2008年7月23日星期三
Chinese Jewelry Designer Gets Dolled Up For Nasdaq
According to Global Industry Analysts, China’s jewelry industry totaled $18 billion last year, up 35% from 2001. It is the third largest consumption item among Chinese, after automobiles and housing. By 2010, the country is expected to have the biggest jewelry market in the world.
Fuqi has taken advantage of this trend, achieving an average 57% annual sales growth rate in the last five years. So far it has sold its products wholesale to retailers and distributors. But now the company wants to open its own retail shops, and the U.S. initial public offering will help pay for it.
THE COMPANY
Fuqi was founded in 2001. It has built up a design database of over 20,000 products, mostly made from platinum, gold and other precious metals. Its wholesale markup ranges from 10% to 12%, which can climb as high as 30% by the time it gets to the consumer.
Not surprisingly, Fuqi would like more of that margin. Its retail plan is to open 20 counters and two stores this year and open 60 to 80 counters and eight to 10 stores next year. It also will shift its product line toward finished gemstone items. Historically, this hasn’t been a very big part of the business, but the firm says it has higher margins than the strictly metal pieces.
In November, Fuqi went through a reverse-merger transaction with visitalk.com, a firm in Chapter 11 bankruptcy. However, the deal does not seem to have left the firm with significant long-term debt.
RISKS/CHALLENGES
Investing in China isn’t for the risk-averse, as previous market tremors there this year have shown. As a highly discretionary item, jewelry is perhaps more vulnerable to economic fluctuations than most products.
Much of Fuqi’s working capital comes from accounts receivable, i.e., orders that have not been paid. Major defaults could seriously hurt the company’s cash supply.
Fuqi is vulnerable to commodity prices of the metals and gems it uses. Historically, it has not hedged against this, but it plans to do so in the future. The supply is also heavily regulated by the Chinese government.
It’s hard to tell how the retail strategy will work out, since the firm has never done it before. It also will need to expand geographically, since sales are now concentrated in a few northern provinces.
Fuqi has about $16 million outstanding in short-term borrowings.
THE RESULTS
Sales have ramped respectably in the company’s short life, totaling $92.4 million last year. In the first six months of this year sales gained 12% to $54.2 million, while net income rose 21% to $3.4 million.
USE OF PROCEEDS
Fuqi has not set terms for the offering, but it plans to spend the proceeds on expanding retail operations and product lines and for general corporate purposes.
THE MANAGEMENT
Yu Kwai Chong
President, chief executive, chairman
Founded the company and has headed it since 2001. Founded the first jewelry manufacturing and sales firm in Shenzhen over 20 years ago.
Ching Wan Wong
Chief financial officer and director
Joined in 2004 after two years as a tax consultant. Previously he served as finance director for MindShare China and Carat Media. He holds bachelor’s degrees from both the Chinese University of Hong Kong and Southern Queensland University.
Lie Xi Zhuang
Chief operating officer and director
Co-founded the company after seven years at Shenzhen Ping Shen Gold and Silver Jewelry Co. Holds a management degree from Hunan Xiang Tan University.
2008年7月21日星期一
Zale to close 60 underperforming stores
Zale Chief Administrative Officer Rodney Carter didn’t identify the stores, but said the Irving, Texas-based jeweler would be closing unprofitable Zales, Gordon’s Jewelers and Piercing Pagoda stores and “several dozen more” stores later this year.
Zale Vice President and Treasurer David Sternblitz told National Jeweler that the company is not planning on exiting any geographic markets and that “there is the potential that the people impacted get placed at other stores or other brands.”
Zale is one of many large retail chains to announce store closings following a dismal holiday shopping season.
In its earnings call last week, Zale reported same-store sales fell 9 percent in November and December, and total revenues for the two-month period were down 10.1 percent, from $804 million in 2006 to $723 million in 2007.
Speaking at the Cowen and Co. Annual Consumer Conference in New York, Carter also said Zale would cut capital spending from $100 million to $85 million.
