Dominion Diamond reports Q1 EPS with items (9c), two estimates 13c
EPS figure includes forex impact on income tax expense of 16c and restructuring costs of 2c. Reports Q1 revenue $211M vs. $178.3M last year. Reports adjusted EBITDA $97M vs. $54.3M last year. Reports consolidated carat recovery up 17% to 2.15M carats. "The diamond market has become more positive than in recent months and overall prices have improved from early fiscal 2018 levels after a slight dip associated with the residual effects of the November 2016 demonetization of the Indian rupee... The diamond jewelry retail industry in the United States failed to meet market expectations in the first quarter of calendar 2017. The level of optimism in the market has since increased, except with regards to the outlook for the larger retailers... The improvement in mainland Chinese demand early in the quarter has persisted and there is increased activity in Hong Kong and Macau."