Global Sources, the publisher behind EE Times Asia, has reported its third quarter 2009 results.
The company posted GAAP EPS of $0.03 and Non-GAAP EPS of $0.05. It has also increased cash and securities to $155.2 million with no debt. The news is fairly positive but, as Global Sources’ chairman and CEO, Merle A. Hinrichs, said: “third quarter revenue was impacted by the difficult global trade environment.”
Hinrichs continued, “however, we are encouraged by an increase in sourcing and marketing activity, most particularly at our recently completed China Sourcing Fairs in Hong Kong. Accordingly, we are confident that our strong balance sheet, enhanced efficiencies, and an experienced and extensive sales representation network have us well positioned for the anticipated improvement in trade in 2010.”