Israel-based diamond tech company Sarine has reported its Q2 2017 results: according to IDEX Online, revenues totaled $18.2 million, as compared with revenues of $16.3 million in Q1 . Net profit totaled $3.2 million in Q2, compared to $2.5 million in Q1.
Sarine contributed the rise to “the mix of Galaxy family systems delivered, nearly half of which were of various Galaxy models, as well as increased recurring revenues”. In Q2 2017 Sarine delivered “16 inclusion mapping systems, comprising 6 Meteor systems, 3 Solaris systems, 3 Galaxy systems, 3 Galaxy Ultra systems and a Galaxy XL system”.
On a year-over-year basis, however, the firm’s results were down, as Q2 2016 revenues totaled $20.9 million, profit from operations totaled $6.7 million and net profit totaled $6 million. According to the piece, “the year-over-year results were primarily impacted by lower sales, mainly due to the illicit competition in India and higher operating expense”.
Sarine added: “Research and Development expenses remained high, as we were bringing to fruition our new Clarity and Color grading technologies, as reported on 30 July, and adding significant capabilities to our Advisor planning software […] We expect R&D expenses to start coming down in H2”.