Other retail stores to announce closings following weak holiday sales include home furnishings retailer Ethan Allen Interiors Inc., which is closing 12 stores; Liz Claiborne Inc., which is closing its 54-store Sigrid Olsen chain; and Macy’s Inc., which announced three days after Christmas that it was closing nine additional stores, various news sources have reported.
2008年7月16日星期三
Free LASIK Surgery for Iraq Bound Soldiers
Dr Joseph Russo and Dr. Jeffrey Russo completed the free treatment to pay their tribute to the nation. The soldiers and military officers are thrilled to receive the treatment before their overseas assignments. "This is just the best thing that could have happened," said Spec. Randall Bisset, a sniper and scout.
The Dello Russo Laser Visiona family=run business was established some 40 year ago. This is the first center in USA to offer bladeless LASIK surgery. Dr. Jeffrey informed that they have a number of patients in military and police forces. In that way, he feels great to serve the nation.
As part of the LASIK procedure, the soldiers went through the examination process where the Laser beam was used for less than half a minute. Minutes after the minimally invasive surgery, the soldiers wore dark sunglasses and rested for an hour. The LASIK surgery enables them to have 20/20 vision.
2008年7月15日星期二
LASIK Eye Surgery Pricing Review
Main Factors In LASIK Pricing:
The price of LASIK can vary considerably, depending on:
* The type of laser technology you choose.
* The type of surgical instrument used to create the corneal flap.
* Whether or not your pre-op exam and follow-up visits are covered.
* Whether or not your post-op medications are covered in the fee.
* Whether or not retreatments (if necessary) are covered in the fee.
* The skill, reputation, and experience of your surgeon.
* The community and area of the country you live in.
2007 LASIK prices:
Earlier this year, AllAboutVision.com commissioned a report by a leading refractive surgery industry analyst regarding 2007 pricing for LASIK surgery performed in the United States. Among the findings stated in the report:
* The average price for LASIK (and other laser vision correction procedures) among surgeons and laser vision centers who quote a single laser vision correction surgical fee (with no add-on charges for more advanced technology like IntraLase flaps and wavefront-guided laser treatment) is $2,099 per eye ($4,198).
* The average price for wavefront-guided LASIK combined with an IntraLase laser-created flap (often referred to as customized all-laser LASIK or custom IntraLASIK) is $2,357 per eye ($4,714).
* The average price for conventional LASIK combined with a bladed microkeratome-created flap is $1,694 per eye ($3,388).
TLC Vision Corp. and LCA-Vision, Inc. are two of the largest corporate laser vision correction companies in the United States. TLV Vision operates 80 TLC Laser Eye Centers in the U.S. and LCA-Vision operates 70 LasikPlus Vision Centers across the country. Both companies are publicly traded.
In its quarterly filings for the second quarter of 2007 ending June 30, TLC Vision reported $47.0 million revenue from 33,900 procedures, for an average procedure revenue of $1,386 per eye ($2,772).
In its quarterly report for the same period, LCA-Vision reported $69.7 million in revenue from 48,668 procedures, for an average procedure revenue of $1,423 per eye ($2,846).
Neither company's report included a detailed breakdown of how many of the procedures they performed during this period were conventional LASIK surgeries vs. wavefront-guided, all-laser procedures. (Also, average revenue per procedure may not accurately reflect the average price per procedure at LasikPlus and TLC Vision, due to delayed billing, financing, accounts receivable, etc.)
2008年7月14日星期一
Necklaces, most beautiful way to accessorize your neck
Necklaces is the most beautiful way to accessorize your neck. It is a symbol of past and they still are. Since the ancient civilization , wearing necklaces is a long tradition and used as amulet for protection. They used necklaces as a sign of their religion or cultural purposes
But right now, necklaces are now being used are more than just a fashion accessory to be trendy and fashionable. Now a days, there are kind of necklaces you choose from what kind of personality you like best. it is an ornament with big pendants and decent pearl necklaces, lockets, chains.
Necklaces can be fashionable and individual style choices should not be left out in selecting beautiful necklaces;whether choker shortest necklace at fourteen to sixteen inches long; princess necklace which is eighteen inches long; opera necklace; diamonds and gold necklaces; silver necklaces;and pearl necklaces
which is worn for special occasions. But, whatever material the necklace is made from, it is sure to be appreciated by its wearer.
