The strong Canadian dollar gouged Aber Diamond Corp.'s second-quarter earnings, despite increased sales driven by strong global demand for diamonds.

The company reported revenue of US$173-million, a rise of 24% compared to US$140-million in the period a year earlier. But earnings fell 41% to US$20-million, versus US$34-million in the second quarter of last year, a drop the company attributed partly to "a significant unrealized foreign exchange loss of US$9.6 million on future income taxes payable."

The company's mining business saw earnings rise 15% to US$105-million, while its retail division Harry Winston saw earnings surge over 40% to US$68-million.

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