The Company noted that its fourth quarter financials benefited from a higher ENZO store count, increasing consumer acceptance of the ENZO brand and from a seasonal rise in gift-shopping for weddings and the Christmas season.
ENZO Continues to Drive Rapid Growth and Increased Profitability:
Yu Chuan Yih, Chairman and CEO of LJI, commented, "With the release of today's increased guidance, our shareholders will have a clearer view of just how successful our company has been over the past year. The fastest-growing part of LJI's business, our ENZO retail chain in China, continues to exceed all of our expectations. It is enabling the company as a whole to achieve a high double-digit annual growth rate while also significantly widening its gross and net margins."
"ENZO not only surpassed its target of having 40 stores open by the end of the year, but it has also reached store-level profitability at more than half of its locations. As a result, we expect to achieve another record year in 2007 in both revenues and earnings," concluded Mr. Yih.
LJ International Inc, USA
marketing@alchempro.com
