Moissanite jewels maker Charles & Colvard plans to expand distribution base

29 Jun '05
2 min read

Jewelry maker Charles & Colvard Ltd provided an update increasing estimated sales over its previously given second quarter 2005 sales guidance and announced that it was selected for inclusion by the Russell 3000(R) Index when the broadmarket index was reconstituted June 24, 2005.

Sales Guidance
According to Bob Thomas, President and Chief Executive Officer of Charles & Colvard, "We are delighted to see a pickup in billings.

Based upon customer orders and indications, we are increasing our preliminary sales estimate for the second quarter 2005 from the previously announced range of between $7.7 million and $8.4 million to our new estimate of between $9.0 million and $9.5 million or approximately 105% to 116% ahead of last year's $4.4 million.

We continue to work hard with all of our manufacturing and distribution partners to expand our distribution base."
Russell 3000 Index

"We are very pleased to join the select group of companies included in the Russell 3000(R) Index that are widely recognized as main-stream investment alternatives for institutional investors and index fund managers," said Bob Thomas.

Membership in one of Russell's equity indexes is determined primarily by market capitalization rankings rather than by subjective opinion or committee decisions. Russell indexes act as a performance standard for active managers, serve as a proxy for asset allocation purposes and become a purchasable and replicable vehicle for passive investment strategy.

Russell 3000(R) Index measures the performance of the 3,000 largest U.S. companies based on total market capitalization.

One and only moissanite jewels maker Charles & Colvard, based in the Research Triangle Park area of North Carolina, is the sole source of moissanite, a created jewel used in fine jewelry. Moissanite is near colorless, with more fire, brilliance and luster than a fine diamond, but retails for only a fraction of the cost.

Charles & Colvard Ltd

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