Harry Winston Diamonds Announces 2011 Year-End Results

Harry Winston Diamond Corporation (TSX:HW,NYSE:HWD) announced its fourth quarter and year-end results for the period ending January 31, 2012.

As quoted in the press release:

Consolidated sales increased 13% to $702.0 million for the year ended January 2012 compared to $624.0 million for the prior year. This resulted in operating profit of $56.5 million, compared to an operating profit of $68.3 million last year. Included in the fiscal 2012 results was a non-cash $13.0 million charge ($8.4 million after tax) related to the de-recognition of certain components of the backfill plant at the Diavik Diamond Mine.  Excluding this non-cash charge of $13.0 million, the Company’s operating profit would have been $69.5 million representing a slight increase over the prior fiscal year.

Click here to read the Harry Winston Diamond Corporation (TSX:HW) press release.