Thursday, 12th May 2005 (4340 views)

LJ International (LJI) has reported a 20 per cent rise in revenues in its first quarter results released today.

The firm is said to be one of the fastest growing jewellery companies in the world and believes the sharp rise in sales were due to higher orders, new markets and newly opened outlets.

Revenue reached $17.44 million during the period ending March 31st 2005 and gross profit reached $3.65 million.

The latest results show the fifth consecutive quarter in which LJI achieved a 20 per cent or more increase in sales.

LJI chairman and CEO, Yu Chuan Yih, commented: 'We are pleased to see another robust increase in sales, reflecting rising demand for our major customers in the US and abroad.

"We also see sales continuing to expand in our older markets, with no significant clouds on the horizon.'

LJI has now predicted second quarter revenues will reach around $17.5 to $18 million.

The company distributes to fine jewellers, department stores, national jewellery chains and electronic and specialty retailers throughout North America, Western Europe and China.

 

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