Lazare Kaplan Profits Up, Although Rough Sales Are Down

Lazare Kaplan International says its earnings rose to $367,000 during the first quarter from a loss of $768,000 last earlier, as sales for the quarter rose to $54.1 million from $53.9 million.

Last year’s first quarter included an accounting charge of $972,000.

Revenue from the sale of polished diamonds was $32.5 million compared to $31.4 million last year. The diamond company says the increase in polished sales mostly reflects strengthening in consumer demand in the United States coupled with efforts by the it to expand product offerings and increase distribution resources.

Sales of rough diamond stood at $21.6 million compared to $22.5 million in the comparable period last year. The decrease is attributed to a decrease in supplies of rough.