Lazare Kaplan sales down as worried buyers reassess strategy

The economic slump has disrupted credit and equity markets worldwide and led to deterioration in the global economic environment, a general tightening of credit, and lower levels of liquidity.

As a result, some diamond producers have reduced mining activity or begun to stockpile inventory. "In the current economic environment, some of the company's customers may experience difficulty in paying for previously purchased products," the company said when announcing its financial results for the second fiscal quarter of 2009 ended November 30, 2008.