LJ International (JADE) Reiterates Guidance, Highlights Company Expectations

QualityStocks would like to highlight LJ International Inc. (NASDAQ: JADE). LJ International is engaged in the designing, branding, marketing, and distribution of a full range of jewelry through its ENZO stores in China, distributing to fine jewelers, department stores, national jewelry chains, and electronic and specialty retailers throughout North America and Western Europe. It has built its global business on a vertical integration strategy and an unwavering commitment to quality and service.

In the company’s news Friday,

LJ International reiterated its fourth-quarter guidance for the fiscal year ended December 31, 2010.

The company expects revenues to total approximately $42.5 million in the fourth quarter, an 8 percent increase from the year prior. LJ International said it expects fourth-quarter net income of approximately $3.8 million, or $0.13 per fully diluted share, up 44 percent on a per-share basis from a year earlier.

Based on its projected fourth-quarter results, full-year total revenues are expected to be nearly $138 million, with net income from operations (excluding the gain from the sale of investment property in the third quarter of 2010) totaling approximately $11 million, or $0.41 per fully diluted share, an increase from net income of $3.7 million, or $0.15 per fully diluted share, in 2009.

LJ International chairman and CEO Yu Chuan Yih said the company’s financial position is indicative of its operational and expansion plans.

“LJI’s financial results for the year to date are on track with the company’s plans,” Yu Chuan Yih stated in the press release. “We are affirming guidance for earnings from operations for 2010 as we continue to roll out our execution strategy for ENZO retail stores. We anticipate that by the end of the fourth quarter 2010, LJI could reach up to 135 ENZO stores across China. On the wholesale side, as mentioned during our third quarter 2010 earnings call, consistent sales figures over the past few quarters indicate a stabilization in the global consumer sector. Furthermore, LJI’s wholesale division maintains its ‘blue chip’ customer base and is proud to have continued all wholesales relationships throughout recent economic times.”

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Forward-Looking Statement:
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.