Charles & Colvard, the manufacturer of created moissanite gemstones, saw its net sales for the second quarter increase 69 percent.
Overall sales were $5.1 million, versus $3 million last year.
CEO Randy McCullough said in a statement that the company’s largest customer is Jewelry Television (JTV), but added that Charles & Colvard has seen a “nice increase” in business from its wholesale distributors.
Other highlights for the second quarter ended June 30:
- Net income: $549,000, versus a prior-year period net loss of $103,000
- Loose moissanite gemstone sales: Up 65%, to $4.1 million
- Finished jewelry sales: Up 86%, to $968,000
- The company has no long-term debt.
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