Auctionbytes-NewsFlash, Number 1084 - August 12, 2005 - ISSN 1539-5065      Previous Story |

By Ina Steiner
AuctionBytes.com
August 12, 2005
Reading AuctionBytes: Global Sources Announces Second Quarter 2005 Results

Global Sources Ltd. has reported financial results for the second quarter and six-month period ended June 30, 2005.

CEO Merle A. Hinrichs said, "This quarter we made significant progress on new business initiatives, expanding the sales channels we offer suppliers and increasing the number of vertical markets that we serve. Our eBay strategic alliance adds a direct sales component to the company's online marketplace, magazine and trade show channels. Under this alliance, suppliers can now post on eBay China, and soon will be able to post to eBay's Reseller Marketplace. Later this year, Global Sources Direct will be offering warehousing, customer service, and payment services to assist suppliers with selling on eBay China, the Reseller Marketplace, and other eBay properties."

Highlights: second quarter 2005 compared to second quarter 2004

• Revenue was $31.7 million, compared to $29.0 million.
  
  - Revenue from China accounted for $15.4 million, compared to $14.6 million.
  
  - Short- and long-term deferred income and customer prepayments, all received in cash, were $37.8 million, up from $24.9 million.