JEWELMASTERS &lt;JEM> SEES NET BELOW ESTIMATES

  Jewelmasters Inc said it expects to
  report net income for the year ended January 31 20 to 25 pct
  below analysts' estimates of 1,750,000 dlrs or 95 cts per share.
      Jewelmasters sales sales for the year just ended were about
  52.5 mln dlrs. In the prior year it earned 1,650,000 dlrs on
  sales of 45.1 mln dlrs.
      Jewelmasters said net income for the year was hurt by
  disappointing sales in December and January, a high level of
  advertising spending in the fourth quarter, higher than
  expected opening expenses for 34 additional units and an
  adjustment to inventory associated with a shift to a more
  comprehensive inventory system.
      Jewelmasters said it expects to report audited results for
  the fourth quarter and year in about three weeks.
  

