 |
- 2016年下半年錄得凈營業收入7,580萬美元 -
- 2016年下半年按“國際財務報告準則”計算每股盈利0.38美元，未按“國際財務報告準則”計算每股盈利0.51美元 -
- 2016年全年錄得凈營業收入1億5,770萬美元 -
- 2016年全年按“國際財務報告準則”計算每股盈利0.73美元，未按“國際財務報告準則”計算每股盈利0.96美元 -
- 2017年上半年凈營業收入指引：預計公司凈營業收入將介乎7,600萬至7,800萬美元之間，按“國際財務報告準則”計算每股盈利預計將介乎0.12至0.16美元之間 -
紐約2017年3月16日電 /美通社/ -- 環球資源 Global Sources Ltd. (NASDAQ: GSOL) 公布 2016年7月1日至12月31日期間的半年度及2016年全年業績報告。
環球資源執行董事長韓禮士 (Merle A. Hinrich) 先生表示：“2016年下半年，公司在香港舉辦的秋季貿易展覽會系列成績斐然，在展位銷售及參觀人數兩方面均錄得增長。其中，‘環球資源電子展’已然發展成為全球規模較大展示消費類電子及移動電子產品的采購盛會。環球資源始終占據有利的位置，在中國電子出口業的快速發展勢頭中取得優勢。我們的‘創客空間’是亞洲較大型的消費類電子初創硬件企業展覽，此項目在‘環球資源電子展’一期及二期中均有設置，是一個綜合研討會及展覽的平臺，讓買家可以接觸到前沿的創新科技，并快人一步將最新的電子產品推出市場。”
韓先生續說：“此外，我們也推出了全新‘智能生活’的行業網站、雜志及展會專區，內容涵蓋快速增長的智能家居行業的各類產品，包括智能安防、能源管理、娛樂產品、家用電器及配件等。環球資源將通過進一步整合公司的網站及展覽會服務，繼續專注于為客戶提升價值，我們的核心業務始終是把國際買家與中國及亞洲地區的供應商連結起來。”
業績要覽：2016年下半年與2015年下半年之年度比較分析
環球資源首席財務官賴秀琴女士表示：“環球資源2016年下半年的營收反映了公司在香港舉辦的出口貿易展覽會的卓越成績，但同時也顯示了網上業務所持續面對的挑戰。我們把‘中國 (深圳) 國際品牌服裝服飾交易會’一筆扣除相關稅務費用后，賬面凈值約220萬美元的資產完全減值。此外，受惠于遞延稅項資產的入賬，再加上公司致力控制成本，令盈利表現理想。”
業績要覽：截至 2016年12月31日全年與截至 2015年12月31日全年之年度比較分析
依據“國際財務報告準則”計算2017年上半年財務展望
近期企業要覽
環球資源2016年下半年度及全年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2017年3月16日上午8時 (香港時間2017年3月16日晚上8時) 主持投資者電話會議，旨在回顧公司2016年下半年度及全年的業績。美國投資者如欲參與本次電話會議，請撥打 (888) 256-1014；香港以外的國際投資者可撥打 (1-913) 312-1296。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3765441，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 2017年3月23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3765441。香港投資者則可撥打本地電話號碼 (800) 901-108，并輸入密碼3765441。
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)、貿易展覽會、雜志及手機應用程序，促進亞洲與全球各國的貿易往來。
超過170萬名國際買家、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”計算的凈利潤 (non-IFRS net profit) 定義為：按“國際財務報告準則”計算的凈利潤扣除非現金股票費用或凈值、與公司數個股權補償計劃相關的無形資產攤銷費用、公司任何購并或出售資產及投資，扣除其相關的交易及稅務費用后的收益或虧損，及/或公司所有扣除相關稅務費用后的減值支出。而未按“國際財務報告準則”計算的每股攤薄凈盈利 (Non-IFRS diluted net profit per share) 的定義為：未按“國際財務報告準則”計算的凈盈利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、非現金股票補償費用或凈值、任何購并或出售資產及投資，扣除其相關的交易及稅務費用后的收益或虧損、商譽及無形資產減值前的盈利。
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 December 31, |
As at December 31, |
|||
| 2016 |
2015 |
|||
| (Unaudited) |
||||
| ASSETS |
||||
| Current assets |
||||
| Cash and cash equivalents |
$ |
88,749 |
$ |
70,356 |
| Term deposits with banks |
9,919 |
9,097 |
||
| Financial assets, available-for-sale |
11,234 |
- |
||
| Accounts receivables, net |
838 |
849 |
||
| Receivables from sales representatives |
4,962 |
8,802 |
||
| Inventories |
111 |
176 |
||
| Prepaid expenses and other current assets |
14,129 |
16,268 |
||
| 129,942 |
105,548 |
|||
| Non-current assets |
||||
| Property and equipment |
71,604 |
59,064 |
||
| Investment properties |
47,955 |
69,726 |
||
| Intangible assets |
16,907 |
26,309 |
||
| Financial assets, available-for-sale |
257 |
- |
||
| Long term investment |
- |
100 |
||
| Deferred income tax assets |
2,669 |
389 |
||
| Other non-current assets |
2,118 |
