LJI reports record revenue

LJ International Inc. on Thursday reported record second-quarter revenues of $25.95 million, up 36 percent from $19.08 million in the same period for the prior year. Net income was $630,000, up from $303,000 over the previous second quarter.

Revenues in the ENZO retail division were $2.69 million in the quarter, up 53 percent from the first quarter of 2006. The division’s net loss was $328,000 in the second quarter, down from $550,000 in the first quarter.

For the first six months of fiscal 2006, revenue was a record $50.10 million, up from $36.51 in the previous year. Net income for the six-month period was $952,000, up from $552,000 in the previous year.

The company expects continued growth in third quarter of 2006 with an annual
increase of 24 percent.

LJ International Inc. is based in Hong Kong and has its United States office in Los Angeles. The company, founded in 1987, markets its jewelry mostly under the Lorenzo brand name to retailers in North America and Europe. It also has a growing retail presence in China through its ENZO stores.