Sales up at Charles & Colvard during Q2

At the end of its second quarter this year, Charles & Colvard, creator of moissanite, clocked in sales worth $3.3 million from $1.3 million worth of sales in Q2 of 2009. Profit amounted to $336,315, while last year the company recorded loss worth $1.2 million. Also the number of its customers increased, both domestic and international.

In the second quarter this year, the company had reduced expenses, and improved profitability. Net income was worth $336,000. Total inventory (long-term and consignment) stood at $38.14 million, from $39.13 million at the end of fiscal year 2009. Trade accounts receivable valued at $2.59 million at the end of the quarter, from $1.04 million at the end of fiscal year 2009.