Sales at moissanite producer Charles & Colvard plunged and losses doubled in the first quarter of 2008 as economic conditions in the United States caused consumers to hold-back spending. Charles & Colvard said net sales fell 41 percent to $5.8 million during the three months. Operating losses widened to $1.1 million, almost double from one year ago. Company net loss was $698,000, compared with a loss of  $339,000 in first quarter 2007.

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