>>
Home / Knowledge / News / Fashion / FUQI Intl incerases revenue forecast

FUQI Intl incerases revenue forecast

18
Apr '08
FUQI International Inc a leading designer of high quality precious metal jewelry in China, developing, promoting, and selling a broad range of products in the large and rapidly expanding Chinese luxury goods market, announced that after initial review of its operating results for the 2008 first quarter, and internal forecasts for the remainder of the year, management sees operating results for its business substantially ahead of its most recent financial guidance provided at the time the Company reported its fourth quarter and fiscal 2007 financial results.

Management now anticipates first quarter 2008 revenue of US$76-$77 million, net income of $5.7-$5.8 million and diluted EPS of $0.27-$0.28. Preliminary first quarter financial results include an expected contribution of approximately $1.0-$1.1 million from the Company's two jewelry retail counters.

This new guidance replaces management's previous forecast of wholesale revenue of approximately US$62 million, net income in the range of $4.0-$4.4 million, and diluted EPS of $0.19-$0.21. Gross margin for the first quarter is expected to be approximately 11%, and net margin is expected to be approximately 7.5%.

The Company has also raised its financial forecast for the 2008 fiscal year. The Company now anticipates total wholesale revenue of approximately US$290-$300 million, net income of $18.9-$19.5 million, and diluted EPS of $0.85-$0.90.

This updated guidance replaces management's previous 2008 forecast of wholesale revenue of approximately US$235-$250 million, net income of $15.3-$17.5 million, and diluted EPS of $0.70-$0.80.


Must ReadView All

Pic: Shutterstock

Textiles | On 19th Jan 2022

Supply bottlenecks, high prices, omicron affect growth prospects: ECB

The global economy is on a recovery path, although persisting supply...

Pic: Shutterstock

Textiles | On 19th Jan 2022

Inflation peaks months earlier in Turkey than expected

Turkish finance minister Nureddin Nebati said inflation would peak in ...

Pic: Shutterstock

Textiles | On 18th Jan 2022

Singapore, Bangladesh agree to conclude FTA early

Bangladesh and Singapore have agreed to accelerate the process of...

Interviews View All

Water stewardship, Stakeholders

Water stewardship
Stakeholders

Water use efficiency remains relatively unexplored

Textile Industry, Head honchos

Textile Industry
Head honchos

Donating 20,000 N95 masks to hospitals & NGOs

Textile Industry, Head honchos

Textile Industry
Head honchos

Good tidings expected for textile industry

Daniele Uboldi,

Daniele Uboldi

EptaInks is the screen-printing division of Eptanova, a company that...

Dr. Catherine Tubb,

Dr. Catherine Tubb

Created in 2018 to investigate the risk of market failure related to...

Simone Morgante,

Simone Morgante

Based out of Como, Italy, and with technological expertise of nearly 70...

Shaan Sethi, Jaanuu

Shaan Sethi
Jaanuu

Jaanuu, a vertically integrated e-commerce company, has reimagined the...

Madison Maxey, Loomia

Madison Maxey
Loomia

Loomia designs and manufactures soft circuit systems that can be produced...

Hemant Bheda, Arevo

Hemant Bheda
Arevo

Arevo, based in Silicon Valley in California, develops technology to...

Anju Modi, Label Anju Modi

Anju Modi
Label Anju Modi

Filmfare Award winner for best costume designer,<b> Anju Modi </b>is...

Samant Chauhan, Label Samant Chauhan

Samant Chauhan
Label Samant Chauhan

Delhi based fashion designer, <b>Samant Chauhan</b> who mostly works on...

Sujata & Taniya Biswas, Suta

Sujata & Taniya Biswas
Suta

Founded by <b>Sujata and Taniya Biswas</b>, Suta is a humble brand which...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments

ESTEEMED CLIENTS

Gokaldas Exports Limited
Tory Burch Hong Kong Ltd
Esprit Europe Services GmbH
The Top Form Brassiere Manufacturing Company Limited
Sateri (Jiujiang) Fiber Co.,Ltd
Arvind Limited
Walmart
Abit
Seasalt Limited
Boardriders Asia Sourcing Limited
Green Fibre
Lifestyle
LC Waikiki
Maceton Limited
Gap International Sourcing Limited
Hela Clothing Pvt Ltd
Rayonese Textile Inc., Division de Culp Inc.
KIABI

January 2022

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


Advanced Search