Manufacturing Rebound Boosts Sarine Revenue

By Rapaport News / October 29, 2020 / www.diamonds.net / Article Link

RAPAPORT... Sales at Sarine Technology improved in the third quarter as diamond-manufacturing levels increased following a lockdown in India, the equipment producer reported Wednesday.Revenue rose 25% versus the previous quarter to $7.4 million in the three months ending September 30, reflecting an increase in diamond scans using its Galaxy machines, Sarine noted. However, the figure was still 48% below the $14.2 million of revenue Sarine recorded in the same period of 2019."Coupled with increases in polished-diamond prices on the back of renewed retail consumer demand, midstream manufacturers' margins have improved significantly," the Israel-based company said. "This has led to a further increase in polishing activity, which during October has fully recovered to pre-pandemic levels."The company incurred a loss of around $400,000 for the quarter, mainly due to taxes, though the loss was less severe than in the previous three months. The company made use of low-interest loans that the Israeli government guaranteed as part of its Covid-19 response.Image: A rough diamond in a Galaxy machine. (Sarine Technologies) 

Recent News

Copper market distortions driven by new US tariff policies

July 28, 2025 / www.canadianminingreport.com

Gold stocks up even as metal pulls back

July 28, 2025 / www.canadianminingreport.com

Gold stocks down as markets continue to new highs

July 21, 2025 / www.canadianminingreport.com

TSXV Top 20 Gold market cap shifts away from exploration

July 21, 2025 / www.canadianminingreport.com

Many new players enter TSXV gold Top 25 by market cap

July 14, 2025 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok