On Nov 17, just days before the earnings announcement, the company had bought back 75,000 shares on the open market at between 28.5 cents and 28.9 cents each.
Sarine Technologies, the provider of diamond grading services and seller of diamond grading machines, reversed into the red in the third quarter due to a cloudier outlook for the global economy.
On Nov 19, Sarine reported a 25% y-o-y drop in revenue and a loss of just under US$1 million ($1.34 million) in 3QFY2023 ended Sept 30.
