FUQI International Inc. (FUQI) reported that its third-quarter net income increased to $18.77 million or $0.73 per share from $6.52 million or $0.31 per share prior year.
On average, 7 analysts polled by Thomson Reuters expected the company to report profit of $0.44 per share for the quarter. Analysts' estimates typically exclude special items.
Net sales increased to $127.19 million from $93.68 million prior year. Analysts expected revenue of $130.32 million for the quarter.
For the fourth quarter, the company anticipates total revenue to be in the range of approximately $182.0 million-$191.0 million. Net income is expected to be in the range of $15.2 million-$16.6 million, or $0.55-$0.60 per share.
For the full year 2009, the company now expects full-year revenue of approximately $519.4 million-$528.4 million. The company also anticipates net income in the range of approximately $53.5 million-$54.9 million, or earnings per share of $2.21-$2.27.
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