MORRISVILLE, N.C.--(BUSINESS WIRE)--Charles & Colvard, Ltd. (NASDAQ Global Select Market: CTHR), the sole manufacturer of created moissanite gemstones, The Most Brilliant Jewel in the World®, today announced that it has been named the Jewelry Television (JTV) Vendor of the Year, an annual award bestowed upon the supplier who has been an outstanding partner in all aspects of the business.
“Receiving this prestigious recognition from a top customer says a great deal about the marketability and desirability of our moissanite gem to consumers throughout the nation,” commented Randy N. McCullough, Chief Executive Officer of Charles & Colvard, Ltd. “My thanks go to our entire Charles & Colvard team for their continued commitment to outstanding performance. JTV is one of our most valued customers, and we are proud to be able to bring our broad portfolio of jewelry styles to help them better serve their consumers.”
“It is with great honor we award such an outstanding company, Charles & Colvard, with the 2012 Jewelry Television - Gemstone GBU - Vendor of the Year Award,” said Thomas J. Ahles, Director - Gemstone GBU-Jewelry Television. “Charles & Colvard has shown an exceptional commitment to growing the business in all areas. Through their partnership with JTV, we have seen considerable growth in this business year over year. In addition to the core product, the company partnered to introduce new concepts and colors, and has dedicated resources in the form of a sales team and guest hosts to ensure the success of this business. We are excited to have them as a business partner and look forward to much more success in our future.”
About Charles & Colvard, Ltd.
Charles & Colvard, Ltd., based in the Research Triangle Park area of North Carolina, is the global sole source of moissanite, a unique, near-colorless created gemstone that is distinct from other gemstones and jewels based on its exceptional fire, brilliance, luster, durability, and rarity. Charles & Colvard Created Moissanite® and Forever Brilliant® are currently incorporated into fine jewelry sold through domestic and international retailers and other sales channels. Charles & Colvard, Ltd. is headquartered in Morrisville, North Carolina, and its common stock is listed on the NASDAQ Global Select Market under the symbol “CTHR.” For more information, please visit www.charlesandcolvard.com.
About Jewelry Television
As the largest retailer of loose gemstones in the world and one of the top four electronic jewelry retailers in the United States, Jewelry Television® is realizing its mission since 1993 to open the world of fine jewelry and gemstones to everyone, every day, and remains committed to offering the largest selection of fine jewelry and gemstones at fair prices. For more information, please visit www.jtv.com.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements expressing expectations regarding our future and projections relating to products, sales, revenues, and earnings are typical of such statements and are made under the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements about our plans, objectives, representations, and contentions and are not historical facts and typically are identified by use of terms such as “may,” “will,” “should,” “could,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “continue,” and similar words, although some forward-looking statements are expressed differently.
All forward-looking statements are subject to the risks and uncertainties inherent in predicting the future. You should be aware that although the forward-looking statements included herein represent management’s current judgment and expectations, our actual results may differ materially from those projected, stated, or implied in these forward-looking statements as a result of many factors including, but not limited to, our dependence on consumer acceptance and growth of sales of our products resulting from our strategic initiatives; dependence on a limited number of customers; our current wholesale customers’ potential perception of us as a competitor in the finished jewelry business; general economic and market conditions, including the current economic environment; dependence on Cree, Inc. as the current supplier of the raw material; intense competition in the worldwide jewelry industry; the financial condition of our major customers; risks of conducting business in foreign countries; the pricing of precious metals, which is beyond our control; the potential impact of seasonality on our business; our ability to protect our intellectual property; the risk of a failure of our information technology infrastructure to protect confidential information and prevent security breaches; and possible adverse effects of governmental regulation and oversight, in addition to the other risks and uncertainties described in our filings with the Securities and Exchange Commission, or the SEC, including our Annual Report on Form 10-K for the fiscal year ended December 31, 2011 and subsequent reports filed with the SEC. Forward-looking statements speak only as of the date they are made. We undertake no obligation to update or revise such statements to reflect new circumstances or unanticipated events as they occur except as required by the federal securities laws, and you are urged to review and consider disclosures that we make in the reports that we file with the SEC that discuss other factors relevant to our business.