Moissanite Sales, Profits Down



Charles & Colvard announced sales and profits were
down for the second quarter of 2011.

However, the company added that, excluding the effect of
two significant non-recurring sales transactions in prior-year period, second quarter
sales increased 42 percent across its customer base.

Some highlights of Charles and Colvard’s most recent
financial statement:

  • Second quarter of 2011 net sales: $3 million, down ten
    percent
  • Second quarter loose moissanite gemstone sales: Down 9
    percent, to approximately $2.5 million
  • Second quarter finished jewelry sales: Down 15 percent, to
    $521,00
  • Second half (the six months ended June 30, 2011) net
    sales: Down 3 percent, to $6 million.
  • Second quarter profits: A net loss of $103,000, compared
    to a $336,000 profit last year
  • Second half profits: A loss of $340,000, compared to a
    $635,000 profit last year

“The outlook for the second half of 2011 appears
encouraging and should benefit further from our planned launch of new sales and
marketing initiatives,” said CEO Randy McCullough in a statement.

For more information on
Charles and Colvard’s financial statement, click here.