LJ International receives record $22m in new orders

20 Jun '06

3 min read

LJ International Inc, one of the fastest-growing jewelry companies in the world, has reported that it has booked new orders of approx. $22 million, to be recognized over the next six months, as a result of its appearance at this month's JCK Show held in Las Vegas.

The order volume represents a new JCK Show record for LJI.

The JCK Show, one of the leading exhibitions in the global jewelry business, was held June 3 through June 7 in Las Vegas. LJI's order volume at the 2006 show was approx. 10 percent above the $20 million it booked at JCK-Las Vegas in 2005, and approx. 29 percent above the $17 million it booked in 2004.

Yu Chuan Yih, LJI's Chairman and CEO, said, "The annual JCK show is a growing source of new orders for LJI and a major indicator of future growth in the global jewelry industry. Our strong performance at this year's JCK show indicates that the growth in our core wholesale business remains robust and should meet or beat our expectations for 2006.”

“We also were very pleased to experience very strong interest in our latest diamond and gold lines which were first launched at this Show. Our two prong growth strategy of increasing our wholesale business in the US while expanding on our position as the largest foreign branded jewelry retailer in China is continuing to exceed all of our internal expectations and should result in another record year for LJI," he added.

In the latest reporting quarter, ending March 31st 2006, LJI reported revenues of $24.16 million, up 39 percent from $17.44 million in the first quarter of 2005. Net income in the latest quarter was $322,000, or $0.02 per fully diluted share, up 29 percent from $249,000, also $0.02 per fully diluted share, in the first quarter of 2005.

More LJ International Inc News... More Fashion News - United States Of America...