Fuqi International flat despite Q4 profit jump
Shares of Fuqi International Inc. (Nasdaq:FUQI) are flat despite news before the start of trading that fourth-quarter profit nearly tripled. The Chinese designer of precious metal jewelry reported that net income for the three months ended Dec. 31, 2007, was $7.4 million, or $0.39 per share, an increase of 253% compared with earnings of $2.1 million, or $0.15 per share, a year earlier.
At 10:47 a.m. ET, the stock had declined $0.15, or 2%, to $7.13. For detailed price information and recent news stories about Fuqi International, click FUQI.
