The remaining approximately $2 million will be derived from the Company's ENZO Division.
"Although they expect their wholesale business to grow more profitably than ever, their strategic goal is to continue to redeploy their cash towards the building of their ENZO retail chain stores in China," said Yih.
"This redeployment of their capital towards their fastest growing and highest-margin business segment should enable ENZO's contribution, as a percentage of total revenues, to grow significantly into the foreseeable future and, as a result, have a more positive impact on their earnings and shareholder value.
They are excited to soon being able to provide their shareholders with specific figures relating to their ENZO Division and how the current and next year stand to benefit from their retail strategy in China," concluded Yih.
Based on the revised guidance issued by the Company on February 9, 2005, LJI projects record revenue of more than $32 million and net income of $1.3 million, or $0.08 per fully diluted share, for its fourth quarter ending December 31, 2005.
If achieved, this would result in a 28 percent year-over-year increase in revenues, an 80 percent rise in net income, and a 50 percent rise in EPS despite a substantial increase in shares outstanding.
For the fiscal year 2005, the Company projected revenues of more than $95 million, up approximately 23% from the $77 million reported in 2004.
It also expects full-year 2005 net income of $3.0 million and EPS of $0.23.
Based in Hong Kong and the US, LJ International Inc is engaged in the designing, branding, marketing and distribution of a full range of jewelry.
It has built its global business, currently one of the fastest-growing in the jewelry industry, on a vertical integration strategy and an unwavering commitment to quality and service.
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
