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Charles & Colvard, Ltd. (Nasdaq: CTHR) is a pioneer in the fine jewelry industry, recognized globally as the original creator of lab-grown moissanite. Since its inception in 1995, the company has been synonymous with innovation, quality, and ethical practices. Headquartered in North Carolina's Research Triangle Park, Charles & Colvard produces and markets created gems and fine jewelry using exclusively Made, not Mined™ above-ground gemstones and 100% recycled precious metals.
Charles & Colvard's flagship products include the Forever Classic™, Forever Brilliant®, and Forever One™ moissanite gems. These gems exhibit superior fire, brilliance, and sparkle compared to fine diamonds, yet are available at a fraction of the cost. The company also offers Caydia® lab-grown diamonds, catering to a variety of jewelry needs from bridal to high fashion and everyday wear.
The company's operations are divided into two segments: the Online Channels and the Traditional segments. Through its e-commerce outlets—including charlesandcolvard.com and moissaniteoutlet.com—Charles & Colvard generates the majority of its revenue. It also sells its products through third-party online marketplaces, drop-ship retail, and other exclusively e-commerce outlets. In addition to online sales, their jewelry is distributed through fine jewelry stores, shopping networks, and catalogs, both domestically and internationally.
In recent developments, Charles & Colvard has reported a strong financial condition despite industry challenges. As of the latest fiscal quarter, the company maintains a robust cash position with no debt, ensuring stability and confidence among shareholders. The company has also announced strategic initiatives, including a new digital B2B trade portal, Charles & Colvard Direct, aimed at supporting independent jewelers and retailers. This platform offers the company's premium moissanite brands directly to the trade, bypassing traditional distributor models.
Another notable achievement is the exclusive strategic alliance with the International Gemological Institute (IGI). This collaboration introduces comprehensive grading reports for Charles & Colvard's moissanite gemstones, enhancing consumer confidence by providing standardized measures of quality and authenticity.
Charles & Colvard remains committed to its mission of delivering exquisite, ethical jewelry. Recent partnerships, such as the endorsement by actress Skyler Samuels, aim to enhance brand awareness and consumer education on the benefits of choosing lab-grown gems.
For more information, please visit www.charlesandcolvard.com.
Charles & Colvard, Ltd. (Nasdaq: CTHR) will host an investor conference call on September 1, 2022, at 4:30 p.m. ET to discuss its financial results for the fourth quarter and fiscal year ending June 30, 2022. The financial results will be released after market close on the same day. Interested participants can join via telephone or access the live webcast through the Investor Relations section of the company's website. A replay will be available until September 8, 2022.
Charles & Colvard, Ltd. (Nasdaq: CTHR) unveils its new Couture Collection, featuring 50 pieces of luxury jewelry made with Caydia® lab-grown diamonds and recycled metals. Highlights include stunning 10-carat earrings and 12-carat tennis bracelets aimed at luxury consumers. CEO Don O'Connell emphasizes a commitment to responsible luxury, aiming to redefine high couture jewelry. The collection showcases diverse gemstone cuts and signifies the company's leadership in lab-grown gems. Consumers can explore the Couture Collection on their website.
Charles & Colvard reported $9.8 million in net sales for the quarter ended March 31, 2022, marking a 3% increase year-over-year. The company generated $1.1 million in cash flow from operations and increased total cash to $21.9 million. A new $5 million stock buyback program was announced, demonstrating confidence in the company's direction. Revenue growth was primarily driven by a 141% surge in lab-grown diamond sales and a 10% increase in moissanite sales. However, operating expenses rose 22% to $4 million.
Charles & Colvard (Nasdaq: CTHR) has entered a strategic distribution agreement with Cooksongold, a leading wholesale jewelry supplier in the UK. This partnership aims to expand Charles & Colvard's presence in Europe, specifically for their Forever One moissanite and Moissanite by Charles & Colvard brands. Customers will benefit from next-day delivery options, highlighting the company's commitment to sustainability and increased accessibility to lab-grown gemstones.
Charles & Colvard, Ltd. (Nasdaq: CTHR), a leader in lab-grown gemstones, plans to host an investor conference call on May 5, 2022, at 8:00 a.m. ET to discuss its financial results for the third quarter of fiscal year 2022, ending March 31, 2022. The earnings report will be released before the market opens that day. The call will be accessible via a live webcast on the company’s Investor Relations page.
Charles & Colvard, Ltd. (Nasdaq: CTHR) will host an investor conference call to discuss its financial results for the third quarter of fiscal year 2022 on May 5, 2022, at 8:00 a.m. ET. The financial results will be released after the market closes on the same day. Investors can access the call via webcast on the Company's Investor Relations website or participate via telephone. A replay will be available until May 12, 2022. Charles & Colvard specializes in lab-grown gemstones, offering the Forever One moissanite and Caydia lab-grown diamonds.
Charles & Colvard, Ltd. (CTHR) reported a record revenue of $13.8 million for Q2 FY2022, a 13% increase year-over-year, with a 49% gross margin. Year-to-date revenue reached $24.0 million, up 20% compared to the previous year. Direct-to-consumer sales jumped nearly 50%, while total online sales comprised 68% of net sales. Operating income was $1.5 million with earnings per diluted share at $0.04. Operating expenses rose 52% to $5.3 million, impacting net income, which declined 41% to $1.2 million. Cash equivalents stood at $21.3 million.
Charles & Colvard, Ltd. (Nasdaq: CTHR) will host an investor conference call on February 3, 2022, at 4:30 p.m. ET to discuss its financial results for the quarter ending December 31, 2021. The financial results will be released after market close on the same day. Investors can join the call by dialing the provided numbers or accessing the webcast on the company’s Investor Relations website. A replay will be available until February 10, 2022.
Charles & Colvard has announced the creation of commemorative championship rings for the 2015 and 2019 U.S. Women's World Cup champions as part of U.S. Soccer's Fan Week. The rings, produced in collaboration with U.S. Soccer, celebrate the historic achievements of the teams. The rings feature ethical, lab-grown gemstones and personalized elements for each player. The 2015 ring, set in 10K white gold, includes a Caydia Lab Grown Diamond, while the 2019 ring has a 10K white gold and yellow gold design with multiple diamonds. These rings symbolize excellence and commemorate significant victories.
Charles & Colvard, Ltd. (Nasdaq: CTHR) will present at the Sidoti Virtual Micro Cap Investor Conference on December 8-9, 2021. The presentation, led by President and CEO Don O'Connell, starts at 10:00 AM ET on December 8. Investors can register for the live presentation and one-on-one meetings via the Sidoti website, and registration is free. Charles & Colvard specializes in lab-created gemstones, offering notable brands like Forever OneTM moissanite and Caydia® lab-grown diamonds, emphasizing quality and sustainability.
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