Scio Diamond Sees Greater Sales, Production—and Losses

Scio Diamond has increased its sales and lab-grown diamond production, though losses are growing, too.

Without providing details, the company says it has increased production of pink diamonds and is manufacturing colorless diamonds in “greater volume and quality.” It also received $1.5 million in equity financing from investors in its home base of Greenville, S.C.

Sales for the second quarter (ended Sept. 30) increased 127 percent to $236,292, from $103,976 last year. Operational losses for the second quarter were $801,469, compared to $678,255 last year.

The company had previously said it hoped to break even earlier this year.  

JCK News Director