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FUQI International, Inc. – Value – Zacks Rank Buy
Tracey Ryniec (October 12th, 2009) Writes:
FUQI International, Inc. (FUQI) has soared 96.7% since we last reviewed it as a value stock on June 3. Surprisingly, it still has attractive value characteristics though it's not nearly as cheap as it was in June.
FUQI designs luxury metal jewelry in China. The Chinese jewelry market continues to see strong growth despite the global recession.
Second quarter results, reported on Aug 6, easily beat the Zacks Consensus Estimate by 40.63%. It was the fourth quarter in a row that the company surprised on the Zacks Consensus Estimate.
The company is seeing actual strong organic revenue growth. Revenues rose 50.6% in the second quarter to $100.8 million from $66.9 million a year ago. Both the wholesale and retail segments contributed to the gain. The bigger wholesale segment grew 39.9% to $92.5 million in the quarter. Retail revenues jumped 10.2%.
Full Year Guidance Raised Again
The company is
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