951 |
||
| 141,510 |
156,539 |
|||
| Total assets |
$ |
271,452 |
$ |
262,087 |
| LIABILITIES AND SHAREHOLDERS’ EQUITY |
||||
| Current liabilities |
||||
| Accounts payable |
$ |
5,681 |
$ |
7,383 |
| Deferred income and customer prepayments |
77,450 |
75,265 |
||
| Accrued liabilities |
14,917 |
15,183 |
||
| Income tax liabilities |
934 |
2,990 |
||
| 98,982 |
100,821 |
|||
| Non-current liabilities |
||||
| Accounts payable |
- |
289 |
||
| Deferred income and customer prepayments |
4,040 |
2,917 |
||
| Deferred income tax liabilities |
2,453 |
4,493 |
||
| 6,493 |
7,699 |
|||
| Total liabilities |
$ |
105,475 |
$ |
108,520 |
| Equity attributable to Company’s shareholders |
||||
| Common shares |
536 |
533 |
||
| Treasury shares |
(250,089) |
(250,089) |
||
| Other reserves |
153,181 |
157,562 |
||
| Retained earnings |
258,293 |
239,812 |
||
| Total Company shareholders’ equity |
161,921 |
147,818 |
||
| Non-controlling interests |
4,056 |
5,749 |
||
| Total equity |
$ |
165,977 |
$ |
153,567 |
| Total liabilities and equity |
$ |
271,452 |
$ |
262,087 |
| GLOBAL SOURCES LTD. AND SUBSIDIARIES |
||||||||
| CONSOLIDATED INCOME STATEMENTS |
||||||||
| (In U.S. Dollars Thousands, Except Number of Shares and Per Share Data) |
||||||||
| Six months ended December 31, |
Year ended December 31, |
|||||||
| 2016 |
2015 |
2016 |
2015 |
|||||
| (Unaudited) |
(Unaudited) |
(Unaudited) |
||||||
| Revenue: |
||||||||
| Exhibitions |
$ |
44,968 |
$ |
45,683 |
$ |
92,381 |
$ |
91,854 |
| Online and other media services (Note 1) |
27,646 |
34,512 |
58,340 |
70,242 |
||||
| Miscellaneous |
3,235 |
4,914 |
6,946 |
8,929 |
||||
| 75,849 |
85,109 |
157,667 |
171,025 |
|||||
| Operating Expenses: |
||||||||
| Sales (Note 2) |
21,858 |
25,538 |
44,767 |
50,231 |
||||
| Event production |
12,018 |
12,309 |
25,084 |
24,533 |
||||
| Community and content (Note 2) |
8,152 |
10,332 |
17,163 |
20,535 |
||||
| General and administrative (Note 2 & 3) |
20,685 |
22,945 |
43,019 |
43,697 |
||||
| Information and technology (Note 2) |
5,541 |
6,896 |
11,315 |
13,348 |
||||
| Total Operating Expenses |
68,254 |
78,020 |
141,348 |
152,344 |
||||
| Profit on sale of property |
- |
9,791 |
- |
9,791 |
||||
| Profit from Operations |
7,595 |
16,880 |
16,319 |
28,472 |
||||
| Interest income |
265 |
226 |
558 |
792 |
||||
| Gain on sale of available-for-sale securities |
26 |
52 |
93 |
188 |
||||
| Profit on sale of long term investment |
- |
- |
43 |
- |
||||
| Interest expenses |
(7) |
(24) |
(23) |
(83) |
||||
| Profit before Income Taxes |
7,879 |
17,134 |
16,990 |
29,369 |
||||
| Income tax credit / (expense) |
752 |
(2,421) |
1,328 |
(4,609) |
||||
| Net Profit from continuing operations |
$ |
8,631 |
$ |
14,713 |
$ |
18,318 |
$ |
24,760 |
| Net Profit from discontinued operations, net of income tax (Note 4) |
- |
223 |
- |
5,629 |
||||
| Net profit |
$ |
8,631 |
$ |
14,936 |
$ |
18,318 |
$ |
30,389 |
