JADE @ 4 1/2 .. a real company
1)Hong Kong based .. but that's China now ..
2)Sells product via web-site and QVC
3)Has revenues/earnings/profits
4)Christmas coming
6.37mm shs/ 2.50 mm float
-----------------------------------------------------------
NEW YORK, HONG KONG--(BUSINESS WIRE)--October 7, 1999--LJ International Inc. (NASDAQ/NMS-JADE) today announced record unaudited results for the 1st quarter ending July 31st, 1999. The Company reported that its net income for the 1st quarter increased by 59% to $950,000 versus $ 597,000 for the comparable period last year. Revenues increased 26 % to 7.538 million for the 1st quarter versus $5.983 million in the period ending July 31st, 1998.
On a per share basis, the Company reported fully diluted per share earnings of $.15 for the quarter, a 65% increase over the corresponding period last year 1998 of $0.09. Gross profit margins for the quarter were 44%. Total shareholders equity increased 43% to $16.6 million from $11.7 million for the comparable period last year. All net income figures for both quarters have been adjusted in accordance with U.S. GAAP accounting.
About LJ International: LJ International is one of the world's few totally integrated gem set jewelry manufacturers (cutting gemstones as well as manufacturing fine jewelry). The Company operates four manufacturing facilities in the PRC that employ around 2,500 skilled craftsmen. The Company produces more than 1 million pieces of fine finished jewelry, and cuts more than 4 million carats of high quality gemstones annually. The newly designed web site for public shopping features the latest technologies available today, which include Electronic shopping cart, guaranteed encrypted credit card transaction processing, e-mail Notification system and UPS© online tracking of orders. We invite the public to visit our site http://www.thegems.com
Except for the historical information contained herein the matters discussed in this press release include forward-looking statements that may involve a number of risks and uncertainties. Actual results may vary significantly based on a number of factors, including, but not limited to, risks in product demand, the impact of competitive products and pricing, changing economic conditions, both Here and abroad, release and sales of new products, and other risk factors detailed in the Company's most recent annual report, and other filings with the Securities and Exchange Commission.
EOM------------------------------------------------------
Jim in CT .. |
