Sarine: Reports Revenue Of US$45.7 Million & Net Profit Of US$5.2 Million For 9M 2017.

14 Nov 2017 11:50

Recurring revenues remained stable and accounted for over 46% of 9M 2017 revenue. Sales programs utilising Sarine Profile continued to expand in the Asia Pacific region and North America. Demand for capital equipment weakened as diamond manufacturing activities slowed in Q3 2017 due to above average seasonal stocking of polished inventories. Balance sheet remained solid with short-term bank deposits, cash and cash equivalents totaling US$27.8 million and no debt. Following the launch of Sarine's new technologies for automated polished diamond Clarity and Colour grading in Q3 2017, issuance of grading reports and revenue contribution expected from Q1 2018...

More information available here.

Source: ShareInvestor Express