LJ International, $3.13, symbol JADE on Nasdaq (Shares outstanding: 26.7 million; Market cap: $95.7 million; www.ljintl.com), designs, markets and distributes a wide range of jewellery.
The company distributes its products to fine jewellers, department stores, national jewellery chains, and specialty retailers throughout North America and western Europe. It also sells jewellery in China through its ENZO stores.
In the three months ended March 31, 2011, LJ’s revenue rose 61.6%, to $43.4 million from $26.9 million a year earlier. Revenue from LJ’s retail (ENZO) division rose 69%, to $27.8 million. Wholesale revenue rose 49%, to $15.6 million. Earnings per share rose 50%, to $0.12 from $0.08.
LJ recently raised $41.4 million in a share issue. It will use these funds to continue the rapid expansion of its ENZO chain in China. The company now operates 156 ENZO stores, up from 138 on March 31, 2011. It plans to have 200 stores open by the end of this year.
LJ aims to focus on…
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