Sarin Technologies reports record sales

SARIN Technologies, developer and manufacturer of precision diamond and gemstone production technology, announced a record set of financial results for the year ended December 31, 2005 on February 23, 2006. Sarin is a publicly owned company, with its shares listed on the main board of the Singapore Stock Exchange. Sarin Group�s revenue grew strongly by 61% to U.S. $30.3 million and net profit jumped 109% to U.S. $9.4 million.

The boost in figures was a robust customer demand for existing and new products, as well as ongoing efforts to secure new customers in India and other strategic markets. �Sarin�s strong business presence and consistent marketing efforts in India, the largest diamond manufacturing market in the world, were key factors in securing orders from new and existing customers for our expanding product range,� stated Zeev Leshem, Sarin�s CEO. �Furthermore, customer reception to the introduction of new Sarin products and services in 2005, including Facetware� and the recently launched Quazer� laser cutter, has been positive.�

Sarin predicts a favorable year with emerging consumer markets in China and India should add to the global demand for diamonds which will lead to need for automation to improve yield, and this is expected to lead to high demand for Sarin�s products and services. The success of the Quazer� system is expected to contribute to Group revenue and profit this year. Sarin plans to enhance existing products and progressively launch several new innovations to complement its existing range.