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Moissanite Sales Are Down, Again.
Profits for Charles & Colvard Ltd., creator of MOISSANITE, more than halved during the second quarter of 2007 as sales were affected by a weak overall jewelry market the company concluded.
Net income stood at $529,000 for the quarter, representing a 52 percent decline compared with April through June 2005. Sales fell 11 percent to $7.6 million.
The North Carolina-based company said it expects sales trends to strengthen in the second half of 2007 as retailers accelerate their rollout for the holiday season. Despite this, Charles & Colvard lowered its annual revenue expectations to between $35 million and $38 million, from its prior prediction of $45 million to $48 million.
Might just be that consumers want the real (diamond) thing instead of simulant that gives off a greenish hue!
Stay tuned.
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