Charles & Colvard reported stronger sales of its man-made moissanite gemstones during the first quarter.
The Morrisville company also made money during the three-month period, the first profitable quarter in nearly three years.
The results show that efforts to attract new retailers, distributors and consumers "are taking hold," said CEO Randy N. McCullough, on a conference call this afternoon with analysts. Charles & Colvard hired McCullough last fall to revive sales that sank even before the recession curbed consumer spending.
One effort involves a new online store for "friends and family," including shareholders, that will sell fine jewelry and moissanite gems at a discount. That site is expected to go live Wednesday morning online here.
Net sales during the quarter that ended March 31 rose to $2.85 million, up 15 percent from the same quarter a year earlier. International sales rose 60 percent, as the company added a new retail customer in India, chief financial officer Timothy Krist said.
Net income was $298,000, reversing a loss of $1.28 million.
Charles & Colvard shares, which have more than quadrupled in the past year, fell 2 cents today to close at $1.66. The company released its latest financial results after the close of regular trading.
The company has cut costs and jobs during the past several years to offset slowing sales. It now employs 26 people.