
530 |
585 |
1,650 |
1,349 |
||||||||||
| Impairment of goodwill and intangibles |
- |
- |
- |
2,238 |
||||||||||
| Adjusted EBITDA including discontinued operations |
$ |
(1,892) |
$ |
7,432 |
$ |
15,517 |
$ |
25,160 |
||||||
| GLOBAL SOURCES LTD. AND SUBSIDIARIES |
||||||
| GUIDANCE IFRS to NON-IFRS RECONCILIATION |
||||||
| (In U.S. Dollars Million, Except Number of Shares and Per Share Data) |
||||||
| GUIDANCE |
ACTUAL |
|||||
| Six months |
Six months |
|||||
| ended December 31, |
ended December 31, |
|||||
| 2015 |
2014 |
|||||
| Revenue |
$83.0 |
to |
$84.0 |
$91.8 |
||
| IFRS EPS |
$0.46 |
to |
$0.49 |
$0.32 |
||
| Non-cash stock based compensation expense (Note 1) |
$0.04 |
$0.04 |
$0.03 |
|||
| Amortization of intangibles (Note 2) |
$0.01 |
$0.01 |
$0.01 |
|||
| Gain on sale of investment property, net of transaction costs & |
(0.30) |
(0.30) |
- |
|||
| Non-IFRS diluted net income per share |
$0.21 |
to |
$0.24 |
$0.36 |
||
| Total shares used in non-IFRS diluted net income |
||||||
| per share calculations |
26,283,705 |
26,283,705 |
31,490,737 |
|||
| Notes: |
||||||
| (1) Actual SBC is calculated based on actual share price on date of the awards. |
||||||
| (2) Amortization of intangible assets relating to certain non-compete agreements. |
||||||
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