Global Sources Ltd. (GSOL), a business-to-business media company, Thursday said it intends to change the frequency of its interim financial reporting from quarterly to semi-annually effective beginning in 2016. According to the firm, the new reporting schedule more accurately reflects the increasing revenue contribution and seasonality of the company's exhibitions business.
Executive chairman, Merle Hinrich, said, "Global Sources' Board of Directors decided to initiate a semi-annual reporting schedule to reflect the cyclical nature of our exhibitions business as our Hong Kong trade shows held in April and October have become an increasingly strong revenue contributor to our business."
Global Sources is scheduled to publish fourth quarter and full year 2015 financial results on March 17, 2016, with the filing of 2015 financial statements in April.
The company plans the annual report and the Annual Letter to Shareholders in May 2016, and the six-month period Jan. 1, 2016 through June 30, 2016 financial results on September 13.
The company intends to continue using all the same revenue reporting categories of online and other media services, Exhibitions and Miscellaneous.
The company plans to continue providing half year guidance for revenue and IFRS and non-IFRS net income per share.
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