Charles & Colvard, Ltd. Reports Earnings Results for the Third Quarter Ended March 31, 2021
May 06, 2021 at 02:14 pm EDT
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Charles & Colvard, Ltd. announced earnings results for the third quarter ended March 31, 2021. For the third quarter, the company announced sales was USD 9.436 million compared to USD 6.491 million a year ago. Operating income was USD 1.038 million compared to operating loss of USD 6.193 million a year ago. Net income was USD 1.036 million compared to net loss of USD 6.155 million a year ago. Basic earnings per share from continuing operations was USD 0.04 compared to basic loss per share from continuing operations of USD 0.21 a year ago. Diluted earnings per share from continuing operations was USD 0.03 compared to diluted loss per share from continuing operations of USD 0.21 a year ago. For the nine months, sales was USD 29.509 million compared to USD 24.758 million a year ago. Operating income was USD 4.433 million compared to operating loss of USD 5.277 million a year ago. Net income was USD 4.429 million compared to net loss of USD 5.133 million a year ago. Basic earnings per share from continuing operations was USD 0.15 compared to basic loss per share from continuing operations of USD 0.18 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. 
