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.
Assistant Business Editor Alan M. Wolf joined the N&O in 1999 covering the business of health care. He became an editor in 2001, and helps oversee the paper's daily business coverage and Sunday Work&Money section. He lives in Clayton with his wife and two children. Reach him at 919-829-4572 or