Harry Winston Diamond advances 6% on strong Q2 results
Harry Winston Diamond Corp. (NYSE:HWD) rose nearly 6% this morning after the Toronto-based diamond retailer reported second-quarter earnings that widely topped analysts’ estimates.
After the bell on Tuesday, Harry Winston said it earned $49.9 million, or $0.81 per share, for the three-month period ended July 31 compared with earnings of $20.1 million, or $0.34 per share, in the year-ago quarter.
Analysts polled by Thomson First Call were on average expecting earnings per share of $0.43.
The company said its expanded market place has delivered strong pricing for its rough diamond sales despite difficult trading conditions in both the United States and Japanese markets.
By late morning, Harry Winston is at $17.17, up $0.95 from Tuesday’s close. Shares have ranged between $16.06 and $44.98 during the past year.
For detailed price information and news stories on Harry Winston, click HWD.
