Charles & Colvard Ltd - CTHR STOCK NEWS

Charles & Colvard (CTHR) reported net sales of $10.4 million for the second quarter ending December 31, 2022, reflecting a 25% decline from the previous year’s $13.8 million. Despite challenging macroeconomic conditions, the company generated positive cash flow from operations of $600,000. The shift towards online channels contributed 76% of revenues, increasing from 68% in the prior year's quarter. Lab-grown diamond sales surged by 19% compared to last year, with a 603% year-to-date increase since 2021. The company maintains a healthy cash position of $17 million, with no debt, but reported a net loss of $1 million for the quarter.

Charles & Colvard, Ltd. (NASDAQ: CTHR) has announced an investor conference call scheduled for February 2, 2023, at 4:30 p.m. ET to discuss its financial results for the second quarter of fiscal year 2023, ending on December 31, 2022. The financial results will be released after market close on the same day. Interested parties can access the call by dialing (844) 875-6912 (U.S.) or through the live webcast available on the Company’s website. Replay options will be available until February 9, 2023.

Charles & Colvard, Ltd. (Nasdaq: CTHR) has partnered with Lytham Partners, a leading investor relations firm, to enhance its shareholder communication strategy. The collaboration aims to refine the company’s messaging, broaden its investor base, and implement best practices in investor communications as it enters a new growth phase. Lytham Partners has over 20 years of experience and a substantial network within the investment community, which will benefit Charles & Colvard by providing better exposure to institutional investors. The company is known for its ethical jewelry, primarily focusing on lab-grown gemstones and recycled precious metals.

Charles & Colvard (CTHR) reported net sales of $7.4 million for Q1 Fiscal 2023, down 28% year-over-year. Highlights include a 85% surge in lab-grown diamond sales, but a 12% decline in moissanite sales. The company opened its first retail showroom in October and launched new collections, emphasizing strategic investments to appeal to conscious consumers. Operating expenses rose 5% to $4.5 million, while cash and equivalents stood at $16.6 million. The net loss was $890,000, equating to $0.03 per diluted share.

Charles & Colvard, Ltd. (Nasdaq: CTHR) will host an investor conference call on November 3, 2022, at 4:30 p.m. ET to discuss its financial results for Q1 Fiscal Year 2023, ending September 30, 2022. The results will be released after market close on the same day. Investors can join the call via telephone or webcast, with a replay available until November 10, 2022. Charles & Colvard is known for its lab-created gemstones, including its Forever One™ moissanite brand and Caydia® lab-grown diamonds.

Charles & Colvard, Ltd. (Nasdaq: CTHR) is set to unveil its first brick-and-mortar showroom on October 24, 2022, at its Morrisville, NC campus. The 2,000 square foot showroom aims to enhance customer engagement and education about lab-grown gemstones. It will showcase a full range of offerings, including new collections like the Caydia® lab-grown diamond men's bands. Company leaders emphasize the showroom's role in helping consumers understand the benefits of responsibly sourced jewelry. The showroom will also host private events to connect with local businesses.

Charles & Colvard (Nasdaq: CTHR) has announced the launch of a new collection featuring lab-grown ruby, sapphire, and emerald gemstones. This initiative adds vibrant color to their Made, Not Mined™ jewelry line, aimed at fashion-forward consumers. The gemstones are crafted to AAA quality standards, enhancing clarity and polish, which are often unattainable in mined stones. The company emphasizes its commitment to redefining the fine jewelry industry with sustainable choices and trendy designs. Their latest offerings align with a growing fashion trend identified by Vogue as

Charles & Colvard (Nasdaq: CTHR) has launched its first line of men's diamond fashion bands featuring Caydia^® lab-grown diamonds and 14K recycled gold. This new collection, part of the Signature Collection, aims to expand their market presence in lab-grown diamond jewelry. CEO Don O'Connell emphasized the brand's commitment to combining traditional design with modern aesthetics. The company aims to be a leading destination for lab-grown diamond jewelry, reinforcing their ethical stance of using exclusively Made, Not Mined™ gemstones.

Charles & Colvard reported $9.3 million in net sales for Q4 FY 2022, a 4% decline year-over-year. However, the company achieved a record $43.1 million in net sales for FY 2022, a 10% increase from the previous year. Lab-grown diamond sales soared by 173%, while moissanite sales grew by 13%. The firm recorded a gross margin of 47% and $2.4 million in net income, translating to $0.08 earnings per diluted share. Cash reserves stood strong at $21.2 million. The company maintained profitability over eight consecutive quarters.