asker,
PR regarding earnings on AMJY:
American Jewelry Corp. Reports Results For the Nine Months Ended September 30, 2000
/FROM PR NEWSWIRE 800-682-9599/
TO BUSINESS AND RETAILING EDITORS:
American Jewelry Corp. Reports Results
For the Nine Months Ended September 30, 2000
NEW YORK, Nov. 15 /PRNewswire/ --
American Jewelry Corp. (OTC Bulletin Board: AMJY), a premier designer,
manufacturer and distributor of fine jewelry, today reported results for the
third quarter ended September 30, 2000.
For the nine months ended September 30, 2000 net sales were $8,185,985
versus $3,650,994 for the nine months ended September 30, 1999. The increase
is primarily due to the increase in the recognition of sales that were shipped
in 1999 but recognized in year 2000 as per certain GAAP and SEC requirements
and, as a result of the broadening of our product line. Gross profit
increased to $2,253,531 in 2000 from $912,748 in 1999 and Income from
operations increased to $563,043 from a loss of $2,825,653 for the respective
nine month periods.
Isaac Nussen, President and CEO, stated, "We have made significant strides
in a return to profitability and restoration of stockholders' equity during
the first nine months of 2000. We are looking forward to continued growth and
increased profits through the end of this year and into 2001."
AMJY, a Delaware Corporation, is a jewelry designer, manufacturer and
distributor. The Company's product line includes a wide assortment of
14-karat gold jewelry along with the newly added diamond, pearl and platinum
jewelry lines.
This press release contains forward-looking statements made pursuant to
the safe harbor provisions of the Private Securities and Litigation Reform Act
of 1995. Expression of future goals and similar expressions reflecting
something other than historical fact involve risks and uncertainties.
The actual results the Company achieves may differ materially from any
forward-looking statements due to such risks and uncertainties.
SOURCE American Jewelry Corp.
/CONTACT: Tim Matula, Investor Relations, 425-836-9035, orMatula@cnw.com, for
American Jewelry Corp./
/Web site: amjyinvestor.com
Nov-15-2000 13:29 GMT
Symbols:
US;AMJY
Source PRN PR NewsWire
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