FUQI International, Inc. (FUQI) Reports 253% Increase in Second Quarter Net Income, Raises Guidance

FUQI International, Inc. (FUQI), a designer and manufacturer of precious metal jewelry in China, reported second quarter financial results this morning. Revenues rose 154% year over year to $66.9 million, compared to $26.3 million. The one analyst that covers the company expected revenues of $62.8 million. Net income surged 253% to $5.3 million, or 25 cents per share, vs. $1.5 million, or 10 cents per share, for the same period last year. The analyst was expecting earnings of 20 cents per share.