Charles & Colvard, Ltd. Reports Earnings Results for the Second Quarter and Six Months Ended December 31, 2023
February 13, 2024 at 04:10 pm EST
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Charles & Colvard, Ltd. reported earnings results for the second quarter and six months ended December 31, 2023. For the second quarter, the company reported sales was USD 7.91 million compared to USD 10.37 million a year ago. Net loss was USD 2.87 million compared to USD 1.04 million a year ago. Basic loss per share from continuing operations was USD 0.09 compared to USD 0.03 a year ago. Diluted loss per share from continuing operations was USD 0.09 compared to USD 0.03 a year ago.
For the six months, sales was USD 12.86 million compared to USD 17.74 million a year ago. Net loss was USD 5.41 million compared to USD 1.93 million a year ago. Basic loss per share from continuing operations was USD 0.18 compared to USD 0.06 a year ago. Diluted loss per share from continuing operations was USD 0.18 compared to USD 0.06 a year ago.
Charles & Colvard, Ltd. is a fine jewelry company that specializes in moissanite and lab grown diamonds. The Company operates through two segments: Online Channels and Traditional. The Online Channels segment consists of e-commerce outlets, including charlesandcolvard.com, moissaniteoutlet.com, third-party online marketplaces, drop-ship retail, and other pure-play, exclusively e-commerce outlets. The Traditional segment consists of wholesale and retail customers, including its own Charles & Colvard Signature Showroom and charlesandcolvarddirect.com. The Company manufactures, markets, and distributes Charles & Colvard Created Moissanite and finished jewelry featuring moissanite, including Forever One, the Companyâs premium moissanite gemstone brand, for sale in the worldwide fine jewelry market. The Company also markets and distributes Caydia lab grown diamonds and finished jewelry featuring lab grown diamonds for sale in the worldwide fine jewelry market.