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Diamond seller Abazias' 9-month sales grow 8.5%

16
Nov '05
Leading international diamond seller Abazias announces significant positioning for the period ending ended September 30, 2005.

Third quarter sales were $520,000 with a net loss of $25,731 excluding non cash items.

Although this sales figure is down 15 percent when compared to the same quarter last year, sales for the nine month period are up over $133,000 or 8.5 percent, with gross profit up over 172 percent compared to the nine month period ending in September 2004.

'When they combine these figures and the upcoming holiday season with their balance sheet, which has been greatly strengthened by an increased cash level, they are in a good position for strong 4th quarter numbers,' states Oscar Rodriguez, CEO of Abazias.

'Although there can be no assurances, they reasonably believe they can achieve 1MM in revenues in the 4th quarter,'
Rodriguez continues.

'This would not only be a significant percentage increase versus last year, but more importantly a much more profitable one with their new gross margin mix compared to last year.'

In addition, there are several promising initiatives in the works that if successfully concluded in the fourth quarter, would significantly enhance Abazias' stature as a premier leader in the online diamond and jewelry market.

Abazias currently has the largest online offerings of diamonds known to exist with over 70,000 available for sale on their site.

'Their goal is to create enough momentum to make people sit up and notice Abazias the way they do Blue Nile, and it is extremely attainable,' Rodriguez states.


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