Zale Corporation has posted revenue of $377 million for the fourth quarter (ending July 31, 2011), a 9.4% year-on-year increase.

The US diamond retailer's gross margin on sales for the quarter was $193 million, a 6.4% increase over the fourth quarter of 2010.

However, the fourth quarter still represented a net loss of $33 million, and the company's outstanding debt rose to $395 million compared to $296 million in the corresponding quarter of 2010.

For the fiscal year ending July 31, Zale generated a total $1.74 billion in revenue, a 7.8% increase over the previous year, and a net loss of $112 million, compared to $96 million in 2010.

In related news, the diamond company, which operates over 1,830 jewelry boutiques throughout North America and Puerto Rico, announced that was expanding its options for customer financing through a partnership with Monterey Financial Services, which will offer financing possibilities for Zale customers whose credit has been rejected by Citibank.

"We are pleased to be able to expand our financing options so that even more guests can affordably purchase beautiful jewelry," said Ken Brumfield, Vice President of Financial Products.