{"id":429472,"date":"2021-02-04T16:19:17","date_gmt":"2021-02-04T21:19:17","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=429472"},"modified":"2021-02-04T16:19:17","modified_gmt":"2021-02-04T21:19:17","slug":"charles-colvard-reports-second-quarter-fiscal-year-2021-financial-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/charles-colvard-reports-second-quarter-fiscal-year-2021-financial-results\/","title":{"rendered":"Charles & Colvard Reports Second Quarter Fiscal Year 2021 Financial Results"},"content":{"rendered":"
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– Highest Quarterly Revenue and Income from Operations in Company’s 25 Year History<\/h2>\n

– Revenue Growth of 14% Driven by 25% Increase in Online Channels<\/h2>\n

– Gross Margin Performance of 49%<\/h2>\n

– EPS Growth of 200% to $0.09 per Share from Year-Ago Quarter<\/h2>\n

– Conference Call with Accompanying Slide Presentation Scheduled Today at 4:30 PM ET<\/h2>\n

PR Newswire<\/p>\n<\/p><\/div>\n

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\n RESEARCH TRIANGLE PARK, N.C.<\/span>, Feb. 4, 2021<\/span> \/PRNewswire\/ —\u00a0Charles & Colvard, Ltd.<\/a> (Nasdaq: CTHR) (the “Company”), a globally recognized lab created gemstone company specializing in fine jewelry, reported financial results\u00a0for the quarter ended December 31, 2020<\/span> (“Second Quarter Fiscal Year 2021”),\u00a0with net sales of $12.1 million<\/span> and net income of $2.5 million<\/span>, or $0.09<\/span> earnings per diluted share. <\/p>\n

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\n \"(PRNewsfoto\/Charles
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“We executed with purpose and precision during the critical holiday quarter, leveraging the changes that we implemented in Q1, including streamlined efficiencies, revised vendor agreements, elevated brand positioning, an expanded product line and a focused digital marketing strategy,” said Don O’Connell<\/span>, President and CEO of Charles & Colvard.<\/p>\n

“These changes allowed us to deliver a record-breaking quarter with significant net sales growth and profitability all the while maintaining a strong gross margin and disciplined operating expense levels,” continued Mr. O’Connell. “This enabled us to achieve an EPS growth of 200%.” <\/p>\n

“We’re extremely proud of these accomplishments and what we’ve achieved in the short term,” said O’Connell. “We were able to maintain our Traditional segment in the midst of a global pandemic and grow our Online Channels segment by 25%. As we look ahead, we are focused on fueling sustainable, long-term growth and profitability as we continue to execute on our strategic initiatives. We believe there is significant opportunity for Charles & Colvard to continue to grow its business in new and meaningful ways, thus capturing greater market share.” <\/p>\n

\n Recent Corporate Highlights<\/b>\n <\/p>\n