Charles & Colvard, Ltd. Reports Earnings Results for the Full Year Ended June 30, 2023
October 12, 2023 at 05:16 pm EDT
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Charles & Colvard, Ltd. reported earnings results for the full year ended June 30, 2023. For the full year, the company reported sales was USD 29.95 million compared to USD 43.09 million a year ago. Net loss was USD 19.58 million compared to net income of USD 2.37 million a year ago.
Basic loss per share from continuing operations was USD 0.64 compared to basic earnings per share from continuing operations of USD 0.08 a year ago. Diluted loss per share from continuing operations was USD 0.64 compared to diluted earnings per share from continuing operations of USD 0.08 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.
CHARLES & COLVARD, LTD. 
