Skip to main content

The Globe and Mail

Harry Winston's revenue rises to $144-million

Robert Gannicott CEO of Harry Winston Diamond Corporation seen here at Diavik diamond mine site in the North West Territories March 25, 2010.

John Lehmann/Globe and Mail/John Lehmann/Globe and Mail

Harry Winston Diamond Corp. credits high prices for rough diamonds and increased sales of jewelry and timepieces for a big increase in first-quarter revenue and profits.

The Toronto-based diamond miner and jewelry retailer said net earnings in its fiscal 2012 first quarter ended April 30 were $3.6-million (U.S.) or four cents per share.

That was up from $2.9-million or three cents per share in the comparable 2011 period, said the company, which reports in U.S. dollars.

Story continues below advertisement

Revenues totalled $143.9-million, up from $114-million.

"This quarter's results reflect improving rough diamond prices combined with increasing sales and profit for the luxury brand segment," chairman CEO Robert Gannicott said in a release.

"Both sides of our diamond business are performing well as we continue to achieve premium rough diamond prices and execute our luxury brand strategy."

Report an error
Comments are closed

We have closed comments on this story for legal reasons. For more information on our commenting policies and how our community-based moderation works, please read our Community Guidelines and our Terms and Conditions.