Lazare Kaplan Q2 Net Sales Down 4.3%

Lazare Kaplan’s net sales for the three months ended November 30, 2007 dropped 4.13 percent to $90.5 million, from $94.4 million in the previous year period. Polished diamond revenue for the period increased 3.6 percent to $43 million, a rise that primarily reflects increased sales of branded diamonds.

Net sales for the six months ended November 30 decreased 17 percent to $193.1 million from $233.3 million. Polished diamond revenue for the six months increased 3.2 percent to $76.9 million.

The firm’s rough diamond sales were $47.5 million and $116.2 million for the respective three- and six-month periods, down from $52.9 million and $158.8 million from the previous year.

The decrease in rough diamond sales reflects the transfer during the second fiscal quarter of certain rough diamond buying and trading operations to a formal joint venture.