Charles & Colvard Ltd Expects To Report Net Sales Decreased By 31% To $29.9M For Fiscal Year Ended June 30, 2023; Will Report A Net Loss For Fiscal Year Ended June 30, 2023
Portfolio Pulse from Benzinga Newsdesk
Charles & Colvard Ltd has announced that it expects to report a 31% decrease in net sales to $29.9M for the fiscal year ended June 30, 2023. The company also anticipates reporting a net loss for the same period.
September 28, 2023 | 8:32 pm
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Charles & Colvard Ltd expects to report a decrease in net sales and a net loss for the fiscal year ended June 30, 2023. This could negatively impact the company's stock price.
The company's announcement of a decrease in net sales and a net loss for the fiscal year is likely to be viewed negatively by investors, potentially leading to a decrease in the stock price. The level of impact is high due to the significance of the financial results to investors.
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