March 22, 2011 / 9:35 PM / 7 years ago

UPDATE 1-Harry Winston profit sparkles on higher sales

* Q4 EPS $0.12 vs estimates $0.07

* Revenue 61 pct higher at $215.4 million (In U.S. dollars unless noted)

TORONTO, March 22 (Reuters) - Harry Winston Diamond Corp HW.TO reported a larger-than-expected quarterly profit on Tuesday as both rough-diamond and luxury-jewelry sales soared.

The diamond miner and retailer reported a profit of $9.9 million, or 12 cents a share, in the fourth quarter. That compared with a loss of $3.4 million, or 4 cents a share, a year earlier.

Analysts, on average, had expected earnings of 7 cents a share, according to Thomson Reuters I/B/E/S.

Revenue rose 61 percent to $215.4 million from $133.7 million a year earlier.

The company’s mining division produced 1.54 million carats in the quarter. Rough diamond sales were boosted 30 percent to $82.7 million by higher realized diamond prices.

On the retail side, sales were up 89 percent at $132.7 million, compared with $70.2 million in the year-before quarter.

Shares of Harry Winston closed up 3.33 percent at C$13.96 on Tuesday on the Toronto Stock Exchange.

$1=$0.98 Canadian Reporting by Julie Gordon; editing by Peter Galloway

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