CTHR - Charles & Colvard GAAP EPS of -$0.03 misses by $0.02 revenue of $10.4M misses by $0.6M
- Charles & Colvard press release ( NASDAQ: CTHR ): Q2 GAAP EPS of -$0.03 misses by $0.02 .
- Revenue of $10.4M (-24.4% Y/Y) misses by $0.6M .
- Operating expenses increased 5% to $5.5 million for the quarter, compared to $5.3 million in the year-ago quarter, primarily due to increased investment in marketing strategies for the holiday season.
- Income tax benefit of $132,000 for the quarter, compared to an income tax expense of $283,000 in the year-ago quarter.
- Weighted average diluted shares outstanding were 30.3 million for the quarter, compared to 31.3 million in the year-ago quarter
- Cash, cash equivalents and restricted cash totaled $17.0 million as of December 31, 2022, representing an increase of $0.4 million from $16.6 million as of September 30, 2022, and a decrease of $4.2 million from $21.2 million as of June 30, 2022.
- Total inventory increased to $35.0 million as of December 31, 2022, compared to $33.5 million as of June 30, 2022. The Company had no debt outstanding as of December 31, 2022.
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Charles & Colvard GAAP EPS of -$0.03 misses by $0.02, revenue of $10.4M misses by $0.6M