London-listed miner BHP sells diamond operation to Canada’s Harry Winston

Global miner BHP Billiton Plc (LON:BLT) said it had sealed a deal to shed its diamonds business to Canada-based Harry Winston Diamond Mines Ltd for about USD500m (EUR394.2m) in cash.

The transaction would involve the company’s Ekati diamond mine in Canada and its diamonds marketing activities. Harry Winston would also take on all of the company’s employees working from Yellowknife, Canada and Antwerp, Belgium.

The particular mine is minority-held by certain joint venture parties which have pre-emptive rights to acquire BHP Billiton’s stake. They have 60 days to decide on whether to exercise those rights, with the deal being subject to their waiver or expiration.

The sale is also awaiting regulatory approval and is scheduled for completion in the first quarter of 2013. It mirrors BHP Billiton’s “ongoing pursuit of a simpler business”, as noted by the company’s CEO non-ferrous Andrew Mackenzie. The divestment would lead to an impairment of some USD200m to the carrying value of the asse

-Dialogic 3Q 2012 revenue down from 2011 quarter

Dialogic Inc. (NASDAQ: DLGC) reported total revenue for the third quarter of 2012 was $42.4 million, compared to $47.4 million in the third quarter of 2011 and $38.6 million in the second quarter of 2012.

Dialogic Inc. (NASDAQ: DLGC) reported total revenue for the third quarter of 2012 was $42.4 million, compared to $47.4 million in the third quarter of 2011 and $38.6 million in the second quarter of 2012.

Gross margin for the third quarter of 2012 was 61.8%, compared to 59.8% in the third quarter of 2011 and 45.9% in the second quarter of 2012. Operating expense for the third quarter of 2012 was $26.4 million, compared to $37.3 million in the third quarter of 2011 and $35.5 million in the second quarter of 2012.

Net loss for the third quarter of 2012 was million, or ($0.03) per share, compared to losses of ($13.1) million, or ($2.09) per share, in the third quarter of 2011 and ($18.0) million, or ($2.85) per share, in the second quarter of 2012. Earnings per share results were calculated on a post-split basis, taking into effect the company’s 5 for 1 reverse stock split, effected on September 14, 2012, retroactively applied for compared periods.

“Dialogic is pleased to report that the organizational, operational and financial initiatives that have been implemented over the past four quarters are starting to yield better results across key dimensions of our business,” said Kevin Cook, president and CEO. “We are encouraged that our Next-Gen portfolio achieved double digit sequential revenue growth. In addition, we recorded the lowest quarterly non-GAAP operating expenses and the highest adjusted EBITDA for 2012.”

Dialogic is a provider of products and technologies that enable operators to provide an enhanced mobile experience. For more information, visit www.dialogic.com and www.dialogic.com/showcase.