UPDATE: Dominion Diamond Posts Rise In Q1 Profit

Dominion Diamond

posted a rise in its first-quarter profit. Dominion Diamond's quarterly net profit surged to $500.2 million, or $5.82 per share, from $11.6 million, or $0.14 per share, in the year-ago period. Excluding one-time items, it earned $0.03 per share, versus analysts' estimates of $0.09 per share. Its sales climbed 22% to $108.8 million. Dominion Diamond shares closed at $14.84 yesterday.