	jewelmasters jem sees net below estimates jewelmasters inc said it expects to report net income for the year ended january to pct below analysts estimates of dlrs or cts per share jewelmasters sales sales for the year just ended were about mln dlrs in the prior year it ed dlrs on sales of 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 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 reuter 
