Rockwell Diamonds has released its financial results for the 12-month period ending February 28, 2011, and reported that the average per-carat price for its diamonds reached C$1,365 – a 35% increase over the previous year.

The company's diamond mining operations produced a total of 26,165 carats for the year reported, 5% more than the previous 12-month period. In the fourth quarter of the year, Rockwell's mines yield 38 diamonds weighing over 10 carats each, which were sold into the company's joint venture with the Steinmetz Diamond Group. Total sales rose by 2%.

Revenue for the year totaled $42.5 million – a 43% year-on-year rise, and the company saw an operating profit of $4 million, compared to an operating loss of $3.6 million the previous year.

The fourth quarter alone saw revenue of $11.5 million, a 58% jump compared to the corresponding quarter a year earlier. However, carat production for the quarter was down 26%, due to unusually heavy rainfall at the Holpan and Klipdam operations and lower ore grades at the Saxendrift mine.