Archive for the ‘BVI company financial guidance’ Category

BVI-based Pansoft Company announces the three-year growth strategy

Saturday, February 7th, 2009

BVI company Pansoft Company Limited, one of the leading enterprise resource planning software solutions and services providers for the oil and gas industry in China, has announced its three-year growth strategy, which was approved at its recent board meeting. It was stated by Mr Hugh Wang, Chairman of the board of the BVI company, that the company is experiencing continued growth despite the period of global financial crisis and recession in the world economy.

The recent previous board meeting of Pansoft Company was held on December 13, 2008. Then, a three-year budget and multi-year plan for business expansion of the BVI company were approved. Executing the growth strategy, Pansoft should quickly scale up in the coming years and emerge as the predominant software solutions and services provider in China’s management software market.

The BVI company is planning to expand through organic growth as well as mergers and acquisitions. Pansoft will focus on expanding its project scope and service offerings to the subsidiaries of its large clients. Additionally, leveraging its business model, the BVI company is planning to launch similar solutions and services outside of the energy industry. Also, in the current favorable price environment, Pansoft is actively seeking attractive acquisition targets, to enter another high growth industry through mergers and acquisitions.

As a part of new strategy, Pansoft went on public trading at NASDAQ on January 23. Company’s management has scheduled several conferences with investors and analysts in the U.S. from January 23 to January 30, 2009 to present its business strategies.

Posted in BVI Company projects, BVI Company strategy, BVI company financial guidance | No Comments »

BVI-registered LJI reports financial results for the third quarter and nine months of 2008

Thursday, December 4th, 2008

British Virgin Islands company LJ International Inc (LJI), leading jewelry manufacturer and retailer, reported financial results for the third quarter of 2008. The announced unaudited results for the period ended September 30, 2008, include reported revenues totaling $32.9 mln – that is down 12.7% from $37.7 mln in the third quarter of 2007. It was reported by the company that year-on-year revenue decline was primarily due to worsening economic conditions at the wholesale level, connected with a global slowdown in consumer spending. Net income of the BVI company for the third quarter of 2008 made $0.4 mln, or $0.02 per diluted share, – compared to $0.5 mln in the same period a year earlier.

LJI Chairman and CEO Yu Chuan Yih commented that the results showed how LJI has held its own in an increasingly harsh environment for consumer sales of luxury goods. He said it was expected that the U.S. will report little or no growth in GDP during the third quarter of the year 2008, which also reflects results from the wholesale division of the company. Despite adverse economic conditions, the ENZO chain of retail stores is continuing to report positive and improve financial results.

For the nine months ended September 30, 2008, LJI reported revenues of $94.4 mln, compared to $104.9 mln in the same period of 2007. The year-over-year drop of revenues was due largely to lower sales in the BVI company’s wholesale operations, reflecting the impact of a slowing world economy on consumer demand, particularly in the U.S. Also, net income for the first nine months of 2008 was $1.2 mln, or $0.05 per diluted share, compared to $2.3 mln, or $0.10 per diluted share in the first nine months of 2007.

The BVI company also published guidance for the fourth quarter and full year 2008, saying it expects revenues to range from $32 mln to $33 mln, compared to $47.1 mln a year earlier. For the whole year, the company expects to achieve revenues between $126 mln and $127 mln, compared to $152 mln in fiscal 2007.

Posted in BVI company financial guidance, BVI company interim financial results | No Comments »