{"id":534107,"date":"2021-09-02T16:10:36","date_gmt":"2021-09-02T20:10:36","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/charles-colvard-reports-fourth-quarter-and-full-fiscal-year-2021-financial-results\/"},"modified":"2021-09-02T16:10:36","modified_gmt":"2021-09-02T20:10:36","slug":"charles-colvard-reports-fourth-quarter-and-full-fiscal-year-2021-financial-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/charles-colvard-reports-fourth-quarter-and-full-fiscal-year-2021-financial-results\/","title":{"rendered":"Charles & Colvard Reports Fourth Quarter and Full Fiscal Year 2021 Financial Results"},"content":{"rendered":"
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– $9.7 Million in Net Sales, $1.1 Million in Income from Operations for Q4 2021<\/h2>\n

– $8.4 Million in Net Income or $0.27 Earnings Per Diluted Share in Q4 2021<\/h2>\n

– $39.2 Million in Net Sales, $5.5 Million in Income from Operations for Fiscal 2021<\/h2>\n

– $12.8 Million in Net Income or $0.42 Earnings Per Diluted Share in Fiscal 2021<\/h2>\n

– $1.8 Million in Cash Flow from Operations in Q4 2021<\/h2>\n

– Total Cash of $21.4 Million as of June 30, 2021, a 47% Increase Year-Over-Year<\/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>, Sept. 2, 2021<\/span> \/PRNewswire\/ —\u00a0Charles & Colvard, Ltd.<\/a> (Nasdaq: CTHR) (the “Company”), a globally recognized fine jewelry company specializing in lab created gemstones, reported financial results\u00a0for the fourth quarter and full fiscal year ended June 30, 2021<\/span> (“Fiscal 2021”).\u00a0<\/p>\n

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\n \"(PRNewsfoto\/Charles
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For the fourth quarter of Fiscal 2021, the Company reported net sales of $9.7 million<\/span>, a 120% increase over the year-ago quarter.\u00a0 Income from operations was $1.1 million<\/span>.\u00a0 Net income was $8.4 million<\/span>, or $0.27<\/span> earnings per diluted share.\u00a0 Online Channels net sales were $5.6 million<\/span>, which was an 86% increase over the year-ago quarter.\u00a0 Traditional net sales were $4.2 million<\/span>, which was a 189% increase over the year-ago quarter.\u00a0 Finished jewelry net sales for the quarter were $5.6 million<\/span>, which was an increase of 86% to the year-ago quarter, and loose jewels net sales were $4.1 million<\/span>, for a 190% increase over the year-ago quarter.\u00a0\u00a0<\/p>\n

For the fiscal year ended June 30, 2021<\/span>, the Company reported net sales of $39.2 million<\/span>, for a 34% increase over the prior fiscal year.\u00a0 Income from operations was $5.5 million<\/span> for Fiscal 2021.\u00a0 Net income was $12.8 million<\/span>, or $0.42<\/span> earnings per diluted share.\u00a0 Online Channels net sales were $23.2 million<\/span>, representing a 40% increase over the year-ago period.\u00a0 Traditional net sales were $16.0 million<\/span>, representing an increase of 28% over the prior fiscal year.\u00a0 Finished jewelry net sales totaled $24.4 million<\/span> for Fiscal 2021, or a 45% increase over fiscal 2020, and loose jewels net sales were $14.8 million<\/span> for Fiscal 2021, an increase of 20% over the year-ago period.<\/p>\n

“I’m pleased to report this quarter that we continued to execute successfully on our core strategies and to make further strides towards building our global brand,” said Don O’Connell<\/span>, President and CEO of Charles & Colvard. “We’ve experienced sequential growth quarter-over-quarter, and a 120% increase in revenue compared to the year-ago quarter.\u00a0 We’re excited about the growth that our Caydia\u00ae<\/sup> lab grown diamond brand is bringing to Charles & Colvard’s overall market opportunity.”<\/p>\n

“We were able to increase both our Online Channels and Traditional segments by 86% and 189% respectively compared to the year-ago quarter, which included expanding our finished jewelry net sales 86% and our loose jewels net sales by 190% compared to the year-ago quarter.\u00a0 We continued to strive to elevate shareholder value as evidenced by the more than 300% increase in our stock price year-over-year.\u00a0 Looking ahead, we intend to continue to execute on our strategic initiatives:\u00a0 expanding our brand presence, enhancing customer engagement, and focusing on design and product development, all the while utilizing innovative, technology to drive disciplined, top-line growth,” concluded Mr. O’Connell.<\/p>\n

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