Home / Knowledge / News / Fashion / FUQI International retains earnings of $16.8 mn

FUQI International retains earnings of $16.8 mn

Mar '08
FUQI International Inc announced financial results for the fourth quarter and fiscal year ended December 31, 2007.

Revenues for the fourth quarter of 2007 increased 122% to $55.1 million from $24.8 million in the fourth quarter of 2006, due to increases in sales volumes and selling prices.

Gross profit in the fourth quarter increased 98% to $5.8 million compared to $2.9 million in the prior year. This increase in gross profit was primarily attributable to higher selling prices for new jewelry designs as well as a generally more favorable pricing environment in the precious metal market, which resulted in increased processing fees on jewelry items delivered during the fourth quarter.

Gross profit margin for the fourth quarter decreased 120 basis points to 10.6% compared to 11.8% in the prior year. The decline in gross margin occurred for two reasons.

First, during the quarter, the Company initiated (and has since ended) a limited-time, promotional discount on design fees that increased brand awareness, attracted new buyers, and generated larger orders.

Additionally, gross margin was impacted by some very short-term fluctuations in gold prices during late November and early December. As a result of increased demand, the Company replenished its lower-cost inventory in November in preparation for a large sales event hosted by the Company in December.

Raw materials prices in both November and December were higher than the inventory that had already been used in the quarter, and as a result of the short-term fluctuation, gross margin was also impacted.

Must ReadView All

Pic: Shutterstock

Textiles | On 12th Aug 2020

Chinese textile companies' revenues decline in H1

Revenues of major Chinese textile companies with an annual turnover...

Pic: Shutterstock

Textiles | On 12th Aug 2020

Bangladesh's BEZA, Yabang Group sign land lease agreement

Bangladesh Economic Zones Authority (BEZA) recently signed a land...


Retail | On 12th Aug 2020

UK's Baird Group unveils CVA proposals

The Baird Group is the latest UK retailer to launch a company...

Interviews View All

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli, Epson, For.Tex & F.lli Robustelli

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Rashi Menda, Zapyle

Rashi Menda

Every fifth sale we make on Zapyle is a repeat purchase

Textile industry, Head honchos

Textile industry
Head honchos

Quality should be the #1 priority

Abhishek Pachauri,

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Mehul Vithalani,

Mehul Vithalani

Gopi Knitts is one of the most celebrated manufacturers and suppliers of...

Cong Zheng,

Cong Zheng

The China Textile Machinery Association (CTMA) is a social-economic...

Iago Castro Asensio, RCfil Distribuciones S.L.

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Jacques Prigneaux, EDANA

Jacques Prigneaux

EDANA has been the leading global association and voice of the nonwovens...

Isabel Herranz, European School of Business & innovation

Isabel Herranz
European School of Business & innovation

Cutting-edge ideas like the Internet of Things and artificial intelligence ...

Prathyusha Garimella, Prathyusha Garimella

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Aneeth Arora, Péro

Aneeth Arora

The Woolmark Company has partnered with handmade fashion label Péro and...

Tony Ward, Tony Ward

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

August 2020

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

Advanced Search