Sarine Delivers 20 Galaxy Family Inclusion Mapping Systems in Q2 2016
July 11, 16
(IDEX Online News) – Sarine Technologies Ltd, mainboard-listed on the Singapore Exchange has announced that it delivered 20 Galaxy family inclusion mapping systems in the second quarter of 2016.
The company said that the positive trends apparent in its first quarter results published in May recurred, with midstream profitability appearing to return in tandem with reduced rough prices, reduced polished inventories and overall stable demand for polished diamonds (except Hong Kong and Macau).
Sarine’s second quarter improvement was due to improved sentiment in the Indian diamond manufacturing industry, in particular. The company said that of the 20 Galaxy family inclusion mapping systems sold in the quarter, 10 were of the new Meteor model for small stones, 8 were Solaris systems and 2 were of the Galaxy Ultra model.
Sarine said that despite final numbers not being available for the quarter, it expects its revenues to exceed $20 million – a significant improvement on year-over-year and sequential bases.