| Net (profit)/loss attributable to non-controlling interests from: |
||||||||
| Continuing operations |
913 |
457 |
51 |
(765) |
||||
| Discontinued operations |
- |
- |
- |
264 |
||||
| Total |
913 |
457 |
51 |
(501) |
||||
| Net profit attributable to the Company’s shareholders from: |
||||||||
| Continuing operations |
$ |
9,544 |
$ |
15,170 |
$ |
18,369 |
$ |
23,995 |
| Discontinued operations |
- |
223 |
- |
5,893 |
||||
| Total |
$ |
9,544 |
$ |
15,393 |
$ |
18,369 |
$ |
29,888 |
| Diluted net profit per share attributable to the Company’s shareholders from: |
||||||||
| Continuing operations |
$ |
0.38 |
$ |
0.58 |
$ |
0.73 |
$ |
0.83 |
| Discontinued operations |
- |
0.01 |
- |
0.20 |
||||
| Total |
$ |
0.38 |
$ |
0.59 |
$ |
0.73 |
$ |
1.03 |
| Shares used in diluted net profit per share calculations |
25,397,702 |
26,249,657 |
25,305,261 |
28,820,976 |
||||
| Note: 1. Online and other media services consists of: |
||||||||
| Six months ended December 31, |
Year ended December 31, |
|||||||
| 2016 |
2015 |
2016 |
2015 |
|||||
| (Unaudited) |
(Unaudited) |
(Unaudited) |
||||||
| Online services |
$ |
25,064 |
$ |
31,220 |
$ |
52,750 |
$ |
64,421 |
| Print services |
2,582 |
3,292 |
5,590 |
5,821 |
||||
| $ |
27,646 |
$ |
34,512 |
$ |
58,340 |
$ |
70,242 |
|
| Note: 2. 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: |
||||||||
| Six months ended December 31, |
Year ended December 31, |
|||||||
| 2016 |
2015 |
2016 |
2015 |
|||||
| (Unaudited) |
(Unaudited) |
(Unaudited) |
||||||
| Sales |
$ |
206 |
$ |
240 |
$ |
279 |
$ |
418 |
| Community and content |
44 |
47 |
62 |
88 |
||||
| General and administrative |
624 |
650 |
1,360 |
1,418 |
||||
| Information and technology |
85 |
92 |
204 |
225 |
||||
| $ |
959 |
$ |
1,029 |
$ |
1,905 |
$ |
2,149 |
|
| Note: 3. General and administrative expenses consist of: |
||||||||
| Six months ended December 31, |
Year ended December 31, |
|||||||
| 2016 |
2015 |
2016 |
2015 |
|||||
| (Unaudited) |
(Unaudited) |
(Unaudited) |
||||||
| General and administrative expenses before |
$ |
15,331 |
$ |
18,984 |
$ |
33,310 |
$ |
37,289 |
| Amortization of intangible assets |
1,639 |
2,207 |
3,681 |
4,314 |
||||
| Impairment charge on intangible assets |
2,889 |
- |
4,791 |
- |
||||
| Foreign exchange losses |
826 |
1,754 |
1,237 |
2,094 |
||||
| $ |
20,685 |
$ |
22,945 |
$ |
43,019 |
$ |
43,697 |
|
| Note: 4. Net Profit from discontinued operations, net of income tax consist of: |
||||||||
| Six months ended December 31, |
Year ended December 31, |
|||||||
| 2016 |
2015 |
2016 |
2015 |
|||||
| (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 |
||||
| Loss from discontinued operations, net of income tax |
- |
- |
- |
(392) |
||||
| $ |
- |
$ |
223 |
$ |
- |
$ |
5,629 |
|
| GLOBAL SOURCES LTD. AND SUBSIDIARIES |
|||||||||||||
| ACTUAL IFRS to NON-IFRS RECONCILIATION |
|||||||||||||
| (In U.S. Dollars Thousands, Except Number of Shares and Per Share Data) |
