Global Sources 2014 Revenues Flat, Profits Down
April 8, 2015
This week, NASDAQ-listed Global Sources reported its full-year revenues for the year ended Dec. 31, 2014.
Revenues in 2014 were US$198.2 million – similar to the US$197.5 million recorded in 2013. IFRS net income in 2014 was US$18.3 million down from US$32.7 million – representing a 44 percent decline in profits.
Revenues from its online platforms dropped nearly 11 percent, falling from US$104.6 million in 2013 down to US$93.3 million last year.
On the positive side of things, revenues from exhibitions increased from US$85.6 million to US$97 million. The company has no debt and US$98.5 million in cash.
The growth outlook for the first half of 2015 remains weak. First half revenues are expected to be between US$90 million and US$92 million.
Revenues in the first half of 2014 were US$92.8 million. Management expects first half earnings per share (IFRS) will be between US$0.15 and US$0.19 – that is lower compared with US$0.20 in the first half of 2014.
The company anticipates that its online share of total revenues will continue to fall in 2015.
Global Sources’ CFO, Connie Lai said, “We expect the revenue mix for the first half of 2015 to range between 50 percent and 51 percent for exhibitions, 38 percent and 39 percent for online… This compares to a first half of 2014 revenue mix of approximately 45 percent for online, 45 percent for exhibitions.”
Partner Voices
MGM Resorts is committed to fostering an inclusive and diverse culture, not just among employees and guests but also within its supply chain. The company prioritizes procuring goods and services from businesses owned by minorities, women, veterans, people with disabilities, LGBTQ individuals and those facing economic disadvantages. This commitment is integral to MGM Resorts' global procurement strategy.
Through its voluntary supplier diversity program, MGM Resorts actively identifies and connects certified diverse-owned suppliers to opportunities within its supply chain. The company is on track to spend at least 15% of its biddable procurement with diverse-owned businesses by 2025, demonstrating that supplier diversity is not only a social responsibility but also a strategic business imperative.
Supplier diversity isn’t just the right thing to do – it’s good for business. A diverse supply chain allows access to a broader range of perspectives and experience, helping to drive innovation, entrepreneurship and resilience, while strengthening communities. At MGM Resorts, engaging diverse suppliers ensures best-in-class experiences for guests and clients. Supplier diversity ensures a more resilient supply chain while supporting economic development in the communities in which it operates.
The impact of MGM Resorts' supplier diversity initiatives is significant. In 2023, these efforts supported over 3,500 jobs across more than 30 states, contributed over $214 million in income for diverse-owned businesses and generated more than $62 million in tax revenue. The story extends beyond the numbers – it reflects the tangible benefits brought to small and diverse-owned businesses, fostering economic empowerment in their communities.
MGM Resorts also supports the development and business skills of diverse-owned businesses through investment, mentorship and education. Through the MGM Resorts Supplier Diversity Mentorship Program, the company identifies, mentors and develops diverse-owned businesses to fill its future pipeline, while providing businesses with tools and resources to empower and uplift. Since 2017, the program has successfully graduated 105 diverse-owned businesses and is on track to achieve its goal of 150 graduates by 2025.
MGM Resorts’ commitment to supplier diversity not only enhances its business operations but also plays a crucial role in uplifting communities and fostering economic development. This approach reinforces the idea that diversity is a powerful driver of innovation and resilience, benefiting both the company and the wider community.
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