LJ INTERNATIONAL, INC., (NASDAQ/NM: JADE)

Dear Reader,

What’s in a name? We think we know...with a little help from Dow Jones.

What we do know for sure is that LJ International (Nasdaq/NM: JADE) has announced a $500,000 order from the “largest U.S. retailer.”  The retailer, says the release, cannot be named due to “competitive reasons.” 

An October 9 Dow Jones Business News story stated that Wal-Mart Stores Inc. (NYSE:WMT) , which had $245 billion in sales in 2002, is the largest retailer in the U.S.  No genius required to solve this mystery.

We also want to note that while writing this very piece, JADE announced yet another deal in the works, this time the agreement is worth in excess of $600,000 and its with the second largest electronic retailer in the U.S. (think infomercials and cable TV networks).  Now that’s a lot of jade!

Read this fantastic news story below and Click Here to read our initial profile (Oct. 3, 2003) on this fast-charging company.
 

* NEWS * FROM LJ INTERNATIONAL, INC.

Press Release
Source: LJ International Inc.
Friday October 10, 9:01 am ET 

HONG KONG and LOS ANGELES, Oct. 10 /PRNewswire-FirstCall/ -- LJ International Inc. (Nasdaq: JADE - News), one of the world's fastest-growing fine jewelry companies, today announced that it has received an order for 50,000 pieces of jewelry, totaling $500,000, from largest U.S. retailer. LJI expects its orders with this retailer will continue to grow in the foreseeable future, particularly as it continues its expansion into the Chinese market, where it already has 29 stores in operation. The customer, whose name cannot be disclosed for competitive reasons, recorded over $247 billion in annual sales for its most recent fiscal year on over $8 billion in earnings.

Today's announcement follows closely on yesterday's news that LJI expects its third quarter revenue and earnings to grow by a minimum 21% and 159%, respectively, year-over-year. The significant increase is partially due to recent new customer relationships, including a contract of approximately $800,000 in initial orders from the third-largest U.S. home shopping network. The Company reported those orders on September 22, 2003. In August, LJI reported that it had just received over $600,000 in initial orders from the second largest electronic shopping channel in the U.S. The Company now sells to the three largest electronic shopping channels in the U.S.

Betty Ho, Vice President of Corporate Development, said, "LJ International's growing pipeline of increasing orders from Fortune 100 companies are another sign of the company's success in both expanding its range of distribution channels and generating additional revenue from existing ones. We are especially encouraged to see increasing interest in our product lines from this particular retailer, which sets the pace for attracting value- focused customers in the U.S. and worldwide. Its enormous reach and selling power are capable of introducing LJI products to millions of consumers we may not have been able to reach before. Our relationship with them will also pave the way towards our penetration of the Chinese market via the mega-retailers."

About LJ International

LJ International Inc. is a publicly-owned company engaged in designing, branding, marketing and distributing a full range of fine jewelry, which has been built on a vertical integration strategy and an unwavering commitment to quality and service. LJ International distributes mainly 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 incorporate all major categories sought by major retailers, including earrings, necklaces, pendants, rings and bracelets.

To be added to LJ International's investor lists, please contact Haris Tajyar at 818-382-9702 or via e-mail at htajyar@irintl.com.

For more information on LJI, please visit the Company's Web site at http://www.ljintl.com.

Forward looking statement: Except for the historical information, the matters discussed in this news release may contain forward-looking statements, including, but not limited to, factors relating to future sales. These forward-looking statements may involve a number of risks and uncertainties. Actual results may vary significantly based on a number of factors, including, but not limited to, uncertainties in product demand, the impact of competitive products and pricing, changing economic conditions around the world, release and sales of new products and other risk factors detailed in the company's most recent annual report. 

Source: LJ International Inc.
 

LJ International Inc. (JADE) is a vertically integrated company employing approximately 2,000 people. The company designs, brands, markets and distributes a complete range of fine jewelry. While it specializes in the semi-precious jewelry segment, JADE also offers high-end pieces set in yellow gold, white gold, platinum or sterling silver and adorned with semi-precious stones, diamonds, pearls and precious stones.  JADE distributes its products mainly to fine jewelers, department stores, national jewelry chains and electronic and specialty retailers throughout North America and Western Europe.

Selling approximately two million pieces of jewelry each year, JADE recently booked $15 million in early orders for Christmas 2003 at June's Jewelry Manufacturing Show in Las Vegas.  JADE also had phenomenal success as it was featured in September at the Hong Kong Jewelry and Watch Fair  and at the International Jewelry Show in China.  The overwhelming reception at these two shows is further affirmation of the Company's strategic goal to expand into the massive Chinese market.
 
 

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SELECTED FINANCIAL HIGHLIGHTS

For the comparable six months ended 6/30/03, revenues rose 13% to $22.8 million. Net income totaled $519 thousand, vs. a loss of $7.8 million. Results reflect the acceptance of new products, and improved efficiencies. (Multex) 

In August, the company reported a 22.8% year-over-year increase in Q2 revenue and a Q2 net income of $0.02 per share, a $0.91 year-over-year improvement and is now beginning to realize profit growth as the result of its cost-cutting efforts and other operational improvements made over the past two years.

Foreign exchange considerations have not had a significant impact on LJI's earnings as all of its sales are conducted in U.S. dollars and wages are mostly paid in Chinese Renminbi. LJI's strategic Hong Kong and Chinese mainland locations enable the company to enjoy tax advantages as well as labor cost savings.

CONTACT

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