|||||||||||||
| Six months ended December 31, |
Year ended December 31, |
||||||||||||
| 2016 |
2015 |
2016 |
2015 |
||||||||||
| IFRS diluted net profit per share from continuing operations |
$ |
0.38 |
$ |
0.58 |
$ |
0.73 |
$ |
0.83 |
|||||
| IFRS Net Profit from continuing operations |
$ |
9,544 |
$ |
15,170 |
$ |
18,369 |
$ |
23,995 |
|||||
| Non-cash stock based compensation expense (Note 1) |
959 |
1,029 |
1,905 |
2,149 |
|||||||||
| Amortization of intangibles (Note 2) |
179 |
88 |
363 |
381 |
|||||||||
| Profit on sale of long term investment |
- |
- |
(43) |
- |
|||||||||
| Impairment of goodwill and intangibles (Note 3) |
2,167 |
- |
3,593 |
- |
|||||||||
| Profit on sale of property, net of transaction costs & related tax expenses |
- |
(7,550) |
- |
(7,550) |
|||||||||
| Non-IFRS Net Profit continuing operations |
$ |
12,849 |
$ |
8,737 |
$ |
24,187 |
$ |
18,975 |
|||||
| Non-IFRS diluted net profit per share from continuing operations |
$ |
0.51 |
$ |
0.33 |
$ |
0.96 |
$ |
0.66 |
|||||
| Total shares used in non-IFRS diluted net profit |
|||||||||||||
| per share calculations |
25,397,702 |
26,249,657 |
25,305,261 |
28,820,976 |
|||||||||
| 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. |
|||||||||||||
| GLOBAL SOURCES LTD. AND SUBSIDIARIES |
|||||||||||||
| ADJUSTED EBITDA RECONCILIATION |
|||||||||||||
| (In U.S. Dollars Thousands) |
|||||||||||||
| Six months ended December 31, |
Year ended December 31, |
||||||||||||
| 2016 |
2015 |
2016 |
2015 |
||||||||||
| IFRS profit from continuing operations |
$ |
7,595 |
$ |
16,880 |
$ |
16,319 |
$ |
28,472 |
|||||
| Depreciation and amortization from continuing operations |
4,179 |
4,961 |
8,946 |
9,999 |
|||||||||
| EBITDA |
11,774 |
21,841 |
25,265 |
38,471 |
|||||||||
| Non-cash stock based compensation expense |
959 |
1,029 |
1,905 |
2,149 |
|||||||||
| Impairment of goodwill and intangibles |
2,889 |
- |
4,791 |
- |
|||||||||
| Profit on sale of property, net of transaction costs |
- |
(9,791) |
- |
(9,791) |
|||||||||
| Adjusted EBITDA from continuing operations |
$ |
15,622 |
$ |
13,079 |
$ |
31,961 |
$ |
30,829 |
|||||
| 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 June 30, |
ended June 30, |
|||||
| 2017 |
2016 |
|||||
| Revenue |
$76.0 |
to |
$78.0 |
$81.8 |
||
| IFRS EPS |
$0.12 |
to |
$0.16 |
$0.35 |
||
| Non-cash stock based compensation expense (Note 1) |
$0.04 |
$0.04 |
$0.04 |
|||
| Amortization of intangibles (Note 2) |
$0.01 |
$0.01 |
$0.00 |
|||
| Impairment of goodwill and intangibles (Note 3) |
$0.00 |
$0.00 |
$0.06 |
|||
| Non-IFRS diluted net income per share |
$0.17 |
to |
$0.21 |
$0.45 |
||
| Total shares used in non-IFRS diluted net income |
||||||
| per share calculations |
25,600,000 |
25,600,000 |
25,358,358 |
|||
| 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. |
||||||
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