Log In

Reset Password

Global declines

LOS ANGELES (Bloomberg) - Global Sources Ltd., which matches buyers and sellers online in China, fell the most in more than a week after failing to meet its forecast for fourth-quarter sales and profit.

Global Sources dropped $2.13, or 14 percent, to $13.25 in Nasdaq Stock Market composite trading, the biggest decline since January 22. The shares have fallen 53 percent this year.

Net income was 16 cents a share, compared with its December forecast of 23 cents to 25 cents, the Hamilton, Bermuda-based company said on Friday in a preliminary earnings statement. Sales were $60.8 million, missing its November forecast for $61 million to $62 million.

Print revenue for Chinese-language titles was lower than the company expected, CEO Merle Hinrichs said in the statement. The company, which will release results March 11, provides information on two million products and 170,000 suppliers through 14 websites, 13 monthly magazines, research reports and trade shows.