Precious gems like emeralds, ruby, sapphires, topaz, pearls can also be placed in a necklace setting to give a sense of elegance to the user. The gemstone can come in all shapes and sizes,ranges and the necklace will give the background it needs to make things even more beautiful. You must be sure to choose the kind of gemstone necklaces that will surely bring many compliments from a friends and to complete strangers, and proud to wear of a gemstone necklaces for years to come.
Necklaces, bracelets, rings, pendants, and fine jewelry in designer jewelry
allow much of flexibility in designs and feature that will brings quality to fashion from around the world at various prices-from affordable to competitive prices. A complete sets of fine jewelry with the latest trends are available most websites .
Jewelry is mostly worn by women and it is the presence of every women, like the motto "Diamonds are girls best friends".
2008年7月13日星期日
Reading Glasses for Everyone
Don't confuse reading glasses with computer eyewear. If you're using reading glasses to try to view your computer screen, it's probably not working very well. Reading is done in your "near" vision, and computer work is done in your "middle" range vision. I don't know of any ready-made computer glasses as of yet. For now, I suggest you see your eye doctor and local Optician.
2008年7月10日星期四
Eyesight
The use of letters of incrementally smaller sizes to evaluate a person's eyesight began in the early 1800's. The measurement of visual acuity that is used most frequently is the Snellen fraction. It is named after Dutch Ophthalmologist Hermann Snellen who developed the classic letter chart in 1863. Since then, people have come to recognize that the Snellen fraction "20/20" means perfect eyesight.
Snellen determined the size of the letters on his test chart by comparing the eyesight of a large number of his patients with that of his assistant, who could see distant objects very clearly. (Historical accounts don't explain how Snellen knew his assistant had "perfect" eyesight.)
2008年7月9日星期三
Cover Girl Eyewear
Cover Girl Eyeglasses are designed for fashion conscious females looking for a contemporary yet classical look. Their frames are available in the same hues as the makeup palette offered by Cover Girl makeup products.
Marcolin is the licensed manufacturer of Cover Girl Eyeglasses.
Marcolin sells its products in more than 50,000 outlets in 80 countries. Founded in 1961, Marcolin is still controlled by the Marcolin family, but brothers Andrea and Diego Della Valle now own more than 40% of it.
Marcolin makes designer eyewear under its own Marcolin brands and through licensed brands such as Kenneth Cole (U.S. market only), Miss Sixty, Roberto Cavalli, and Timberland. Its Cébé subsidiary in France produces eyewear for athletes.
UK Eye Operation Patients in HIV & Hepatitis Alert
The eye patients seem to have a tough time as they are suffering from the fear of a deadly disease. One of the patients involved said: "I am devastated. I went into hospital for a minor routine operation and now I am living in fear of a deadly disease."
Health experts, on the other hand assure that the risk is law and that it is only a routine checkup. They have also set up an emergency helpline for patients to call if they have concerns. It can be added that six operations were done on June 11. All of them are informed. A registrar has been suspended so far.
The hospital authority believe at this stage that the lack of cleaning was an isolated incident but they will try to establish whether there is a problem with the system.
The eye hospital helpline will be open from 9am to 5pm today and over the weekend - 0161 276 5621
2008年7月7日星期一
LASIK Surgery Safe For Children
The study was done on 264 eyes of 264 patients. He said that the parameter of the study was the ability to wear spectacles, best corrected visual acuity, and the stability of the procedure.
Preoperatively about one third of the patients could see 20/100 or better and majority had of BCVA of less than 20/100.
But after LASIK they were able to achieve to 27% of corrected vision. That makes of 20/20. About half were able to see 20/40 and 2/3 were able to see 20/100. Most important thing was no one lost any BCVA rather the majority of patients gained lines.
According to him “"Stability was very interesting," Dr. Ibrahim said. "There was reasonable stabilization up to 3 years, and then when they reached the age of puberty and normal growth, there was additional regression up to 10 years."
