Charles & Colvard Sales Down 48%

Charles & Colvard, Ltd. announced their nets sales were down 48% in the third quarter.  Net sales for the fiscal year up to September are down 47%.

Net sales for the quarter were $2.1 million, down from $4.2 million in the third quarter of 2008.  Net sales for the first nine months of 2009 were $6.0 million, down from $11.2 million for the same period of 2008.

Net sales for the quarter were up 62% over net sales of $1.3 million in the second quarter of 2009 compared to a 14% increase in third quarter 2008 over second quarter 2008.