Dominion Diamond Swings to Q3 Profit

Dominion Diamond Corporation (TSX:DDC,NYSE:DDC) registered a profit in the third fiscal quarter of 2015 (August through October), and has attributed that result to the good performance to Ekati diamond mine and the Diavik diamond mine. The company intends to initiate a dividend following the release of its year-end results in April.

As quoted in the press release:

The Company recorded a third quarter consolidated net income attributable to shareholders of $25.5 million or $0.30 per share. For the nine months ended October 31, 2014, consolidated net income attributable to shareholders totalled $66.7 million or $0.78 per share.

Brendan Bell, acting CEO, stated:

While we continue to focus on the strategic development of our future resources, we are also taking a very disciplined approach to executing on our current mine plan. This disciplined approach is apparent in these strong results.

Click here for the Dominion Diamond Corporation (TSX:DDC,NYSE:DDC) press release.