LJ International (ticker: JADE), which is engaged in designing, branding, marketing and distributing
a full range of jewelry, reiterated its earlier revenue and
earnings guidance for Q4.
It also gave an update on its fast-growing China division.
JADE, based in Hong
Kong and the US, distributes
to fine jewelers, department stores, national jewelry chains and electronic
and specialty retailers throughout North America and Western Europe, with a
growing retail presence in China through stores and e-shopping sites. Its
product lines include earrings, necklaces, pendants, rings and bracelets.
Guidance for Q4:
- For Q4 2004, JADE said it expects revenue to total
between $22 and $24 million with earnings per fully diluted share of $0.05.
- This would represent a sales increase of 19% to 30% over the fourth quarter of
- For FY 2004, JADE projects revenue between $74 and $76 million,
which would represent a 28% to 31% gain above sales for 2003.
- It expects
earnings per fully diluted share in 2004 to be approximately $0.22,
representing a 17% increase over last year.
China expansion update:
- JADE is growing through its own retail outlets, and supplier
relationships with China's leading retailers.
- Partners include the multinational retailer Carrefour, and China Commerce Group,
operator of several retail outlets including the upscale "China Friendship
Shops", Hualian department stores and Juntai department stores.
- JADE's first China store, a 5,000-square-foot upscale outlet in Hong Kong's
jewelry district, opened last March and is already profitable.
- In Shanghai, JADE followed its initial opening in November 2004 with a second
store. With sales in Shanghai strong after just two months, JADE now plans to
open a third store in that city by the end of March.
- JADE expects to open 10 new stores in 2005.