{"id":26128,"date":"2024-05-22T12:25:40","date_gmt":"2024-05-22T06:55:40","guid":{"rendered":"https:\/\/gjepc.org\/solitaire\/?p=26128"},"modified":"2024-05-22T12:25:40","modified_gmt":"2024-05-22T06:55:40","slug":"sarine-marks-return-to-profitability-in-q1-2024","status":"publish","type":"post","link":"https:\/\/gjepc.org\/solitaire\/sarine-marks-return-to-profitability-in-q1-2024\/","title":{"rendered":"Sarine Marks Return To Profitability In Q1 2024"},"content":{"rendered":"

Israel-based Sarine Technologies Ltd, the trailblazer in precision technology for the diamond industry, has announced a return to profitability in the first quarter of 2024. The company saw a 27% increase in group revenue compared to the last quarter of 2023, reaching $11.2 million. This stability is attributed to a rebound in rough diamond flow and a significant reduction in natural rough prices, which have bolstered Sarine’s core business.<\/p>\n

At the segmental level, capital equipment sales recovered by 19%, while as recurring revenues grew by 31%, as the quantities of rough diamonds entering the pipeline rebounded (GCAL subsidiary grading revenues in Q1 2024 were seasonably lower than Q4 2023, the peak of the end-of-year U.S. holiday season). As of March 31, 2024, Sarine\u2019s installed base of the Galaxy-family was 832 systems.<\/p>\n

On higher revenues, but with a revenue mix that includes GCAL’s operations, gross profit margin was 64.1% in Q1 2024, as compared to 49.5% in Q4 2023 and 71.4% in Q1 2023, before the GCAL acquisition.<\/p>\n

Correspondingly, gross profit for Q1 2024 was $7.2 million up from $4.3 million in Q4 2023, but down from $8.2 million in Q1 2023. In line with management’s aggressive ongoing cost cutting, operational expenses were reduced by just under 6% as compared to Q4 2023 and fell by over 12% as compared to Q1 2023, enabling the Group to realise a profit of $0.6 million in Q1 2024, as compared to a loss of $2.8 million in Q4 2023.<\/p>\n","protected":false},"excerpt":{"rendered":"

Israel-based Sarine Technologies Ltd, the trailblazer in precision technology for the diamond industry, has announced a return to profitability in the first quarter of 2024. The company saw a 27% increase in group revenue compared to the last quarter of 2023, reaching $11.2 million. This stability is attributed to a rebound in rough diamond flow…<\/p>\n","protected":false},"author":1,"featured_media":26129,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[83],"tags":[],"thb-sponsors":[],"class_list":["post-26128","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bulletin"],"acf":[],"yoast_head":"\nSarine Marks Return To Profitability In Q1 2024 - Solitaire magazine is a International jewellery magazine - India\u2019s leading B2B gem and jewellery magazine<\/title>\n<meta name=\"robots\" content=\"index, follow\" \/>\n<meta name=\"googlebot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta name=\"bingbot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/gjepc.org\/solitaire\/sarine-marks-return-to-profitability-in-q1-2024\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sarine Marks Return To Profitability In Q1 2024 - Solitaire magazine is a International jewellery magazine - India\u2019s leading B2B gem and jewellery magazine\" \/>\n<meta property=\"og:description\" content=\"Israel-based Sarine Technologies Ltd, the trailblazer in precision technology for the diamond industry, has announced a return to profitability in the first quarter of 2024. The company saw a 27% increase in group revenue compared to the last quarter of 2023, reaching $11.2 million. This stability is attributed to a rebound in rough diamond flow…\" \/>\n<meta property=\"og:url\" content=\"https:\/\/gjepc.org\/solitaire\/sarine-marks-return-to-profitability-in-q1-2024\/\" \/>\n<meta property=\"og:site_name\" content=\"Solitaire magazine is a International jewellery magazine - India\u2019s leading B2B gem and jewellery magazine\" \/>\n<meta property=\"article:published_time\" content=\"2024-05-22T06:55:40+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/gjepc.org\/solitaire\/wp-content\/uploads\/2024\/05\/Sarine.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/gjepc.org\/solitaire\/#website\",\"url\":\"https:\/\/gjepc.org\/solitaire\/\",\"name\":\"Solitaire magazine is a International jewellery magazine - India\\u2019s leading B2B gem and jewellery magazine\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":\"https:\/\/gjepc.org\/solitaire\/?s={search_term_string}\",\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/gjepc.org\/solitaire\/sarine-marks-return-to-profitability-in-q1-2024\/#primaryimage\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/gjepc.org\/solitaire\/wp-content\/uploads\/2024\/05\/Sarine.jpg\",\"width\":1000,\"height\":600,\"caption\":\"jewellery magazine\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/gjepc.org\/solitaire\/sarine-marks-return-to-profitability-in-q1-2024\/#webpage\",\"url\":\"https:\/\/gjepc.org\/solitaire\/sarine-marks-return-to-profitability-in-q1-2024\/\",\"name\":\"Sarine Marks Return To Profitability In Q1 2024 - Solitaire magazine is a International jewellery magazine - India\\u2019s leading B2B gem and jewellery magazine\",\"isPartOf\":{\"@id\":\"https:\/\/gjepc.org\/solitaire\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/gjepc.org\/solitaire\/sarine-marks-return-to-profitability-in-q1-2024\/#primaryimage\"},\"datePublished\":\"2024-05-22T06:55:40+00:00\",\"dateModified\":\"2024-05-22T06:55:40+00:00\",\"author\":{\"@id\":\"https:\/\/gjepc.org\/solitaire\/#\/schema\/person\/b614a6d604f6c36c387b4c876bb33d79\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/gjepc.org\/solitaire\/sarine-marks-return-to-profitability-in-q1-2024\/\"]}]},{\"@type\":[\"Person\"],\"@id\":\"https:\/\/gjepc.org\/solitaire\/#\/schema\/person\/b614a6d604f6c36c387b4c876bb33d79\",\"name\":\"GJEPC\",\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/gjepc.org\/solitaire\/#personlogo\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/f6c5b479a8ec14da0f88385e2b6cd51ccb37ac80c31409ecaebe5524700952a2?s=96&d=mm&r=g\",\"caption\":\"GJEPC\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","_links":{"self":[{"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/posts\/26128","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/comments?post=26128"}],"version-history":[{"count":1,"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/posts\/26128\/revisions"}],"predecessor-version":[{"id":26130,"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/posts\/26128\/revisions\/26130"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/media\/26129"}],"wp:attachment":[{"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/media?parent=26128"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/categories?post=26128"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/tags?post=26128"},{"taxonomy":"thb-sponsors","embeddable":true,"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/thb-sponsors?post=26128"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}