Dominion Diamond (TSX: DDC; NYSE: DDC) may have missed the Street’s expectations due to some accounting rules, but the company showed it is steadily restoring the prominence of Canada’s first diamond mine: Ekati.
Earnings per share for the fourth quarter came in at 12¢ missing the Street’s consensus estimate of 17¢ per share.
The lower than expected results were connected to lower sales at Ekati in the Northwest Territories due to pre-commercial accounting treatment for the Misery satellite production at the site.
Once an adjustment is made for the accounting issue, earnings per share rise above the Street’s expectations to 18¢ per share.
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