Global Sources' chairman and CEO, Merle A. Hinrichs, said: "For 37 years, Global Sources' management has successfully led the company through many economic disruptions and our business model enables us to effectively adapt to challenging business environments like we have today. Revenue for the quarter increased 11%, compared to the third quarter of 2007, driven by the continued success of our online business, which grew 19%. Global Sources' resilient financial condition, successful product offerings and focused strategy have the company well positioned for continued prosperity as we look to the future.
Third quarter: 2008 compared to 2007 -- Revenue was $37.6 million, up 11% from $33.8 million. -- Online revenue was $23.5 million, up 19% from $19.7 million. -- Exhibitions revenue was $511,000, up 13% from $454,000. -- Print revenue was $11.9 million, down 6% from $12.6 million. -- Revenue from mainland China was $24.3 million, up 22% from $19.9 million. -- GAAP net income was $2.3 million, or $0.05 per diluted share, which included a credit of $0.4 million, or $0.01 per share of non-cash, stock-based compensation expense (SBC) based on a stock price of $10.07 on Sept. 30, 2008. For the third quarter of 2007, GAAP net income was $5.1 million, or $0.11 per diluted share.
What They Do: Global Sources is a leading business-to-business media company and a primary facilitator of trade with Greater China. The core business uses English-language media to facilitate trade from Greater China to the world. The other business segment utilizes Chinese-language media to enable companies to sell to, and within Greater China.
How They Trade: GSOL has a 52 week high of $30.85 and a 52 week low of $5.80.
Purio, Inc. (OTCBB: PURO) Trading at $0.11, Up 37%. Announced yesterday after market close that it is in the final stages of setting up its first commercial outlet in Southern California. The mandate of the division DBA UltraSafe Water Source(TM) is to serve the growing number of business offices that wish to eliminate bottled water, aim to cut costs, eliminate the 5-gallon bottles from their operations, and do so with nothing to buy.
Daryl English, President of Purio, says, "North America is in the infancy of a major paradigm shift in the way business offices supply purified drinking water to their staffs and clients. We see it as a major up-coming trend and we see ourselves in a great position to profit from it. Businesses are motivated in many ways to take action and upgrade their office water service from bottle-style dispensers to modern point-of-use (POU) water purifiers and totally do away with bottled water delivery. The first motivation is cost cutting and we can often cut the monthly water budget by over 25%. Second is the convenience factor; by eliminating the plastic 5-gallon bottles, offices free up precious floor and storage space, and eliminate the risk of employee injury caused by the lifting of the 45 pound back-breakers. Our POU purifiers not only offer a fresher tasting, better quality water, compared to bottles because it's not stored in plastic for weeks before consumption, but they also offer a greater production capacity so that businesses never more worry about running out of purified water. Couple that with the environmental care factor, whereby business can update their water service from the energy hungry, labor intensive and carbon producing delivery system of old fashioned bottles, and we are of the opinion that we are on the leading edge of a business boom."
Mr. English cited cities like San Francisco, Chicago and Vancouver, British Columbia as examples of municipalities that have banned the use of bottled water in their facilities due to concerns over its affect on the environment as well as concerns about possible health risks recently revealed from studies of chemicals leaching from water bottles into the drinking water.
What They Do: Purio owns proprietary water clarification technology suitable to a broad number of applications including the clarification of surface water, industrial process water and sewage. Purio intends to apply its technology initially to industrial and commercial applications to reclaim water and reduce the need for fresh water in such applications. Purio further intends to use its proprietary technology to produce potable water for commercial and residential use. Purio will commercialize its technology via a number of channels, namely licensing strategic partners to build and sell &/or operate units outside of North America, outright sale of their second generation (patent pending) units to end users and will build, own and operate on a fee for service basis their larger permanent installation units in North America.
How They Trade: PURO has a 52 week high of $0.89 and a 52 week low of $0.05.
AMAG Pharmaceuticals (Nasdaq: AMAG) Trading at $33.61, Up 82%. Today announced that the U.S. Food and Drug Administration (FDA) has designated the Company’s resubmission to the October 2008 Complete Response letter for its New Drug Application (NDA) for ferumoxytol as a complete, Class 1 response. The FDA has established a December 30, 2008 Prescription Drug User Fee Act (PDUFA) target action date. AMAG is seeking marketing approval for ferumoxytol for the treatment of iron deficiency anemia in patients with all stages of chronic kidney disease (CKD), including those on dialysis and those not on dialysis.
What They Do: AMAG Pharmaceuticals, Inc. is a biopharmaceutical company that utilizes its proprietary technology for the development and commercialization of a therapeutic iron compound to treat anemia and novel imaging agents to aid in the diagnosis of cancer and cardiovascular disease.
How They Trade: AMAG has a 52 week high of $66.94 and a 52 week low of $18.33.
Mechel OAO (NYSE: MTL) Trading at $5.83, Up 17%. Today announced that a contract has been signed between its Chelyabinsk Metallurgical Plant OAO (CMP OAO) subsidiary and Russian Railways OAO (RZhD OAO) for the supply of rail products. The agreement is in line with the long-term partnership agreement signed between Mechel OAO and RZhD OAO early this year.
What They Do: Mechel is one of the leading Russian companies. Its business includes three segments: mining, steel, and power. Mechel unites producers of coal, iron ore concentrate, nickel, steel, rolled products, hardware, heat and electric power. Mechel products are marketed domestically and internationally.
How They Trade: MTL has a 52 week high of $58.66 and a 52 week low of $3.77.
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