Moissanite Sales Increase 69%

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.