kingold jewelry inc (KGJI) Snapshot

Kingold Jewelry, Inc. reported unaudited consolidated earnings results and operating results for the first quarter ended March 31, 2013. For the quarter, the company reported net sales of USD 221,408,122 compared to USD 224,967,394 a year ago. Income from operations was USD 4,906,579 compared to USD 10,116,154 a year ago. Income from operations before taxes were USD 4,145,553 compared to USD 10,005,018 a year ago. Net income was USD 3,033,630 compared to USD 7,314,012 a year ago. Diluted earnings per share were USD 0.05 compared to USD a year ago. Net cash provided by operating activities was USD 7,565,582 compared to net cash used in operating activities of USD 5,998,415 a year ago. Purchase of property and equipment was USD 20,409 compared to USD 1,476 a year ago. Book value per diluted share was USD 2.92 at March 31, 2013 compared to USD 2.97 at December 31, 2012. The first quarter of 2013, the company processed a total of 8.64 metric tons of 24-karat gold products compared to 8.84 metric tons processed in the prior-year period. Of the 8.64 metric tons processed during the period, Kingold's branded production accounted for 4.63 metric tons (53.6%) and customized production accounted for 4.01 metric tons (46.4%). The company reiterated production guidance for the year 2013 due to strong demand in second quarter. The company reiterates its expectation of processing between 50-60 metric tons of 24-karat gold products in 2013. This guidance is based solely on current projected, organic growth, and would represent a 32.3% to 58.7% increase from the 37.8 metric tons processed in 2012.

Kingold Jewelry, Inc. announced that they will report Q1, 2013 results at 5:00 PM, China Standard Time on May 15, 2013

Kingold Jewelry, Inc., Q1 2013 Earnings Call, May 16, 2013