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LJI overall gross profit rise in H1 2007
31 Dec '07
2 min read
LJ International Inc (LJI) announced financial results for the Company's first six months ended June 30, 2007.
Revenues for the first six months ended June 30, 2007 totaled $67.16 million, up 34% from $50.10 million in the first six months of 2006. Net income for the first six months ended June 30, 2007 was $1.83 million, or $0.08 per fully diluted share, up 60% on a per-share basis from $0.95 million, or $0.05 per fully diluted share, in the first six months of 2006.
The majority of the rise in revenues for the first half of 2007 was primarily due to the growth of LJI's ENZO retail division, which currently has 93 retail stores in operation across Greater China.
LJI's overall gross profit in the first six months of 2007 rose to $19.32 million, or 29% of revenues, from $13.10 million, or 26% of revenues, in 2006 primarily as a result of the Company's higher-margin ENZO revenue mix.
Selling, general and administrative (SG&A) expenses for the first six months of 2007 totaled $15.06 million, up from $10.90 million in the first six months of 2006.
The increase was due to increased advertising, rental, staffing and other costs stemming from ENZO's increased store count as well as higher corporate-level expenses, including legal and professional advisory services.
Revenues for the first six months ended June 30, 2007 totaled $67.16 million, up 34% from $50.10 million in the first six months of 2006. Net income for the first six months ended June 30, 2007 was $1.83 million, or $0.08 per fully diluted share, up 60% on a per-share basis from $0.95 million, or $0.05 per fully diluted share, in the first six months of 2006.
The majority of the rise in revenues for the first half of 2007 was primarily due to the growth of LJI's ENZO retail division, which currently has 93 retail stores in operation across Greater China.
LJI's overall gross profit in the first six months of 2007 rose to $19.32 million, or 29% of revenues, from $13.10 million, or 26% of revenues, in 2006 primarily as a result of the Company's higher-margin ENZO revenue mix.
Selling, general and administrative (SG&A) expenses for the first six months of 2007 totaled $15.06 million, up from $10.90 million in the first six months of 2006.
The increase was due to increased advertising, rental, staffing and other costs stemming from ENZO's increased store count as well as higher corporate-level expenses, including legal and professional advisory services.
LJ International Inc
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