The surprising fact of the stability of the patients having residual myopia was that the patients who have received over correction had less regression than compared to the patients who havn't received the operation.
Moreover he said that "Remember that pediatric LASIK is not to get rid of glasses. It's not to avoid the occlusion therapy, as most of the parents would love, and it's not to stop the progression of myopia. And definitely it's not for bilateral patients. It's only to help these poor patients to correct their anisometropia and help them to wear the spectacles
2008年7月6日星期日
Got Your Eye On An Iphone? Here's The Latest
Do you have your heart set on an iPhone? You may want to get in line now. A May poll by research firm M:Metrics revealed that about 19 million U.S. cell phone users are ready to fork over as much as $599 for the new iPhone. That’s almost what Bernstein Research predicts Apple will sell through 2008.
The new iPhone will go on sale June 29 and all indications are the demand will be huge. AT&T is hiring 2000 temporary workers to help with the launch. Apple CEO Steve Jobs has forecast sales of 10 million iPhones in the first 18 months –a conservative estimate based on independent research.
AT&T nabbed the iPhone exclusive early on. M:Metrics analyst Mark Donovan said "Two-thirds of the people who said they have a strong interest in buying an iPhone currently subscribe to AT&T's three biggest competitors." He added "In this mature market, it's all about stealing customers from competitors."
Even the hefty price tag – as much a $599 with a two year contract – does not seem to discourage potential buyers. It is still unclear what plan AT&T will require with the iPhone but you can be sure the lure of technology will overpower the fear of the unknown. Donovan noted that once the initial group gets its iPhones contract pricing may be a barrier to some buyers.
Because of the youthful demographic, T-Mobile customers seem to have the most interest in changing. According to the M:Metrics survey, 12.5% of T-Mobile subscribers expressed a high interest in buying the iPhone, compared to 8.1% for Sprint Nextel customers and 6.7% for Verizon users.
Here are a few iPhone shopping tips.
• Get your www.CellForCash.com transaction started right away. You can have your box by the time you get your iPhone and some cash in your pocket to help you get past the sticker shock.
• AT&T spokesman John Kampfe says "The iPhone will be available…only in AT&T-owned retail stores, Apple retail stores and through Apple's online store.” Check out Apple's online store on June 29. According to Steve Jobs the iPhone is set to go on sale at 6 p.m. that day. But forget trying AT&T's site; the company says it won't be selling iPhones online, at least initially.
• Call a few local AT&T stores and see if you can get on their waiting lists or if your local sales representative has any tips about how that particular store is handling requests.
• Show up early at an Apple store or company-owned AT&T store before they open on June 29. The big question is how many phones each store will stock.
• Wait until the June 29 launch mania dies down and hope that AT&T and Apple decide to allow locally owned AT&T agents to sell the iPhone.
AT&T Inc. has spent $50 million on its network in anticipation of the heightened activity expected to follow the iPhone's debut on the 29th, anyone willing to break their existing contract can expect to pat $175 on top of the cost of the new gadget.
Apple is hyping this product like no other and it’s far from over. Stay tuned for more info as we get it.
2008年7月3日星期四
CustomVue LASIK Approved for Farsightedness and Farsighted Astigmatism
The FDA approval is specifically for the company's wavefront-guided LASIK procedure. The enhanced CustomVue (TM) procedure involves detailed WaveScan (R) measurements of the patient's vision problems. These wavefront-guided measurements help provide a more precise and customized vision correction treatment than a standard LASIK procedure.
The FDA approval covers treatments of up to 3.00 diopters (D) of hyperopia without astigmatism and up to 2.00 D of farsighted astigmatism. (The Spherical Equivalent of a hyperopic prescription with astigmatism must not exceed +3.00 D.)
With this approval, VISX's CustomVue (TM) procedure becomes the first wavefront-guided laser treatment for hyperopia in the United States.
Colman Kraff, M.D., principal investigator with the VISX (R) multi-center clinical study, states, "VISX's new CustomVue Hyperopia procedure is a significant step forward in the treatment of farsightedness. The overall quality of vision with this new procedure is so superior that I plan to treat all of my qualified patients with CustomVue Hyperopia."
