Charles & Colvard Ltd - CTHR STOCK NEWS

Charles & Colvard, Ltd. (Nasdaq: CTHR) announces it has regained compliance with Nasdaq's minimum bid price listing requirement, as the company's stock price was $1.00 or greater for the last 10 consecutive business days ending November 27, 2020. President and CEO Don O'Connell noted that this is a significant milestone for the business and reflects their ongoing efforts to enhance brand value and shareholder returns. The company specializes in lab-created gemstones, including moissanite and lab-grown diamonds, and aims to offer high-quality, environmentally responsible fine jewelry.

Charles & Colvard (CTHR) reported Q1 Fiscal 2021 results with net sales of $7.9 million, up 4% from $7.6 million year-over-year. Net income rose to $874,000 or $0.03 per diluted share, compared to $207,000 ($0.01 per share) last year. Online sales surged 21% to $4.5 million, comprising 56% of total sales, while traditional sales fell 11% to $3.5 million. Operating expenses decreased by 20% to $2.9 million. The company launched the premium Caydia diamond line and expanded retail presence with Macy's.

Charles & Colvard, Ltd. (NASDAQ:CTHR) will hold an investor conference call on November 5, 2020, at 4:30 p.m. ET to discuss financial results for the first quarter of fiscal year 2021. The company will release its financial results after market close on the same day. The call will be accessible via telephone or through a live webcast on the company's Investor Relations page. A replay will be available until November 12, 2020. Founded in 1995, Charles & Colvard specializes in lab-created gemstones and is known for its Forever One moissanite brand and new Caydia lab-grown diamond brand.

Charles & Colvard (NASDAQ:CTHR) has launched Caydia, a premium brand of lab-grown diamonds, as part of its expansion into this growing market. This strategic move aims to tap into the estimated $5.2 billion opportunity in lab-created diamonds. President and CEO Don O'Connell emphasized the increasing consumer demand for lab-created gems and the intent to redefine perceptions regarding diamond value. Caydia diamonds are hand-selected and offered in various styles, including engagement rings and fine jewelry, all made with responsibly sourced materials.

Charles & Colvard (NASDAQ:CTHR) has expanded its retail partnership with Macy's, launching a fine jewelry assortment made of created moissanite in fifty selected locations. This includes flagship stores in New York City, San Francisco, and Chicago. The initiative marks an extension of their omnichannel strategy, aiming to enhance customer experience in-person while also maintaining online offerings. Prices start at $275 for items like bridal and fashion rings, necklaces, and earrings. The company emphasizes its focus on environmental and social responsibility.

Charles & Colvard (CTHR) reported Q4 2020 net sales of $4.4 million, down 42% from $7.6 million a year earlier, with a net loss of $1.0 million, equating to $0.04 loss per diluted share. For FY 2020, net sales were $29.2 million, down 9% compared to $32.2 million in FY 2019, resulting in a $6.2 million net loss or $0.22 loss per diluted share. Operating cash flow was positive at $1.8 million. Finished jewelry sales rose 9%, while loose jewel sales fell 26%. The company maintained a strong liquidity position with $14.6 million in cash and reduced total inventory to $30.6 million.

Charles & Colvard reported net sales of $6.5 million and a net loss of $6.2 million for Q3 Fiscal 2020, largely attributed to a $5.3 million write-off of inventory linked to legacy silicon carbide. The company is adapting to COVID-19's impact on consumer behavior, emphasizing cost management and operational adjustments. CEO Suzanne Miglucci expressed optimism about future growth, targeting socially-conscious Millennials and focusing on e-commerce, which constituted 59% of sales. Plans are in place to enhance inventory and marketing as restrictions ease.

Charles & Colvard (Nasdaq: CTHR) has launched a new line of fine jewelry featuring its created moissanite gemstones at Hudson’s Bay, a prominent Canadian department store. This collection is now accessible to Hudson’s Bay's extensive online audience at TheBay.com. CEO Suzanne Miglucci emphasized the company's commitment to expanding its digital presence and enhancing its omnichannel strategy, assuring that their ethically sourced jewelry will align well with Hudson's Bay's offerings.

Charles & Colvard, Ltd. (CTHR) will host an investor conference call on May 21, 2020, at 4:30 p.m. ET to discuss its financial results for the third quarter of fiscal year 2020, ending March 31, 2020. The company will disclose its earnings after the market closes that same day. Participants can join by calling designated numbers and an accompanying slide presentation will be available on the company's Investor Relations website. A replay of the call will be accessible until May 28, 2020.