Charles & Colvard Ltd. said its first-quarter normalized net income came to a loss of 5 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 5 cents per share.
The per-share loss increased 29.3% year over year from 4 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $920,300, compared with a loss of $715,250 in the prior-year period.
The normalized profit margin rose to negative 3.9% from negative 11.8% in the year-earlier period.
Total revenue increased 38.1% year over year to $8.4 million from $6.1 million, and total operating expenses increased 36.6% on an annual basis to $9.8 million from $7.2 million.
Reported net income came to a loss of $1.6 million, or a loss of 8 cents per share, compared to a loss of $1.0 million, or a loss of 5 cents per share, in the year-earlier period.
