LJ Intl.’s FY Sales +30%, Profit -22%

LJ InternationalLJ International reported fiscal-year 2011 operating revenue of $182.2 million, a year-on-year increase of 30 percent for the period that ended on December 31. Cost of goods sold rose 13 percent to $92.7 million. Wholesale revenue increased 12 percent to $69.4 million, but retail sales surged 44 percent to $112.8 million in large part due to its ENZO retail chain expansion in China. Profit fell 22 percent to $10.1 million, however, net income attributable to shareholders plunged 72 percent to $3.7 million or 7 cents per share.

By region, revenue rose 17 percent year on year from both the U.S., at $49.5 million and Canada, at $3.3 million. Sales from Europe and other countries slid nearly 5 percent to $15.9 million, while Japan’s sales were baiscally flat at $1.3 million. LJ International’s main source of revenue comes from Mainland China, Hong Kong and Macau, where sales jumped 44 percent year on year to $115.2 million.

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