Sarin Profits Climb 627% in 2010
February 24, 11
Sarin is a worldwide leader in the development, manufacturing, marketing and sale of precision technology products for the planning, processing, evaluation and measurement of diamonds and gems.
The company credited the improved full-year performance to renewed capital equipment expenditures across all markets and ongoing expansion of Galaxy inclusion mapping business.
In the fourth quarter, activities related to Galaxy contributed over 20 percent of Sarin’s revenue of $9.3 million. Net profit for the quarter is $1.3 million.
In its outlook for fiscal 2011, Sarin notes new service centers in additional diamond manufacturing centers and accelerated deliveries of Galaxy and Solaris systems will significantly boost the company’s recurring revenue base.
The board of directors has proposed to pay a fixed dividend of $0.01 per share every six months in the coming year.