Sarin Turns to Profit in Q3

Israeli diamond tool maker Sarin retuned to profitability in the third quarter, posting on Monday a $423,000 profit on revenues of $6.3 million. The company suffered from three consecutive quarters of losses following the sharp drop in demand for diamonds in the consumer market.

The rise in income follows renewed manufacturing activity, mostly in India, the company reported. But while revenues rose by 71 percent compared to the preceding second quarter, they were still 28.5 percent below revenues generated in the third quarter of 2008.

For the first nine months of the fiscal year, Sarin posted a $3 million loss on revenues of $11 million.