Lazare Kaplan Q3 Earnings Sliced
April 17, 07
Diamond firm Lazare Kaplan International said Monday its fiscal third quarter net income totaled $58,000, down from a profit of $510,000 one year ago. The drop in earnings comes on the backdrop of declining revenue.
Net income per share dropped to $0.01 from $0.06 per share during the same quarter a year ago.
Net sales for the quarter were $104.3 million compared to $157.9 million last year, a 34 percent decline. Gross margin was 7 percent compared to 5.6 percent.
The company pinned the decrease in sales on the transfer of some rough trading operations to a separate joint venture in the second quarter.