The Harry Winston Diamond Corporation saw consolidated sales of $215.4 million in the fourth quarter (Q4) of 2010, a 61% increase over the corresponding quarter of 2009, the company reported Tuesday. Sales for the 2010 fiscal year stood at $624 million.

Harry Winston's rough diamond sales for Q4 were up 30%, totaling $82.7 million, while rough diamond sales for the entire 2010 fiscal year totaled $279.2 million, a 49% increase from 2009. The increase is attributable to the fact that the company's achieved rough prices rose 62%, despite the fact that the volume of carats sold decreased by 8%.

The company's diamond mining operations produced 6.5 million carats in 2010, compared to 5.5 million carats in 2009. Q4 production at the Diavik diamond mine in Canada increased very slightly from the corresponding quarter of 2009, from 1.53 million carats to 1.54 million carats.

Harry Winston's luxury brand segment sales rose 53% in 2010, totaling $344.8 million, and the company posted net earnings of $21.7 million.

Chairman and CEO Robert Gannicott stated that the company had seen rapid growth in diamond demand in 2010, which had a positive effect on both of its business segments.

"New customers in emerging markets, especially Asia, have replaced demand from the traditional markets such as America during the financial crisis. As recovery in America and development in the BRIC economies continues, the outlook for rough diamond prices, led by jewelry sales, is expected to be robust," Gannicott said.