Israel's Sarin Technologies, which develops and manufactures advanced planning, evaluation and measurement systems for diamond and gemstone production, has reported revenue of $12.3 million compared to $9.3 million in revenue in Q4 2010.

Net profit for the quarter rose to $3.3 million from $1.3 million in Q4 2010, an increase of 155%.

During the quarter, Sarin delivered six Galaxy and Solaris systems, and deliveries are expected to accelerate over the course of this year. Revenue from the company's Galaxy system grew to comprise approximately 20% of

Sarin's total revenue, and the recurring component of the Galaxy business model approached 15% of Q1 revenue.

Another factor driving Sarin's growth is the acquisition of the Light Performance Technology (LPT) systems. According to Sarin CEO Uzi Levami, LPT "is a major development for Sarin" and is expected to have a significant impact on its product mix.