Charles & Colvard Q4 Sales Expected to Rise 30 - 40%

Based upon customer orders and other indications, moissanite maker Charles & Colvard expects fourth quarter sales of $11.3 - $12.2 million, a 30 – 40 percent increase compared to last year's fourth quarter sales of $8.7 million.

According to Bob Thomas, Charles & Colvard’s president and CEO, test programs with Helzberg Diamonds and Gordon's Jewelers are promising for 2006. “Our efforts with Helzberg Diamonds in the previously announced test program have resulted in Helzberg deciding to begin an in-case program of fine moissanite jewelry in the first quarter of 2006,” Thomas said.

Moissanite jewelry will be offered at 40 Helzberg locations during the quarter, with additional locations added if the initial rollout is successful.

Gordon's Jewelers, a division of the Zale corporation, decided to continue the test distribution of moissanite in the first quarter of 2006.

“Harry Ritchie, an upscale 3rd generation regional jewelry chain with 28 outlets in the Northwest has successfully introduced moissanite in each of their locations during the past three months,” Thomas added.

“Our sales and marketing efforts in 2006 will focus on helping existing moissanite retailers more fully develop and grow their moissanite businesses as opposed to the previous focus of adding new retail doors.”

These efforts include increased advertising, a new PR effort, continuous sales training for sales associates at retail partners, and individually tailored promotional efforts for specific retailers.

“Our revenue goal for 2006 is to grow revenues by an amount roughly equal to the absolute dollar amount of our growth in 2005,” Thomas said in a release.