SOURCE: Charles & Colvard, Ltd.

Charles & Colvard, Ltd.

June 29, 2011 08:28 ET

Charles & Colvard Appoints Robert Curry Vice President - Merchandise, Production and Distribution

MORRISVILLE, NC--(Marketwire - Jun 29, 2011) - Charles & Colvard, Ltd. (NASDAQ: CTHR), the sole manufacturer of created moissanite gemstones, The Most Brilliant Jewel in the World®, today announced that Robert Curry has joined the Company's management team as Vice President - Merchandise, Production and Distribution.

"We are very pleased to announce the addition of Robert Curry to our management team," stated Randy N. McCullough, Chief Executive Officer of Charles & Colvard, Ltd. "Our Company is in the midst of developing and launching a number of exciting sales and marketing initiatives that we believe will significantly increase future sales of created moissanite gemstones and moissanite jewelry. In order to manage this anticipated sales growth most efficiently, it is important for Charles & Colvard to assure that its support infrastructure is dynamic and able to meet the expanding needs of customers, manufacturers, vendors, and other strategic partners. We are confident that Robert Curry's more than 25 years of experience in jewelry merchandising, manufacturing and distribution will allow him to enhance and optimize our production, sourcing, fulfillment, and systems management in a timely and cost-efficient manner."

Mr. Curry was most recently a General Manager for Shopko, a $2.2 billion retailer of quality name-brand and private-label merchandise and services that operates over 140 stores in small-to-mid-sized cities. Prior to that, he served for over 10 years as Vice President of Merchandising and Distribution for Samuels Jewelers, Inc., an operator of 150+ retail jewelry stores. Earlier in his career, Mr. Curry served for 12 years as Production Manager at NOVA/MWI, a major jewelry manufacturer.

Mr. Curry earned his certification as a Graduate Gemologist from the Gemological Institute of America in 1984.

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® is 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 access www.moissanite.com or www.charlesandcolvard.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; our dependence on third parties for the sales and marketing of our products to end consumers; dependence on a limited number of customers; our current customers' potential perception of us as a competitor as we enter 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; our ability to protect our intellectual property; 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, 2010 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.

Contact Information

  • Company Contact:
    Timothy Krist
    Chief Financial Officer
    919.468.0399, ext. 295
    Email Contact

    Investor Relations:
    R. Jerry Falkner, CFA
    RJ Falkner & Company
    800.377.9893
    Email Contact