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LJ International Reports Solid Earnings, Revenue Up 15% YoY
LJ International Reports Solid Earnings,  Revenue Up 15% YoY
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LJ International Reports Solid Earnings, Revenue Up 15% YoY
LJ International Inc. (NASDAQ: JADE) reported Q4 EPS of $0.14, vs. the consensus estimate for $0.13 per share. Revenue for the quarter was up 15% year-over-year to $45 million, beating the consensus estimate for $42.5 million. LJI Chairman and CEO, Yu Chuan Yih said, "LJI’s latest financials reflect the major acceleration of ENZO store openings. In 2008, ENZO underwent an evaluation phase to better streamline operations and increase efficiencies. Starting in Spring 2010, LJI's ENZO retail division resumed its rapid expansion plan. By year-end 2010, a net total of 38 new locations were opened, bringing ENZO's total count to 133 stores. Retail revenues have increased accordingly. A gratifying outcome is reflected in greater retail operating margins and profits as well as companywide net income. New retail stores are quickly reaching profitability and contributing to the sharp improvement in LJI's overall operating results." Shares of LJ International are trading up 7.57% at $4.12.
Channel: Voxant Newsroom
Category: Business
Video Length: 0
Date Found: March 29, 2011
Date Produced: March 29, 2011
View Count: 0
 
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