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LJ
INTERNATIONAL, INC., (NASDAQ/NM: JADE) |
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Dear Readers,
For
those of you among our readership following this interesting company
we have important news coming from LJ International Inc. (nasdaq:
JADE). This release signals two critical pieces of information
from JADE; earnings and a conference call.
As we
always try to give you the most information possible, especially
from the company itself, we felt it imperative to pass on this
data. If you are among our followers of JADE or perhaps just
heard about this intriguing leading jewelry manufacturer then
please review and take note of the information below.
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*
NEWS * FROM LJ INTERNATIONAL, INC. |
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Press Release
Source: LJ International
Inc.
LJ International
Announces Third Quarter
Earnings Release
Date and Conference Call.
HONG KONG,
and LOS ANGELES, Nov. 6 /PRNewswire-FirstCall/ -- LJ International
Inc. (Nasdaq: JADE - News), one of the fastest growing fine
jewelry companies in the world, today announced that it will release
its third quarter 2003 results on the morning of Thursday, November
13, 2003. The Company will subsequently conduct a conference call
at 11:00 a.m. (EST) to review the results and for a Q&A session.
The call will be hosted by Yu Chuan Yih, LJ International Inc.'s
Chairman and CEO, and Betty Ho, Vice President of Corporate Development.
WHAT: LJ International Inc. Third Quarter Earnings Conference
Call
WHEN: Thursday, November 13, 2003 -- 11:00 a.m. Eastern
Time
HOW: Live
via phone by dialing 877-407-8031, or 201-689-8031 for international
callers, and asking for the LJ International Inc. call. Please
call at least 10 minutes prior to the start time, or live over
the Internet by logging on to the Company's Website at www.ljintl.com
.
REPLAY:
A replay of the conference call will be available through November
20, 2003 and may be accessed by calling 877-660-6853, or 201-612-7415
for international callers. Enter passcode 1628 and confirmation
81705. An audio archive will also be available on the Company's
website at www.ljintl.com shortly after the call and will be accessible
for approximately 90 days.
RSVP: To
register for the call or to be added to LJ International Inc.'s
e-mail and/or fax investor distribution lists, please contact
Haris Tajyar, Managing Partner of Investor Relations International,
at htajyar@irintl.com .
About LJ International
Inc.
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.
For more information
on LJI, please visit the Company's Web site at 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 and other filings with the Securities
and Exchange Commission.
--------------------------------------------------------------------------------
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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CURRENT
CHART FROM BIGCHARTS.COM |
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SELECTED
FINANCIAL HIGHLIGHTS |
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Sector: Consumer Cyclical
Industry: Jewelry & Silverware
Recent Price: $4.75
Shares O/S: 8.67 million |
Mkt cap (as of 07/15/03): $36 mil
Float: 6.6 million shares
52 wk high-low: $5.00-$0.906
Trailing 12 mos. P/E ratio:
22.3 |
Fiscal YE: April 30.
Trf Agent: Computershare Services
Dividends: None |
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.
To view the SEC filings for LJ International,
click
here.
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CONTACT |
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Darren Barker,
Vice President and Group Manager at IRI, 818-382-9700
LJ International,
Inc.
1212, Block A, Focal Industrial Centre, 21 Man Lok Street Hunghom,
Kowloon, Hong Kong
Tel: (852) 2764 3622
Fax: (852) 2764 3783
To visit the LJ International Web site, click
here.
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