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Sarine Warns of Severe Earnings Impairment
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Sarine Technologies expects the coronavirus pandemic to have a heavy impact on revenue in the second and third quarters amid shutdowns in its major markets. “We cannot yet forecast what our business results will be for...
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Technology
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Apr 28, 2020
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Rapaport News
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Weak Market Drives Sarine to Full-Year Loss
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Sarine Technologies reported a loss in 2019, as soft demand in the first nine months outweighed a stronger fourth quarter.The diamond technology company reported a net loss of $1.4 million for the year, compared with a profit of $7.6...
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Technology
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Feb 25, 2020
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Rapaport News
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Sarine Returns to Profit in Third Quarter
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Sarine Technologies recorded its first quarterly profit this year amid solid demand for its Galaxy diamond-mapping equipment. Profit for the three months ending September 30 came to $234,000.While the figure was 13%...
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Rough Markets
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Dec 03, 2019
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Rapaport News
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Alrosa Launches Digital Tenders with Sarine Tech
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Alrosa has implemented a digital-tender pilot enabling buyers to scan rough diamonds to evaluate their polished output using systems from SarineTechnologies. The program, which the Russian miner debuted at its October sale, uses Sarine’s...
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Rough Markets
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Nov 11, 2019
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Rapaport News
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Sarine Anticipates Return to Profitability
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Sarine Technologies expects to register a “nominal” netprofit for the third quarter, as sales of mapping machines for small diamonds increasedamid a lessening of the midstream inventory crisis. The manufacturer of equipment for the diamond tradeforecast revenue...
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Manufacturing
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Oct 24, 2019
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Rapaport News
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Diamond Slump Hits Demand at Sarine
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Sarine Technologies expects to report a loss for the second quarter, ascontinued market uncertainties led to lower demand for its diamond-manufacturing equipment. The net loss will be approximately $1 million, the companycautioned earlier this month,...
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Rough Markets
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Jul 30, 2019
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Rapaport News
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India Credit Slowdown Squeezes Sarine Profit
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Sarine Technologies posted a loss in the first quarter ascredit problems in the Indian manufacturing sector led to softened demand forits equipment. The diamond-technology company reported a net loss of $1.4million, versus a profit of $3.1 million for...
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Polished Markets
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May 20, 2019
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Rapaport News
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Manufacturing Slump Hits Sarine Earnings
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Sarine Technologies expects a loss in the first quarter, amid market uncertainties that led to soft demandfor equipment used in diamond manufacturing. The net loss will be between $1 million and $1.5 million, the company cautioned...
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Polished Markets
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Apr 23, 2019
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Rapaport News
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Market Challenges Lead to Sarine Profit Drop
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Profit at Sarine Technologies plunged in the fourthquarter, as sentiment in the diamond industry softened amid weaker consumer spending. The diamond technology company reported net profit fell 85% year on year to $93,000 for the threemonths...
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Technology
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Feb 25, 2019
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Rapaport News
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Sarine Weathers 3Q Market Slump
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Sales at Sarine Technologies rose in the third quarterdespite difficult trading conditions, the equipment maker said. Revenue grew 3.7% year on year to $11.7 million for thethree months ending September 30 as the company sold a larger...
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Polished Markets
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Nov 12, 2018
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Rapaport News
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Lucara to Hold Debut Sale on Clara Platform
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Lucara Diamond Corp. will launch its first sale in Novemberusing its new digital platform that allows customers to obtain the exact rough diamondsthey need, it said Monday. The miner will upload a variety of diamonds...
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Mining
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Oct 22, 2018
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Rapaport News
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Lucara, Sarine Partner for Rough Program
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Sarine Technologies will provide digital services for LucaraDiamond Corp.’s new rough-sales platform, allowing customers to obtain diamondswith the exact specifications they require. Under the agreement, rough stones will undergo Sarine’sGalaxy inclusion...
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Mining
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Aug 21, 2018
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Rapaport News
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Drop in India Orders Dents Sarine Sales
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Sarine Technologies saw a slight decline in revenue during the secondquarter after orders for its diamond-mapping units fell in India. Total sales fell 1.1% year on year to $18 million for the threemonths ending June...
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Technology
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Aug 13, 2018
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Rapaport News
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India Upturn Boosts Sarine’s Results
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Sarine Technologies, which supplies equipment to diamondmanufacturers, saw revenue rise in the first quarter, driven by increased salesof its Galaxy system in India. Group revenue for the period grew 2% year on year to $16.7million, the Israel-based...
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Rough Markets
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May 23, 2018
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Rapaport News
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Sarine Sues Rose Gems for Alleged Fraud
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Sarine Technologies has filed a lawsuit against Indianmanufacturer Rose Gems, alleging breach of contract and fraud, thediamond-technology company said Sunday. The suit, which also alleges copyright infringement, relatesto activities Sarine initially reported...
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Financial-Legal
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Feb 19, 2018
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Leah Meirovich
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Sarine Unit to Sue over Alleged Fraud
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Sarine Technologies subsidiary Galatea will be taking legalaction against a manufacturer in Surat, India, claiming fraudulent use ofSarine’s Galaxy inclusion-mapping technology and software, the companyannounced Thursday. Galatea noted a long-term discrepancy between the weights...
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Technology
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Jan 07, 2018
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Rapaport News
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Sarine Consolidates Surat Business
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Sarine Technologies has united all its Surat-basedoperations in one building in the Indian diamond-manufacturing city.The new six-story facility, Sarin House, spans a total of 5,100square meters and houses about 400 staff members, the Israel-based...
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Manufacturing
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Mar 15, 2017
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Rapaport News
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Sarine Appoints New CEO to Succeed Levami
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Sarine Technologies named David Block as its new chief executiveofficer after Uzi Levami stepped down for personal reasons. Levami (pictured, right), 65, has been group CEO for eight years, a period inwhich...
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Technology
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Jan 24, 2017
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Rapaport News
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Sarine Sales Jump Indian Liquidity Hurdle
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Sarine Technologies expects fourth quarter revenuegrew significantly as sentiment improved in the Indian diamond manufacturingsector, the diamond equipment supplier said in a trading update.The company projected sales will surpass $18 million during the final...
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Technology
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Jan 08, 2017
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Rapaport News
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Ecommerce Gains Leave Retail Stores in the Cold
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Initial holiday sales figures pointed to a tougher seasonfor retailers with department stores Macy’s, J.C. Penney and Kohl’s reporting declines due to a shift toward online shopping. Macy’s share price slid 14 percent on Thursday after...
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Retail
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Jan 08, 2017
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Rapaport News
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