For 9MFY2022, revenues were slightly down by 5%, from an exceptionally strong 9MFY2021 (driven by a post Covid-19 surge), and with operations normalised to pre-Covid levels and expenditures expanded commensurately, profitability was down 40% y-o-y to US$8.7 million.
Diamond tech player Sarine Technologies announced that profitability for the 3QFY2022 ended September period improved 12% y-o-y to US$2.2 million ($3.02 million), due primarily, to the increase in sales and financial income, offset by a reduced gross margin and an increase in operating expenses, as these returned to their pre-pandemic normal levels.
Revenue for the quarter was up 20% to US$14.5 million, with the launch of its improved Meteorite Plus in September. Gross margin in 3QFY2022 was down to 68%, mainly due to the rollout of the lower margin Meteorite Plus.
