Exhibit 99.1
Harry Winston Diamond Corporation
Highlights
(ALL FIGURES ARE IN UNITED STATES DOLLARS UNLESS OTHERWISE INDICATED)
Fourth Quarter Results
Harry Winston Diamond Corporation recorded a fourth quarter consolidated net loss of $3.4 million or $0.04
per share compared to a net loss of $73.0 million or $1.19 per share in the fourth quarter of the prior year.
Included in consolidated net loss for the quarter was a net foreign exchange loss of $2.0 million or $0.03 per
share primarily on future income tax liabilities compared to a net foreign exchange gain of $4.6 million or $0.08
per share in the comparable quarter of the prior year. The comparable quarter of the prior year also included a
non-cash write-down of goodwill relating to the retail operations of $93.8 million or $1.53 per share and an
after-tax gain on insurance settlement of $9.9 million or $0.16 per share that resulted from the December 2008
robbery at the Harry Winston Paris salon.
Consolidated sales for the fourth quarter were $133.7 million compared to sales of $118.4 million in the
comparable quarter of the prior year. Rough diamond sales for the quarter totalled $63.5 million compared to
$51.1 million in the comparable quarter of the prior year resulting from a combination of a 12% increase in the
Company’s achieved rough diamond prices and an 11% increase in volume of carats sold. Rough diamond
production during the quarter was significantly lower than the comparable quarter of the prior year due to a
planned reduction in mining activity to reflect the softness in the rough diamond market earlier in the year. Retail
sales for the fourth quarter were $70.2 million compared to $67.3 million for the comparable quarter of the prior
year, an increase of 4%, reflecting the strength of the Asian market and offsetting continuing slowness in the US.
2010 ANNUAL REPORT
1
Harry Winston Diamond Corporation
Annual Results
The Company recorded a consolidated net loss of $73.2 million or $0.99 per share for the ye