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- CTHR Delivered 67% EPS Growth in Most Recent Fiscal Quarter -
- Millennial Interest in Sustainable Products Pushes Growth of CTHR E-commerce Sales -
RESEARCH TRIANGLE PARK, N.C., Feb. 28, 2019 (GLOBE NEWSWIRE) -- Charles & Colvard, Ltd. (CTHR), the original and leading worldwide source of created moissanite, announced that Charles & Colvard was featured in a Nasdaq Spotlight interview with Suzanne Miglucci, President and CEO.
The interview was conducted at the Nasdaq MarketSite on Tuesday, February 26, 2019 and is now available on Nasdaq’s Facebook and YouTube channels and on Charles & Colvard’s investor homepage and YouTube channel.
Commenting on the interview, Suzanne Miglucci, President and CEO of Charles & Colvard, said, “We appreciated the opportunity to highlight how Charles & Colvard is leading an e-commerce revolution in the jewelry industry by delivering a brilliant product at an extraordinary value, balanced with environmental and social responsibility. We believe Charles & Colvard is well-positioned to be a disruptor and leader of change in our industry. Our strategic focus and operational excellence led to robust financial performance in Q2 Fiscal 2019, with strong revenue growth of 19%, $30 million of trailing 12-month net sales, gross margin of 47%, 67% EPS growth, positive cash flow and consecutive quarterly profitability.”
Highlights from the interview included a description of the Company’s omni-channel distribution approach and a summary of key business drivers.
Charles & Colvard products are available in many places online and at retail partner stores so that customers may research and buy products however they want. Consumers expect to move seamlessly between physical and digital worlds, leveraging technology and personal connections with brands, products and retailers. The omni-channel strategy is designed to provide the Company with balanced, diversified sources of revenue.
Key Business Drivers
- Large and expanding market for lab-created gemstones;
- High quality & sustainable product;
- Strong appeal to millennials;
- Scalable Online Channel growth; and
- Opportunity for increased global expansion.
About Charles & Colvard, Ltd.
Charles & Colvard (CTHR) believes luxury can be beautiful and conscientious. As an e-commerce-driven business, the Company uses innovative technology and sustainable practices to lead a revolution in the jewelry industry. As the original pioneer of lab-created moissanite, a rare gemstone formed from silicon carbide, Charles & Colvard delivers a brilliant product at a revolutionary value that meets the needs of today’s discerning customer. Jewelry consumers seek Charles & Colvard products because of their exceptional quality as well as their environmental and social responsibility. Charles & Colvard was founded in 1995 and is based in the Research Triangle Park, North Carolina. For more information, please visit www.charlesandcolvard.com.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements expressing expectations regarding our future and projections relating to our products, sales, revenues, and earnings are typical of such statements and are made under the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements about our plans, objectives, representations, and contentions and are not historical facts and typically are identified by use of terms such as “may,” “will,” “should,” “could,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “continue,” and similar words, although some forward-looking statements are expressed differently.
All forward-looking statements are subject to the risks and uncertainties inherent in predicting the future. You should be aware that although the forward-looking statements included herein represent management’s current judgment and expectations, our actual results may differ materially from those projected, stated, or implied in these forward-looking statements as a result of many factors including, but not limited to, our dependence on consumer awareness, acceptance, and growth of sales of our products resulting from our strategic initiatives; the impact of the execution of our business plans on our liquidity; our ability to fulfill orders on a timely basis; our ability to maintain compliance with The Nasdaq Stock Market’s continued listing requirements; intense competition in the worldwide gemstone and jewelry industry; the financial condition of our major customers and their willingness and ability to market our products; dependence on a limited number of distributor and retail partners in our Traditional segment; dependence on our exclusive supply agreement with Cree, Inc., for the supply of our silicon carbide, or SiC, crystals; general economic and market conditions, including the current economic environment; quality control challenges from time to time that can result in lost revenue and harm to our brands and reputation; the potential impact of seasonality on our business; the impact of natural disasters on our operations; the pricing of precious metals, which is beyond our control; the impact of significant changes in e-commerce opportunities, technology, or models; the risk of a failure of our information technology infrastructure to protect confidential information and prevent security breaches; our current customers’ potential perception of us as a competitor in the finished jewelry business; risks of conducting business in foreign countries; the potential adverse effect of December 2017 U.S. tax legislation; our ability to protect our intellectual property; the potential adverse impact of negative or inaccurate social media commentary; the failure to evaluate, implement, and integrate strategic opportunities; possible adverse effects of governmental regulation and oversight; and the impact of anti-takeover provisions included in our charter documents, in addition to the other risks and uncertainties described in our filings with the Securities and Exchange Commission, or the SEC, including our Transition Report on Form 10-KT for the transition period ended June 30, 2018 and subsequent reports filed with the SEC. Forward-looking statements speak only as of the date they are made. We undertake no obligation to update or revise such statements to reflect new circumstances or unanticipated events as they occur except as required by the federal securities laws, and you are urged to review and consider disclosures that we make in the reports that we file with the SEC that discuss other factors relevant to our business.
Clint J. Pete
Chief Financial Officer