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Diamond Manufacturing Revival Lifts Sarine Sales
May 9, 2016 8:20 AM
By Rapaport News
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RAPAPORT... Sarine Technologies reported a recovery in quarterly revenue
and profit as diamond manufacturing levels increased.
The company, which sells technology to the diamond industry,
said revenue jumped 27 percent to $15.5 million in the first quarter that ended
March 31. Profit more
than tripled to $3 million as the
large sales jump outweighed modestly higher costs and expenses.
The result follows a 45-percent
fall in revenue and an 87-percent dive in profit in 2015 as manufacturing
levels fell.
The return to profitability for diamond manufacturers in the
first quarter drove higher manufacturing activities and renewed investments in
equipment, the company explained. Diamond manufacturing equipment sales surged
about 50 percent, the company pointed out, primarily from its Galaxy family of
inclusion mapping systems, especially in India. The Indian market, by far the
largest source of revenue, saw sales jump 39 percent.
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Tags:
Israel, Manufacturing, Rapaport News, Sarine, Sarine Technologies, Singapore, technology
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