The group delivered 17 Galaxy family systems, comprising 11 Meteor small stone machines, 5 Solaris machines and a Galaxy system, to customers in 1Q17, bringing the total installed base to 316 as of end March. Overall recurring income accounted for 42% of total revenue, with trade revenue derived from the polished diamond line of products and services representing about 2% of total revenue in 1Q17.
SINGAPORE (May 15): Sarine Technologies, the manufacturer and seller of precision products for the evaluation, processing and grading of diamonds and gemstones, registered a 17.3% drop in 1Q17 earnings to US$2.5 million from a year ago.
Backed by healthy level of manufacturing activities in the diamond industry, Sarine recorded 5.1% higher revenue of US$16.3 million in 1Q17 from higher capital equipment sales and higher recurring revenues. However, group revenue was lower on a sequential quarterly basis due to fewer Galaxy deliveries led by the termination of the Meteor promotion at attractive introductory terms as of the end of December 2016.
