Harry Winston Has Rough Third Quarter

Forbes reported Harry Winston Diamond Corp. (TSX:HW,NYSE:HWD) diamond business took a nosedive in the third quarter of 2012.

As quoted in the market news:

Sales in the Toronto-based company’s mining segment fell 40 percent, year-over-year, to $36.2 million for the quarter, ended October 31. Rough diamond production for the period increased 8 percent to 800,000 carats for the period. Harry Winston has a 40 percent ownership stake in the Diavik Diamond Mine in Canada’s Northwest Territories. Mining giant Rio Tinto owns the remaining 60 percent.

Click here to read the full Forbes report.