Charles & Colvard, Ltd. Reports Earnings Results for the Fourth Quarter Ended June 30, 2023
October 12, 2023 at 04:07 pm EDT
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Charles & Colvard, Ltd. reported earnings results for the fourth quarter ended June 30, 2023. For the fourth quarter, the company reported sales was USD 5.56 million compared to USD 9.3 million a year ago. Net loss was USD 9.25 million compared to net income of USD 0.04077 million a year ago.
Basic loss per share from continuing operations was USD 0.3. Diluted loss per share from continuing operations was USD 0.3.
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.
CHARLES & COLVARD, LTD. 
