Rande... here is a sleeper you might like. LOW float (6,147,000), P/E 6.47, EPS .86, Avg. Vol. 27,000. WEB SITE ANY DAY NOW. OLD symbol,JADEF(NASDAQ) NEW SYMBOL, JADE (NASDAQ). Has been trading in the $5.50 range for about a month now. COMPANY DESCRIPTION:
At LJ International, gems and jewelry are a state of "mined." The company
cuts and polishes gemstones from mines in Africa, Asia, and South America
and uses them to manufacture jewelry. Founded by Chairman and CEO Lorenzo
Yih, LJ International sells its baubles through fine jewelers (Ben Bridge,
Carlisle), national jewelry chains (Sterling, Helsberg Diamonds), department
stores (Macy's, JCPenney), and home shopping networks (QVC). The company
focuses most of its marketing on North America, which accounts for 900f
its sales. LJ International completed its second manufacturing facility
in China in 1998 and is working to increase European sales.
OLD PRESS RELEASE ON WEB SITE BELOW. For more recent news :http://quicken.aol.com/investments/quotes/?defview=FULL&symbol=JADEF
HOLDING 2000@$5.56
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( BW)(NY-LJ-INTL)(JADEF) LJ International Announces Plans to
Launch Internet Commerce Site Selling Branded, Natural Gem Stone,
Jewelry
Business Editors
HONG KONG and NEW YORK--(BUSINESS WIRE)--Feb. 5, 1999--LJ
International, Inc (NASDAQ/NMS: JADEF) will commence operation of an
e-commerce web site early in their next fiscal year, starting May
1, 1999.
Chairman Yu Chuan Yih stated, "The Company has spent 12 months
planning its proprietary web site utilizing the input of two
internationally acclaimed web site design firms."
Mr. Yih further stated, "The Company opened a second 80,000
square feet manufacturing plant in mainland, China earlier this year
in preparation for our e-commerce site. The Company has increased the
number of skilled manufacturing employees from 1,100 to over 2,500
since the opening of the second manufacturing facility." Forrester
Research Institute (NASDAQ: FORR) estimates retail e-commerce will
grow to $108 billion in 2003 from $7.8 billion in 1998. LJ
International's sales increased 107% to $14,073,000 in the first 6
months and earnings increased 72% to $1,990,000. "We feel the Company
now has the manufacturing capacity to grow to $65,000,000 in sales and
Internet sales have the potential to further accelerate the Company's
rapid growth rate.
"LJ International is one of the world's few totally integrated
custom jewelry manufacturers. The Company buys raw gem stone material
from select mines around the world and cuts all of the gemstones used
in the manufacturing of its jewelry. This total integration of the
jewelry manufacturing process gives the Company a unique marketing
edge and excellent quality control." The company will market the
recently announced line of branded, sterling silver, gem set jewelry,
in addition to its gold and platinum colored gem stone jewelry on the
web site.
--30--lp/ny* csm
CONTACT: LJ International, Hong Kong
Yu Chuan Yih, 011 852 2764 3622
Lorenzo@ljinc.com
ljinc.com
or Investor Relations:
Financial Broker Relations
Michael Fearnow, 409/597-7500
mfearnow@bigfoot.com
KEYWORD: NEW YORK
INDUSTRY KEYWORD: INTERACTIVE/MULTIMEDIA/INTERNET
COMPUTERS/ELECTRONICS COMED RETAIL
(c) 1999 Business Wire. All reproduction, other than for an individual
user's reference, is prohibited without prior written permission.
(c) 1999 Business Wire
Author not available, LJ International Announces Plans to Launch Internet Commerce Site Selling Branded, Natural Gem Stone, Jewelry. , Business Wire, 02-05-1999.
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