Exhibit 1
global sources
FOR IMMEDIATE RELEASE
Global Sources Investor contact:
Kirsten Chapman & Moriah Shilton
Lippert/Heilshorn & Associates, Inc.
Tel: (415) 433-3777
Fax: (415) 433-5577
e-mail: kirsten@lhai-sf.com
Global Sources contact in Asia: Global Sources contact in U.S.:
Camellia So James W.W. Strachan
Tel: (852) 2555 5023 Tel: (602) 978 7504
Fax: (852) 2518 8764 Fax: (602) 978 7512
e-mail: cso@globalsources.com e-mail: strachan@globalsources.com
Global Sources Releases Letter to Shareholders;
Announces Timing of First Quarter 2005 Earnings Results Conference Call
HONG KONG, April 15, 2005 - Global Sources Ltd. (NASDAQ: GSOL) issued their
annual letter to shareholders and advised that the conference call to review
first quarter 2005 results is scheduled to be held on May 12, 2005, at 8:00 a.m.
EDT in the United States, which will be 8:00 p.m. in Hong Kong.
In the letter to shareholders, chairman and chief executive officer Merle A.
Hinrichs noted: "The strong financial results of 2004 demonstrate the success of
our strategy to expand in China and serve markets with online, print and
trade-show media." He briefly reviewed 2004 then elaborated on Global Sources'
market positioning, growth strategy and some of the company's new and developing
initiatives.
Extracts follow and the complete letter is posted at
http://corporate.globalsources.com/INFO/PRESS/DOWNLOAD/SLETTER.PDF.
2004 Highlights
o Revenue of US$105.8 million, an increase of 15 percent versus 2003
o Revenue from China of US$50 million, up 26 percent versus 2003
o Net income of US$15.8 million, up 115 percent versus 2003
New Initiatives
The following are some exciting new and developing initiatives:
o Launching Garments & Textiles: We will launch Global Sources Garments
& Textiles Web site and magazine in April and June 2005 respectively,
to address the rapid expansion of China manufacturing now that quotas
have been removed.
o Hosting Private Sourcing Events: We will expand the number of Private
Sourcing Events in 2005. These offer qualified suppliers with the
opportunity to meet one-on-one with some of the largest buyers in the
world.
o Extending Chief Executive China: In 2004, the publication retained its
position as the leading management magazine in China, as measured by
annual revenue and audited circulation, which exceeded 150,000.
Advertisers included BMW, IBM and Rolex; the magazine's companion
Website has more than 300,000 registered users; and last fall we
launched Career Sources China to offer print and online classifieds.
o Providing Data Synchronization: The UCCnet and the WorldWide Retail
Exchange have certified our data synchronization solution which
enables buyers and suppliers to share data more effectively. With
Wal-Mart, Carrefour and other large retailers steadily requiring more
and more of their suppliers to comply with this standard, we expect
this to become a future revenue stream from suppliers.
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o Publishing Market Intelligence Reports: During 2004, we published 56
reports, including titles such as DVD Players, Stuffed Plush Toys, and
T-Shirts & Polo Shirts.
Each report provides extremely detailed information on suppliers and supply
market conditions throughout Greater China that is based on factory visits,
face-to-face interviews and detailed questionnaires. Revenue is derived
from sales to buyers.
Conference Call
Global Sources will conduct a conference call at 8:00 a.m. EDT on May 12, 2005
(8:00 p.m. on May 12 in Hong Kong) to review these results in more detail.
Investors in the United States may participate in the call by dialing (800)
218-0204, and international participants may dial (1-303) 262-2130. For
investors in Hong Kong, a local dial-in number, (852) 3009-3050, has also been
established. A live webcast of the conference call will be available on Global
Sources' corporate site at www.investor.globalsources.com. For those who cannot
listen to the live broadcast, a webcast replay of the call will be available on
the company's corporate site for at least 30 days. There will also be a
telephone replay of the call available through May 14. To listen to the
telephone replay, dial (800) 405-2236, or dial (1-303) 590-3000 outside the
United States, and enter pass code 11027991#. For those in the Hong Kong area,
the replay dial-in number is (852) 2287-4304, and enter pass code 202110#.
About Global Sources
Global Sources is a leading business-to-business (B2B) media company that
facilitates global trade, with a particular focus on the China market, by
providing information to international buyers and integrated marketing services
to suppliers.
We deliver content to our communities through our leading network of nine
vertical marketplaces and 13 geographic portals, and through magazines, CD-ROMs
and private catalogs, as well as China Sourcing Fairs and technical events. Our
flagship marketplace, Global Sources Online (www.globalsources.com), hosts more
marketing and sourcing activity than any other global merchandise trade
marketplace.
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We serve a growing, independently certified community of more than 423,000
active buyers in over 230 countries and territories. These buyers generate more
than 4 million inquiries annually for more than 130,000 suppliers through Global
Sources Online alone. We offer extensive creative services and export
consultation through 150 client service officers in Greater China and other
leading supply markets, and through more than 800 sales representatives who make
approximately 40,000 supplier visits monthly. In mainland China, we have 23
years on-the-ground presence, supported by more than 1,100 team members in 44
locations throughout the country.
Global Sources' solutions are based on 34 years as a trade magazine publisher
serving the global trade community, 14 years as a trade management software
developer, 13 years as manager of trade shows in Asia, and nine years as an
online marketplace operator.
This news release contains forward-looking statements within the meaning of
Section 27-A of the Securities Act of 1933, as amended and Section 21-E of the
Securities Exchange Act of 1934, as amended. The company's actual results could
differ materially from those set forth in the forward-looking statements as a
result of the risks associated with the company's business, changes in general
economic conditions, and changes in the assumptions used in making such
forward-looking statements.
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