07:21 AM EST, 02/24/2025 (MT Newswires) -- Lucara Diamond ( LUCRF ) late on Friday said it swung to a profit in the fourth quarter as revenue more than doubled.

Net income from continuing operations came in at US$38.5 million, or US$0.08 per share, compared with a loss of US$24.6 million, or US$0.05 per share. The FactSet consensus GAAP EPS estimate for the quarter was US$0.01.

Revenue on the quarter surged to US$78.8 million from US$36.3 million as carats sold advanced to 112,615 from 111,523.

From the Karowe diamond mine, the company expects revenue this year of US$195 million to US$225 million and sales of 400 to 420 carats.

Lucara also said it set an annual production record in 2024 at Karowe of 2.9 million tonnes of ore processed, up from 2.8 million tonnes in 2023.