Sarin Q3 Sales up 34% to $8.4 Million
November 08, 10(IDEX Online News) - Diamond tool maker Sarin posted a 34.1 percent increase in sales in the third quarter, totaling $8.4 million, as manufacturers renewed their investments in diamond equipment. Net profit in the quarter was $826,000.
The revival in diamond polishing activity is clearly seen against recessionary period of 2009 when manufacturing was scaled back all around the world.
This is demonstrated in Sarin's results in the first nine months of the year, when revenues jumped 229.9 percent year-over-year to $36.4 million.
Profits in the three quarter period totaled $9.9 million, compared to a $2.9 million loss in 2009.