China Jewelry Stock - LJ International (JADE) Continues its Run Today

LJ International JADE has been on a tear recently. It reached a 52 week high yesterday, up 8%, and it is up again today, at $4.36 up .182 (4.35%) on 3 x average volume. LJ International JADE is an integrated jewelry manufacturer, and worldwide wholesaler based in Hong Kong. They have a network of retail stores in China. They exclusively retail only in China under the Enzo brand name. Most of their wholesale business is in the U.S and world wide. The stock traded as high as $13 before the financial crisis. It still may have a long way to run, if growth in China continues. Shares of LJ International JADE traded near a new 52-week high yesterday of $4.44. Approximately 1.7 million shares traded hands yesterday vs. average 30-day volume of 197,000 shares. LJ International Reported a 47% Rise in Sales and EPS of $0.09 in Second Quarter of 2010 on August 9, 2010. Here are some quotes from the earnings press release: “LJ International Inc. (LJI) JADE today reported that its revenues in the second quarter ended June 30, 2010 rose 47% year-over-year to $33.0 million. Net income was $2.3 million and earnings per fully diluted share rose to $0.09 from $0.01 in the second quarter of 2009." "The Company, which designs, manufactures and distributes jewelry to retailers worldwide and owns and operates the ENZO retail jewelry stores in China, said revenue growth was strong in both retail and wholesale operations." "Sales at LJI's ENZO retail division continued their rapidly rising trend from recent quarters. ENZO revenues in the second quarter of 2010 totaled $16.7 million, up 57% from a year earlier. A total of 108 ENZO stores were in operation at the end of the second quarter.” Revenue Seen Rising 30% in Q3 to $34 Million." Jade issued guidance for the 3rd quarter in the release: “In guidance for the third quarter ending September 30, 2010, the Company projects revenues of approximately $34 million, which would be approximately 30% above the $26.2 million reported in the third quarter of 2009. By segment, the projected year-over-year revenue increase would be approximately 55%, to $18 million, for retail, and approximately 9%, to $16 million, for wholesale." "Excluding an expected one-time gain of about $1.6 million due to a gain on sale of investment property, projected EPS in the third quarter of 2010, fully diluted, is expected to be approximately $0.09." Don't look for earnings to come out early in the season. They usually report late. I know, I'm a long term holder of the stock.