A six-month evaluation of clinical study participants showed that more than four times as many people were very satisfied with their night vision after the VISX CustomVue (TM) procedure for hyperopia when asked to compare it to their night vision with eyeglasses or contacts prior to the surgery. The VISX clinical study results also exceeded all of the FDA required parameters for safety and effectiveness.
Retinoblastoma Treatment
A lack of treatment would result in the probable death of the child, and naturally, this is not a common option. Depending on how early the retinoblastoma is diagnosed, the goal of treatment varies. Sometimes the goal is to save life. At other times, the considerations are more cosmetic such as preserving the appearance of the eye and face or perhaps more importantly, maintaining the vision in that eye or both eyes.
The most commonly used treatment for Retinoblastoma is called Enucleation. Enucleation is a procedure whereby the eye is surgically removed in order that the cancer itself can be removed. The child is put to sleep and the eye is then removed. The operation typically takes less than an hour to complete and is not painful. The areas surrounding the eye, such as brow and eyelid, are also not negatively affected.
Children who have undergone an enucleation frequently return home the same day. A ball of plastic or rubber is placed where the original eye was, in order that there is no cavity. After the eye socket heals properly, the child can then be examined for future cosmetic alterations to improve the look of the eye, which will at first appear not dissimilar to the skin underneath the lips.
The child can typically be considered for prosthesis three weeks after surgery. The prosthesis is made of a plastic substance and is designed by a technical artist to look exactly like the child's other, real eye. Because of the restrictions on muscle control, the eye does not move quite as naturally as a real eye would. Normally, these prosthetic eyes will move up and down fairly well but there may be some problems moving side to side. However this is purely cosmetic, as the eye does not do any 'seeing' for the child. As yet, there is no safe way to transplant or replace a real eye.
2008年7月1日星期二
Shopping For a LASIK Surgeon
In order to assess how extensive your doctor's experience is, ask him the duration of his or her practice in LASIK eye surgery, and how familiar he or she is with the different LASIK eye surgery techniques. Look for a doctor who has been performing the procedure for at least three years. This is usually long enough to demonstrate a solid reputation or a disastrous one.
There is also the question of the frequency of the LASIK doctor's operations. The doctor should have already performed this procedure enough times in the last few years that he is already well versed in modern procedures and technologies. If your doctor has done fewer than 500 operations during this time, perhaps you should consider another LASIK doctor.
Your LASIK surgeon should also be able to provide his or her success rate of his or her previous operations. Excellent LASIK doctors will almost always get an end result of at least 20/40 vision for their patients. You should note, however, that the aim of LASIK is vision correction, and not vision restoration. In other words, your eyes having 20/40 vision as an end result is already an achievement. Ask your doctor how many of his patients have achieved 20/40 vision after the first surgery. Your doctor might say that he or she has higher than 90% success rate of giving at least 20/40 vision to his or her patients; if this is the case, ask for proof. In addition, 50% of your prospective doctor's patients should have achieved 20/20 vision.
To gauge how much importance your doctor gives to his or her patients' health instead of their money, ask for examples of cases when he or she discouraged the patient from having the surgery, and why. Not everyone is eligible for LASIK eye surgery. Extensive examinations and tests must be done beforehand to determine if LASIK is applicable to the patient's eye problems.
A respected LASIK surgeon will not only have a good reputation, but also will walk you through the whole process, including all necessary pre-examination prior to surgery. This is paramount, considering the inherit importance of these types of surgeries. Your pre-exam appointment will consist of a Q and A, which should cover any issues you are concerned about. Interviewing other LASIK patients should give you a good idea of the quality of service you can expect. Believe it or not, there are LASIK offices that offer little or no post-operative care. This would obviously be a red flag.
Your prospective LASIK surgeon may also be able to recommend some financing options in order to deal with the costs that the operation may entail. It is important to note that some financing options may come at a high cost, that cost being in the form of high interest rates. Always look over the fine print when it comes to financing a LASIK procedure, or any thing, for that matter. If the doctor to whom you went to is open to these questions and entertains all of them, you may have gone to the right doctor to perform your LASIK procedure.