LJ International - JADE - Q2 2005 resultaten
LJ Int'l 2Q Profit Falls 36 PercentThursday August 11, 10:35 am ET
LJ International Second-Quarter Profit Falls 36 Percent, Revenue Exceeds Internal Forecasts
LOS ANGELES (AP) -- Jewelry company LJ International Inc. said Thursday that its second-quarter profit fell 36 percent due to the opening of new retail stores, but revenue exceeded internal forecasts.
Quarterly income declined to $303,000, or 2 cents per share, from $474,000, or 4 cents per share, a year ago. Excluding expected startup expenses of about $300,000 for the company's Enzo retail store division, LJ International reported net income of $603,000, or 4 cents per share, for the latest quarter.
Revenue rose 17 percent to $19.1 million from $16.3 million last year on higher-than-expected demand from existing customers.
The company had forecast earnings per share of 2 cents to 3 cents for the second quarter on revenue of $17.5 million to $18 million.
LJ International expects gross margins, which were unchanged year-over-year at 24 percent, to improve significantly from higher margin sales from its Enzo stores.
The company forecast third-quarter earnings per share of 9 cents to 10 cents, including startup costs for more Enzo stores, on revenue of $23 million to $24 million.
LJ International shares rose 18 cents, or 7.1 percent, to $2.75 in morning trading on the Nasdaq. In the past few months, shares have fluctuated between a high of $3.72 in March and a low of $1.95 in May, and are down 6 percent so far this year.
LJ International Second-Quarter Profit Falls 36 Percent, Revenue Exceeds Internal Forecasts
LOS ANGELES (AP) -- Jewelry company LJ International Inc. said Thursday that its second-quarter profit fell 36 percent due to the opening of new retail stores, but revenue exceeded internal forecasts.
Quarterly income declined to $303,000, or 2 cents per share, from $474,000, or 4 cents per share, a year ago. Excluding expected startup expenses of about $300,000 for the company's Enzo retail store division, LJ International reported net income of $603,000, or 4 cents per share, for the latest quarter.
Revenue rose 17 percent to $19.1 million from $16.3 million last year on higher-than-expected demand from existing customers.
The company had forecast earnings per share of 2 cents to 3 cents for the second quarter on revenue of $17.5 million to $18 million.
LJ International expects gross margins, which were unchanged year-over-year at 24 percent, to improve significantly from higher margin sales from its Enzo stores.
The company forecast third-quarter earnings per share of 9 cents to 10 cents, including startup costs for more Enzo stores, on revenue of $23 million to $24 million.
LJ International shares rose 18 cents, or 7.1 percent, to $2.75 in morning trading on the Nasdaq. In the past few months, shares have fluctuated between a high of $3.72 in March and a low of $1.95 in May, and are down 6 percent so far this year.
posted at 1:05 p.m.
0 Comments:
Een reactie posten
<< Home