Diamond Tooler Sarin Sees 20% Profit Increase in 2012

Israel-based diamond tool maker Sarin reported record results for 2012. The company posted a 10% increase in revenue and a 20% jump in net profit for the year.

Revenue in 2012 reached a record $63.8 million and net profit increased to a record $20.8 million.

During the year, Sarin saw recurring revenue related to its Galaxy devices grow by approximately 50%. Overall recurrent income increased to 25% of the firm's revenue in 2012.

Gross profit margins increased to 68%. The Board has declared a final dividend of $0.0125 per share.

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