Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

7936567 Canada Inc SWYDF

Stornoway Diamond Corp is a leading Canadian diamond exploration and producing company. Its principal business is the development of its flagship asset, the fully-owned Renard Mine, located in Quebec, Canada. The company intends to grow its business through the exploration and development of its mines. Stornoway also holds interests in a portfolio of exploration assets across Canada through owned properties and joint ventures. These properties and joint ventures include projects such as Adamantin, Qilalugaq and Pikoo.


GREY:SWYDF - Post by User

Bullboard Posts
Post by landlubberon Mar 22, 2011 8:08pm
390 Views
Post# 18324957

Harry Winston Record Fourth Quarter

Harry Winston Record Fourth Quarter

Harry Winston Diamond Corporation Reports Record Fourth Quarter Sales and Strong Year-End Results

PR Newswire

TORONTO, March 22/PRNewswire-FirstCall/ - Harry Winston Diamond Corporation (TSX: HW)(NYSE: HWD) (the "Company") today announced its fourth quarter andyear-end results for the period ending January 31, 2011.

Fourth Quarter Highlights:

 - Consolidated sales increased 61% to $215.4 million from    
$133.7 million in the comparable quarter of the prior year.
- For the mining segment, rough diamond sales for the fourth quarter
were 30% higher at $82.7 million compared to $63.5 million for the
fourth quarter last year. This increase resulted primarily from a 23%
increase in the Company's achieved rough diamond prices.
- Rough diamond production during the calendar quarter from the Diavik
Diamond Mine was 1.54 million carats, compared to 1.53 million carats
for the fourth calendar quarter of last year (on a 100% basis).
- Luxury brand segment sales for the fourth quarter increased 89% to
$132.7 million from $70.2 million for the comparable quarter of the
prior year.
- Consolidated net earnings attributable to shareholders for the fourth
quarter were $9.9 million or
.12 per share compared to a
consolidated net loss attributable to shareholders of $3.4 million or

.04 per share in the fourth quarter of the prior year. Included in
consolidated net earnings attributable to shareholders for the
quarter was a net foreign exchange loss of $3.0 million or
.04 per
share primarily on future income tax liabilities compared to a net
foreign exchange loss of $2.0 million or
.03 per share in the
comparable quarter of the prior year.

Robert Gannicott, Chairman andChief Executive Officer stated: "This past year we have seen rapidgrowth in diamond demand, which has had a positive effect on bothsegments of our business. New customers in emerging markets, especially Asia,have replaced demand from the traditional markets such as Americaduring the financial crisis. As recovery in America and development inthe BRIC economies continues, the outlook for rough diamond prices, ledby jewelry sales, is expected to be robust."

He continued, "Our operating earnings improved by $86 million versus the prior year as we swung decisively from loss to profitability on the back of strongly improved revenues."


Harry Winston Diamond Corporation Reports Record Fourth Quarter Sales and Strong Year-End Results
Bullboard Posts