LJ International Reports Nearly $1 Million in New Orders from Major U.S. Retailer
October 11 2005 - 11:00AM
PR Newswire (US)
Company Will Produce Approximately 40,000 Pieces for Christmas and
Valentine's Day; Customer has been Significant Factor in Company's
Recent Sales Growth in the U.S. HONG KONG and LOS ANGELES, Oct. 11
/Xinhua-PRNewswire-FirstCall/ -- LJ International, Inc. (LJI)
(NASDAQ:JADE), one of the fastest-growing jewelry companies in the
world, today announced that it has received two orders totaling
over $950,000 from a major global retailer for jewelry items to be
sold during the Christmas and Valentine's Day shopping seasons.
Revenue from both orders will be booked by the end of 2005. The
Christmas season order is for about 20,000 pieces at a total of
approximately $500,000. It is being booked in the third quarter
ending September 30, 2005 since it was received towards the end of
the month. The Valentine's Day order, also for about 20,000 pieces,
totals approximately $450,000, to be recorded in the fourth quarter
ending December 31, 2005. The retailer, unnamed in this release for
competitive reasons, operates globally as one of the largest
retailers of general merchandise, in both conventional and
discount-warehouse formats. During 2004, its orders from LJI rose
60% from the year before, placing it among LJI's top four customers
in less than two years of becoming a customer. LJI Chairman and CEO
Yu Chuan Yih commented, 'As these new orders suggest, LJI remains
on a solid growth track in both its wholesale and retail business
lines. As sales ramp up at its new China retail unit, ENZO, it is
also seeing robust growth in its traditional core business of
selling to retailers, particularly in the U.S. It is particularly
gratifying that these new orders have been placed by one of our
newer and very prominent retail customers. Our sales to this
retailer were a strong factor behind our 33% rise in revenue last
year; today's announcement is a sign that this new relationship has
staying power and, we believe, potential for continued growth.'
About LJ International LJ International, Inc. (LJI) is a
publicly-owned company traded under (NASDAQ:JADE), 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 its ENZO
stores. Its product lines incorporate all major categories sought
by major retailers, including earrings, necklaces, pendants, rings
and bracelets. For more information on LJI, go to its Web Site at
http://www.ljintl.com/ . If you would like to be added to LJI's
investor email lists please contact Haris Tajyar with Investor
Relations International . 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: AT INVESTOR RELATIONS
INTL: Betty Ho Haris Tajyar Vice President, Corporate Development
Managing Partner Tel: 011-852-2170-0001 Tel: 818-382-9702 Email:
Email: DATASOURCE: LJ International, Inc. CONTACT: Betty Ho of LJ
International, +011-852-2170-001, or ; Haris Tajyar of Investor
Relations Intl, +818-382-9702 or , for LJ International Web site:
http://www.ljintl.com/
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