skip to main content
the israel diamond industry logo

Sarine Rakes in $15.6 Million in Q1 2022

This is a decrease of 9.9% compared with the first quarter
Sarine Service Center
Credit: Sarine

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.”

 

Galaxy Ultra by Sarine
Credit: Sarine Technologies


Tags: Diamonds News, Jewelry News, Diamond Industry News, Sarine News

More News