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LJ International raises Q4, FY 2005 financial guidance

10
Feb '06
LJ International Inc, one of the fastest-growing jewelry companies in the world, has revised upward its revenue and earnings guidance for its fourth quarter and year ended December 31, 2005. The company attributed its increased guidance to better-than-expected growth in both its core business in the US as well as its new ENZO retail stores in China.

For the fourth quarter ended December 31, 2005, LJI expects to report record revenues of more than $32 million and net income of more than $1.3 million.

For the full year 2005, LJI expects revenues of at least $95 million and net income of more than $3.0 million. These upward revisions exceed the prior guidance given by the company in December 2005, when it projected fourth-quarter 2005 revenues of $26 million to $27 million ($89 million to $90 million for the full year 2005) and earnings per fully diluted share of between $0.07 and $0.08 ($0.22 to $0.23 for the full year).

Compared to the same period last year, for the fourth quarter ended December 31, 2005, LJI expects revenues to increase by at least 28 percent, net income to increase by approx. 80 percent and earnings per share on a fully-diluted basis to increase by at least 50 percent, despite a substantial increase in shares outstanding.

Yu Chuan Yih, LJI's Chairman and CEO, said, "We are pleased to soon be able to report another sequential as well as year-over-year quarter of record financial and operational results. Our ability to continuously meet or exceed our projections in both revenues and earnings is attributable to the faster than expected retail growth in China coupled with the continued steady growth in our worldwide wholesale operations."


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