This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Charles & Colvard Reports Fourth Quarter Sales Double And Net Income Quadruples Over Prior-Year Period

Charles & Colvard, Ltd. (NASDAQ Global Select Market: CTHR), the sole manufacturer of created moissanite gemstones, The Most Brilliant Jewel in the World ® , today announced that net sales more than doubled while net income quadrupled for the fourth quarter ended December 31, 2011.

The Company’s continued investment in all aspects of its moissanite brand and business was further rewarded by excellent operating results for the year ended December 31, 2011, as well. Both loose moissanite and finished jewelry sales flourished during the period.

Financial Highlights:

  • Q4 net sales increase 105% to $7.2 million vs. $3.5 million in Q4 2010, and full year net sales increase 26% to $16.0 million vs. $12.7 million in 2010
  • Profitable Q4 and full year – Q4 net income of $1.8 million vs. prior-year period net income of $410,000; full year net income of $1.6 million vs. prior-year net income of $1.6 million
  • $10.5 million cash and investments and no long-term debt at 12/31/11
  • Positive cash flow from operations in Q4 of $1.6 million and full year of $3.5 million

Net sales for the three months ended December 31, 2011 increased 105% to approximately $7.2 million, compared with approximately $3.5 million in sales during the corresponding period of the previous year. Loose moissanite gemstone sales increased 149% to approximately $4.8 million, compared with approximately $1.9 million in the corresponding period of the previous year. Finished jewelry sales increased 50% to approximately $2.4 million, compared with approximately $1.6 million in the corresponding period of the previous year.

Net sales for the year ended December 31, 2011 increased 26% to approximately $16.0 million, compared with approximately $12.7 million in net sales during the year ended December 31, 2010. Loose moissanite gemstone sales increased 19% to approximately $12.1 million, compared with approximately $10.2 million in the previous year. Finished jewelry sales increased 57% to approximately $4.0 million, compared with approximately $2.5 million in the previous year.

1 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs