Moissanite gemstone maker Charles & Colvard announced today that its preliminary net sales increased more than 90 percent in the fourth quarter over the same period in 2010.
The Morrisville company had sales of $3.5 million in the fourth quarter of 2010.
"Our preliminary results for the fourth quarter are very encouraging as we focus on growing our company in 2012," CEO Randy McCullough said in a release.
Charles & Colvard initiated a series of marketing and branding initiatives last year, including selling finished jewelry products directly to consumers at its moissanite.com website. That site launched in the third quarter.
Increased marketing and sales expenses were the primary drivers in a 35 percent increase in operating expenses during the third quarter.
Charles & Covard's revenue in the third quarter fell 4 percent to $2.9 million. When the company announced those results in late October, it said fourth quarter sales were $1.7 million about one-third of the way through the fourth quarter.
The company's stock closed at $2.77 on Monday. The shares are flat over the past year.
Business reporter David Bracken came to the N&O in 2004. He covers commercial and residential real estate. Contact David at 919-829-4548 or