During this year’s third quarter, ending October 31, 2009, luxury jewelry company Harry Winston Diamonds has reported a net loss of $0.2 million, compared to the corresponding period last year, when the luxury jewelry company reported a net income of $71.9 million, or $1.17 per share.



In addition, net fine jewelry sales in the third quarter of fiscal 2010 were $74.8 million, compared to the third quarter fiscal 2009 which showed net sales of $148.6 million.

Net loss for the first nine months of fiscal 2010 was $69.8 million, or $0.95 per share, compared to a net income of $143.1 million, or $2.35 per share, for the corresponding period of fiscal 2009.

For the first nine months of fiscal 2010, net fine jewelry sales were $279.2 million, compared to $490.8 million for the first nine months of fiscal 2009.

"We are very pleased to see a solid reversal in the negative trends that have characterized the previous quarters,” commented Robert Gannicott, Chairman and CEO of the Harry Winston Diamond Company. “Diavik diamond production is set to increase, rough diamond prices continue to rise, and retail sales have seen substantial improvement, led by the Far East, including Japan. If US recovery takes hold it will inevitably produce incremental demand for diamond products."