Lazare Kaplan Q2 Net Sales $96.3 Million
January 12, 06
Lazare Kaplan International Inc. (LKI) today announced net sales for the three months ended November 30, 2005 were $96.3 million, as compared to $93.2 million in the comparable prior year period.
For the six months ended November 30, 2005 net sales were $235.1 million, an increase of $63.6 million or 37 percent over the comparable prior year period.
The DTC Sightholder lost $400,000 during the quarter, reducing H1 profits to $500,000. During the comparable periods last year, net income was $1.1 million and $3.6 million, respectively.
Gross margin during the quarter was $6.1 million, compared to $8.1 million in the prior year period. Gross margin for the first half of the year was $15 million, compared to $18 million in the prior year period.
The decrease in overall gross margin for the three and six months periods reflects a decrease in rough and polished diamond gross margins, together with a shift in the sales mix, with a higher percentage of revenue derived from rough diamond trading than in the comparable prior year periods, the company said in a release.