2005 Profits Leap 109% for Sarin Technologies
February 23, 06 by IDEX Online Staff Reporter
Diamond and gemstone production technology developer and manufacturer Sarin today announced record results for the year ended December 31. Revenue grew by 61 percent, while net profit rose by 109 percent to $9.4 million.
The main factors for Sarin's success were a change in product mix and higher productivity expanded gross margin to 68.5 percent and increased revenue from India, which leaped 79 percent to $23.5 million, the company said in a release today.
“Sarin’s strong business presence and consistent marketing efforts in India, the largest diamond manufacturing market in the world, were key factors in securing orders from new and existing customers for our expanding product range,” said CEO Zeev Leshem. “Furthermore, customer reception to the introduction of new Sarin products and services in 2005, including Facetware™ and the recently launched Quazer™ laser cutter, has been positive.”
The company predicts that overall industry trends will remain favorable in 2006. Emerging consumer markets in China and India should add to the global demand for diamonds. This demand, coupled with a tendency by diamond manufacturers to increase their use of automation to improve yield, is expected to lead to high demand for Sarin’s products and services.
Established in Israel 1988, Sarin develops, manufactures and sells precision technology products based mainly on automated three-dimensional geometric measurement (metrology) for the processing of diamonds.
