Israeli diamond tech company Sarine Technologies earned $15.6 million in the first quarter of 2022 – a decrease of 9.9% compared with its “exceptionally strong first quarter of 2021,” according to a statement by the company quoted by Rough & Polished.
Trade of rough and polished diamonds-related revenues accounted for 11.6% of overall revenues. Net profit was just under $3.4 million.
According to Sarine, Sanctions on Russian rough diamonds have not led to “any meaningful decrease in Galaxy®-family scanning activity in April, as compared to the scanning activity in the first quarter.” The company added that “as of this writing, we have not seen any material impact on our business from the ongoing geopolitical conditions.”
