House of Taylor Jewelry, Inc. today reported that net sales for its second quarter ended June 30, 2007 nearly doubled to $4.8 million from $2.5 million during the same period last year. According to HOTJ, this reflects increased sales of the company’s branded products and loose diamonds sales of $3.5 million.
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The company’s gross profit as a percentage of net sales more than doubled to 15.9 percent, from 7 percent in 2006. Second quarter gross profit increased to $764,000, up from $174,000 in the same period of 2006.
For the first half of 2007, net sales more than doubled to $9.3 million compared to $3.8 million for the first half of 2006. Gross profit as a percentage of sales rose significantly to 13.6 percent from 4.8 percent year-over-year. First half gross profit was $1.3 million, up from $184,000 last year.
“The favorable results reflect the company’s improved operating performance, as well as continued execution of our business strategies,”
said President and CEO Jack Abramov
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