Kingold Jewelry (KGJI) Reports Q4 EPS of $0.14 on Revenues of $631.2M

Kingold Jewelry (NASDAQ: KGJI) reported Q4 EPS of $0.14, versus $0.15 reported last year. Revenue for the quarter came in at $631.2 million, versus $657.1 million reported last year.

2018 Fourth Quarter Financial Highlights (all results compared to prior year period)

• Net sales were $631.2 million, compared to $657.1 million.
• Processed a total of 33.7 metric tons of 24-karat gold products, compared to 31.2 metric tons.
• Net income was $9.5 million, or $0.14 per diluted share, compared to $10.5 million, or $0.15 per diluted share.

Management Commentary

Mr. Zhihong Jia, Chairman and CEO of the Company, commented, "We are proud to have achieved all aspects of financial and operational growth for the year 2018 and surpassed our previously provided processing volume while gaining double-digit percentage growth in all indices. According to the World Gold Council, in 2018 the annual jewelry demand in China increased by 3% as the retail industry continued to expand and innovate. Based on the management's analysis on the gold market trend, Kingold intends to continue to expand market coverage by diversifying our sales channels for gold jewelry and investment products and continue to explore gold investment to further implement our strategic expansion. Meanwhile, Kingold expects to explore both upstream and downstream markets to optimally utilize resources within China's gold industry, thus to advance our Company's position as a leader in furtherance of the gold industry development, along with our peers."

Outlook for 2019

• The Company expects to process between 110 metric tons and 120 metric tons of 24-karat gold products in 2019.

For earnings history and earnings-related data on Kingold Jewelry (KGJI) click here.

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