LJ International, Inc. (MM) (NASDAQ:JADE)
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LJ International Announces $6 Million Contract With Major U.S.
Jewelry Chain
HONG KONG and LOS ANGELES, April 6 /Xinhua-PRNewswire-FirstCall/ -- LJ
International, Inc. (LJI) (NASDAQ:JADE), one of the fastest-growing jewelry
companies in the world, today announced that it has signed an agreement with
one of the leading U.S. jewelry chains to market birthstone-based jewelry
lines. The program is expected to add about $6 million in new sales in 2005 and
2006.
The program calls for the chain, unnamed in this release for competitive
reasons, to launch different LJI-produced jewelry each month based on that
month's birthstone. The expected two-year sales figure is in addition to LJI's
current sales forecasts, and the program will be continued past 2006 if
customer response warrants.
'Our new birthstone program demonstrates how LJI is continuing to market its
products aggressively and effectively in its oldest and largest market, the
U.S., while expanding into new, faster growing markets, such as China,' said
LJI Chairman and CEO Yu Chuan Yih. 'Through this and other initiatives, we
are continuing the robust sales expansion of 2004, when our revenue from the
U.S. alone rose 31% year-over-year to $56.2 million.'
LJI recently reported overall sales of $77.4 million in 2004, an increase of
33% over 2003. Net income in 2004 was $2.7 million, or $0.22 per fully diluted
share, up 16% from $1.8 million, or $0.19 per share, in 2003. The Company has
forecast revenue between $14.5 million and $16 million in the first quarter of
2005, ending March 31, with EPS of $0.03.
If you would like to be added to LJI's investor email lists please contact
Haris Tajyar with Investor Relations International at .
About LJ International
LJ International, Inc. (LJI) is a publicly-owned company, based in Hong Kong
and the U.S., engaged in designing, branding, marketing and distributing a full
range of jewelry. It has built its global business, currently one of the
fastest-growing in the jewelry industry, on a vertical integration strategy and
an unwavering commitment to quality and service. LJI 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 incorporate all major categories sought by major retailers, including
earrings, necklaces, pendants, rings and bracelets. It trades on the Nasdaq
National Market under the symbol JADE.
For more information on LJI, go to its 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 and other filings with the Securities and Exchange
Commission.
For further information:
AT LJI:
Betty Ho,
Vice President, Corporate Development
Tel: +852-2170-0001
Email:
AT INVESTOR RELATIONS INTL:
Haris Tajyar,
Managing Partner
Tel: +1-818-382-9702
Email:
DATASOURCE: LJ International, Inc.
CONTACT: Betty Ho of LJI, +852-2170-0001, or ; or Haris
Tajyar of Investor Relations Intl, +1-818-382-9702, or , for
LJI
Web Site: http://www.ljintl.com/