Shares of artificial diamond marketer Charles and Colvard Ltd. rose more than 11 percent in after-hours trading after it reported at least a 36 percent increase in fourth-quarter sales.

The Research Triangle Park-based company said it will report revenues between $8.2 million and $8.5 million for the fourth quarter, compared to $6 million in revenues for the fourth quarter of 2016.

It also said it will report positive earnings for the quarter. The company lost $1 million in the fourth quarter of 2016.

The company is the first to produce and sell synthetic moissanite. Moissanite is a naturally occurring silicon carbide with various crystalline polymorphs. It is a man-made diamond that consists of actual carbon atoms arranged in a diamond crystal structure.

“We’ve engaged our target audience, they’re comfortable shopping online for moissanite products, and we’ve successfully established the consumer brand we promised when we embarked on this journey,” said CEO Suzanne Miglucci in a statement.

The company’s shares rose 14 cents, or 11.3 percent, to $1.38 in after-hours trading on Thursday.

Charles & Colvard also said it plans to expand its gemstone and jewelry offerings this year, according to a Securities and Exchange Commission filing.

The board of directors also approved a change in the company’s fiscal year from beginning on Jan. 1 to now beginning on July 1. This enables the management team to shift annual planning away from the holiday season and toward revenue-generating opportunities with customers.

The fourth quarter earnings conference call is scheduled for March 8.