Synthetic gem builder Charles & Colvard continues to struggle, but the ultimate quarterly formula expelled this sunrise do show signs of improvement.
The Morrisville manufacturer of moissanite posted a fourth-quarter loss of $440,000, or 2 cents per share, contra a loss of $1.3 million a year ago.
Sales for the fourth entertain totaled $2.4 million. That noted a 33 percent decrease from a year ago, but at the same time sales were 10 percent higher than in the third quarter.
The bum economy has vexed direct for moissanite and alternative jewelry.
The fourth-quarter loss was the companys smallest loss in 2009. In addition, the association generated certain money upsurge from operations in the quarter, CEO Randy N. McCullough pronounced in a statement.
"This momentum, along with a clever money position, will lift us in to 2010 as the government group functions closely with name vital valuables manufacturers to settle new disdainful supply relationships," McCullough said. McCullough was declared CEO in Nov -- the fifth senior manager to pretence the tip mark over an 18-month span.
Charles & Colvard had $7.4 million in money at the finish of the quarter.
For the full year 2009, Charles & Colvard posted a loss of $3.4 million, compared to a $6.2 million loss in 2008. Sales totaled $8.3 million, down from $14.7 million in 2008.
The association expelled the gain this sunrise prior to the markets opened. On Wednesday shares sealed at $1.42, down 1 cent. Shares have risen twenty-two percent this year.
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