Hot Stock Alert - (NASDAQ:FUQI) Lifts Guidance, Shares Up

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Fuqi International, Inc. (NASDAQ:FUQI) soared 4.50% to $24.37 in opening trade after  raised its fiscal 2009 outlook and expects revenue of approximately $519.4-$528.4 million. These estimates include both wholesale and retail revenues and exclude the impact from any potential acquisitions and net income of approximately $53.5-$54.9 million, or diluted earnings per share (EPS) of $2.21-$2.27. For fourth quarter of 2009, it expects total revenue between approximately $182.0-$191.0 million, which includes wholesale and retail revenues and net income to be in the range of $15.2-$16.6 million, or $0.55-$0.60 per diluted share. According to Reuters Estimates, analysts were expecting the Company to report revenues of $184.6 million, net profit of $16.3 million and EPS of $0.59 for fourth quarter of 2009 and revenues of $525.4 million, net profit of $47.2 million and EPS of $1.94 for fiscal 2009.

Fuqi International, Inc. (Fuqi) is a designer of precious metal jewelry in China, developing, promoting, and selling a range of products in the Chinese luxury goods market. The Company’s products consist of a range of styles and designs made from gold and other precious metals, such as platinum and Karat gold (K-gold).