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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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Sarine Ushers In Era of In-Factory Grading
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Sarine Technologies has launched a new platform enabling manufacturers to tap its automated grading systems and issue a report in-house to support the needs of jewelers.The company this week introduced its eGrading innovation via a video...
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Technology
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Mar 12, 2020
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Avi Krawitz
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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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HRD Antwerp Not for Sale (for Now)
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The Antwerp World Diamond Centre (AWDC) has postponed the sale of HRD Antwerp, and will instead embark on a turnaround strategy for the laboratory.“The [AWDC] board of directors and standing committee decided not to sell...
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Polished Markets
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Feb 23, 2020
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Joshua Freedman
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Sarine Joins Race to Buy HRD Antwerp
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Sarine Technologies has entered the running to acquire HRDAntwerp, according to two sources close to the sale process. The Israel-based diamond-technology company has registered its interest in buying the Belgian laboratory, as have two previous...
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Polished Markets
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Dec 03, 2019
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Joshua Freedman
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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 Adapts Grading to Reach Tiffany Standards
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Sarine Technologies will modify its diamond-grading equipment to comply with the luxury jewelry retailer’s stringentguidelines. Sarine bases its automated grading on the Gemological Institute of America’s grading system. However, Tiffany’s in-house graders have...
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Polished Markets
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Nov 03, 2019
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Rapaport News
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Diamond Manufacturers Must Brace for Automation
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Imagine the following: A diamond-mining company operating with self-driving trucks loads its haul of ore to the processing plant, where rough diamonds are separated from waste and arranged in their rough forms into different...
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Manufacturing
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Oct 31, 2019
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Avi Krawitz
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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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Sarine, NGTC Partner on Grading Standards
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Sarine Technologies is collaborating with China’sNational Gemstone Testing Center (NGTC) to advance diamond-gradingstandards in China. Sarine CEO DavidBlock and NGTC president ZhiBin Ye signed the agreement in Beijing Monday, with the intention of combining NGTC’s extensive...
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Polished Markets
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Sep 19, 2019
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Rapaport News
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Sarine Sales Dip Amid ‘Challenging’ Market
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Sarine Technologies saw a sharp decline in revenue duringthe second quarter, as an oversupply in the midstream led to lower sales of manufacturing equipment. Sales fell 35% year on year to $11.6 million for the threemonths ending June 30,...
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Polished Markets
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Aug 12, 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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Will Gemologists Survive Automation?
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Amid the tech boom that is shaping the diamond industry, a growing number of companies are challenging the grading laboratories, arguing that assessing the 4Cs should not be a subjective science.“Five to 10 years from now, diamond...
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Technology
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Jul 10, 2019
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Avi Krawitz
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Cutters Join Sarine’s Diamond Journey
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Sarine Technologies has partnered with 14 diamond manufacturers on its Diamond Journey provenance program, enabling retailers to tap a growing resource of polished stones certified through the initiative. “We expect to have tens of thousands of documented diamonds...
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Technology
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Jun 11, 2019
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Rapaport News
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Is 3-D the Industry’s Next Big Thing?
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In an era when consumers are more tech-savvy than ever, andonline jewelers are taking business from brick-and-mortar, tools thatenhance the customer experience can help retailers draw customers totheir stores. Many industries have...
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Technology
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May 26, 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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Sarine Tracking Platform Launches in Japan
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New Art Cima will become the first Japanese retailer to usethe Sarine Diamond Journey software to sell jewelry to its customers. The platform presents a report of all the steps a diamondtakes from its rough origin...
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Technology
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Apr 16, 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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