Moissanite gemstone maker Charles & Colvard reported a net loss in the first quarter despite sales increasing 40 percent to $4.2 million.

The Morrisville company reported a net loss of $376,000, or 2 cents per share, compared to a net loss of $236,000, or 1 cent per share, in the first quarter of 2011.

Operating expenses increased 53 percent in the quarter, driven mostly by increased marketing costs.

The company said it has also added personnel to support its effort to sell finished jewelry products directly to consumers at its website www.moissanite.com.
 
Charles & Colvard initiated a series of marketing and branding initiatives last year that have helped boost sales of its finished jewelry.

The company's largest customer is Jewelry Television. In a release, CEO Randy McCullough said sales of finished jewelry accounted for all of the company's revenue increase in the first quarter.

"We expect our finished jewelry business to continue to grow, and in addition, our ability to produce jewelry supports all of our customer direct initiatives," he said.

Charles & Colvard's stock, which closed at $4.42 on Friday, is up 70 percent this year.

Moissanite gemstone maker Charles & Colvard reported revenue of $1.8 million, or 9 cents per diluted share, in the fourth quarter as sales more than doubled compared to the same period in 2010.

The Morrisville company had net income of $1.6 million for the year, the same as it recorded in 2010.

Net sales in the fourth quarter were $7.2 million, up from $3.5 million during the same period in 2010.

Charles & Colvard's stock jumped 11 percent in a single day in late January after the company announced that net sales would be considerably higher in the fourth quarter.
 

Moissanite gemstone maker Charles & Colvard announced today that its preliminary net sales increased 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.
 

The maker of moissanite gemstones reported a decline in sales and profit during the second quarter.

But officials with Morrisville-based Charles & Colvard are optimistic about new efforts to boost sales. That includes more shows on home-shopping TV networks devoted to moissanite jewelry and the company's direct-to-consumer web site.

Also, Charles & Colvard plans to begin testing home parties later this year to build sales.

Moissanite is a lab-made gem that's used in fine jewelry. Some are sold through retailers such as Kohl's, but sales have suffered in recent years as consumers cut spending on discretionary items.

"On a longer-term basis, we remain confident in our belief that moissanite is destined to significantly expand its share of the $120 billion global jewelry market," CEO Randy McCullough said in a prepared statement.

Charles & Colvard, which continues to rebuild its business, now is trying to attract renewed attention from Wall Street.

The Morrisville-based maker of moissanite gemstones announced this morning it has hired RJ Falkner, an investment research and financial communications firm. Falkner works with companies "to broaden their exposure within the investment community and expand the level of interest among investment professionals."

Charles & Colvard fell out of favor in 2008 and 2009 as it lost money, replaced management and revamped its operations. Its shares tanked, closing as low as 19 cents two years ago. No Wall Street analysts currently follow the stock, according to Bloomberg data.

The Morrisville company that sells lab-made moissanite gemstones reported its third consecutive profitable quarter.

Charles & Colvard announced this afternoon that third-quarter sales rose to $3 million, up 40 percent from a year earlier. The company's net income of $511,952 reversed a net loss of $569,367.

The company, which was hit hard as consumers cut back on discretionary spending during the recession, has slowly rebuilt its sales by adding new retailers in the U.S. and overseas. Its gems are used in fine rings, necklaces and other fine jewelry.

Charles & Colvard sold more of its lab-made gemstones during the second quarter, as the company continues to improve its financial health.

The Morrisville-based company reported net sales of $3.33 million during the period, more than double the sales a year earlier. Net income was $336,000, reversing a loss of $1.24 million last year.

CEO Randy N. McCullough, who joined Charles & Colvard last fall, has led an effort to boost sales in the U.S. and overseas that were hurt by the recession and weaker consumer demand for fine jewelry. The company added a Russian retailer as a customer during the quarter, its first in that country.

"We have been hard at work during the first half of 2010 to increase sales, reduce expenses and improve profitability," he said in a prepared statement.

The company's stock, which traded at 42 cents a year ago, rose 11 cents today to close at $2.87.

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.

Charles & Colvard investors got some good news this morning: Its stock won't be delisted from the Nasdaq.

The Morrisville maker of moissanite gemstones faced delisting because its shares had fallen below the required minimum price of $1. But Charles & Colvard took several steps to boost its the price, including announcing plans to buy back 1 million shares.

Executives, including new CEO Randy McCullough, also began buying shares on the open market.

The efforts helped. The stock closed above $1 for 10 consecutive trading days and the company received word from the Nasdaq that its shares were back in compliance.

Several Charles & Colvard executives, including its new CEO, are buying thousands of company shares, part of an effort to boost the stock price and avoid being delisted.

That move, coupled with Charles & Colvard's announcement last week that it plans to buy back 1 million shares, might work.

On Wednesday, the shares closed at $1.09, up 17 cents. That was the first time the stock has closed above $1 since July 2008.

Charles & Colvard shares began trading publicly in Nov. 1997. The stock surged above $25 in late 2005, but has fallen sharply since then.

The Morrisville company has reported that it expects to receive a notice of delisting from the Nasdaq on Dec. 2 if its stock doesn't get back above the required minimum price of $1.

The company's shares have suffered as sales of its man-made moissanite gems used in jewelry have slumped during the recession.

Corporate insiders buying stock can be a signal to other investors that they think the stock is undervalued and poised to rise.