Tuesday, March 4, 2008

Diamond Nexus Labs Announces 2007 Financial Results

Diamond Nexus Labs, the world's leading producer of lab-created diamond simulant gemstones set in fine jewelry, announced their fourth-quarter and annual 2007 financial results Monday.

For the quarter ended December 31, 2007, the company posted a 62% gain in gross revenues over the quarter one year previous. This brought annual results to a 109% gain over fiscal 2006 revenues. This is the third consecutive year of triple digit revenue increases for the company. Corporate profit also advanced sharply.

"2007 was an excellent year for us," said Justin Lockridge, Business Development Manager for Diamond Nexus Labs. "We saw our expansion into several new marketing channels. There was a cooling in the economy in the fourth quarter, and we did lower our projection and guidance numbers slightly, however compared to the rest of the industry our performance was still white hot."

The company has not released projections or guidance for fiscal 2008, however indications are that, even in a weakening economy, the company will post substantial revenue and profit gains.

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