Sarine Technologies - Focus on cost savings and marketing efforts
As the midstream market continues to struggle, Sarine reported a net loss of US$1.4m in Q119 amid weaker scanning activity and lower margins on equipment sales. In this environment, the company is focusing on prudent cost management and further promotion of retail-oriented products (which remains a minor part of the business at just under 3% of Q119 group sales). Management has recently seen some initial signs of potential recovery in the number of scanned stones. The company retained a solid gross cash position of US$32.7m (vs US$28.9m at end-2018).Sarin Technologies Ltd. develops, manufactures, markets and sells precision technology products for the processing of diamonds and gemstones. Co.'s products provide solutions for every stage of the rough diamond manufacturing process, from determining the optimal polished gem based on true dollar value, through laser cutting and shaping, to inline quality control of the faceting. Co. also aids in key aspects of the polished diamond trade - the grading of a diamond's Cut and its Light Performance and by providing tools that simplify the online trade and enhance the in-store buying experience.
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