Lazare Kaplan Fiscal Q1 Sales Jump 45%

U.S. diamond firm Lazare Kaplan International reported a jump in first quarter fiscal 2005 net sales to $78.3 million, a 45 percent rise from $24.2 million a year earlier.

The increase reflects higher sales of both polished and rough diamonds, the firm said.

Net income for the current fiscal quarter was $2.5 million compared to $400,000 in the comparable prior year period.

Gross margin during the first quarter fiscal 2005 was $9.9 million, or 12.6 percent, compared to $6.1 million, or 11.3 percent, in the prior year period.