RIDGEFIELD PARK, N.J.,
July 16, 2018 /PRNewswire/
-- CCA Industries, Inc. (NYSE MKT: "CAW") announced today its
results for the second quarter and six months ended May 31, 2018, which can be found in the table
below.
The Company reported a loss of $292,320 for the three months ended May 31, 2018 as compared to income of
$698,550 for the same period in
fiscal 2017. The loss in the second quarter of fiscal 2018
was due to a dispute with an international customer which resulted
in the Company taking a reserve of $479,052 lowering net sales. Lance Funston, Chief Executive Officer
commented, "We believe the Company has taken the correct approach
with the international customer and it is unfortunate that we had
to reserve for the receivable that is due to us. We are
working towards finding a new distributor for that middle eastern
region. We plan on introducing some exciting new products to
our retail partners over the next couple of months which we believe
will get our sales back on track for fiscal 2019. We
anticipate a return to profitability in the third quarter of fiscal
2018." The Company will be holding its quarterly investor
call on Tuesday, July 17, 2018 at
10 AM EDST. Investors may phone
(866) 393-4306 to participate in the call. The call may also
be accessed through a live audio web cast at:
https://event.on24.com/wcc/r/1769115/866807DA74E793DFDE2B8C88976ADF3C
Further information may also be found on the Company's investor
web site: www.ccainvestor.com
We invite any of our current or potential investors to join
us.
CCA Industries, Inc. manufactures and markets health and beauty
aids, each under its individual brand name. The products include,
principally, "Plus+White" toothpastes and teeth whiteners, "Bikini
Zone" medicated topical and shave gels, "Nutra Nail" nail care treatments, "Scar Zone"
scar treatment products, "Sudden Change" complete skin care regime,
"Porcelana" skin care products and "Solar Sense" sun protection
products.
Statements contained in the news release that are not
historical facts are forward looking statements as that term is
defined in the Private Securities Litigation Reform Act of 1995.
Such forward-looking statements are subject to risks and
uncertainties, which would cause actual results to differ
materially, from estimated results. Such risks and uncertainties
are detailed in the Company's filings with the Securities and
Exchange Commission. No assurance can be given that the results in
any forward-looking statement will be achieved and actual results
could be affected by one or more factors, which could cause them to
differ materially. For these statements, we claim the protection of
the safe harbor for forward-looking statements contained in the
Private Securities Litigation Reform Act.
|
CCA INDUSTRIES,
INC.
|
|
|
|
|
|
Three Months
Ended
|
|
|
May 31,
2018
(unaudited)
|
|
May 31,
2017
(unaudited)
|
|
|
|
|
|
|
Revenues
|
|
$
|
4,225,240
|
|
$
|
6,115,910
|
|
|
|
|
|
|
Net (Loss)
Income
|
|
$
|
(292,320)
|
|
$
|
698,550
|
|
|
|
|
|
|
(Loss) Earnings per
Share:
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
$
|
(0.04)
|
|
$
|
0.10
|
|
Diluted
|
|
$
|
(0.04)
|
|
$
|
0.10
|
|
|
|
|
|
|
Weighted Average
Shares Outstanding:
|
|
|
|
|
|
Basic
|
|
7,456,684
|
|
7,006,684
|
|
Diluted
|
|
7,456,684
|
|
7,024,428
|
|
|
|
|
|
|
|
|
Six Months
Ended
|
|
|
May 31,
2018
(unaudited)
|
|
May 31,
2017
(unaudited)
|
|
|
|
|
|
|
Revenues
|
|
$
|
8,223,664
|
|
$
|
10,385,060
|
|
|
|
|
|
|
Net (Loss)
Income
|
|
$
|
(3,512,980)
|
|
$
|
885,301
|
|
|
|
|
|
|
(Loss) Earnings per
Share:
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
$
|
(0.48)
|
|
$
|
0.13
|
|
Diluted
|
|
$
|
(0.48)
|
|
$
|
0.13
|
|
|
|
|
|
|
|
|
|
|
|
Weighted Average
Shares Outstanding:
|
|
|
|
|
|
Basic
|
|
7,293,497
|
|
7,006,684
|
|
Diluted
|
|
7,293,497
|
|
7,006,684
|
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SOURCE CCA Industries, Inc.
