RIDGEFIELD PARK, N.J.,
July 17, 2017 /PRNewswire/
-- CCA Industries, Inc. (NYSE MKT: CAW) announced today its
results for the second quarter and six months ended May 31, 2017, which can be found in the table
below.
Total net income increased to $698,550 for the three months ended May 31, 2017 from income of $423,677 for the same period in fiscal
2016. Earnings before interest, taxes, depreciation and
amortization ("EBITDA") was $1,260,896 for the quarter as compared to
$882,826 for the same period in
fiscal 2016, an increase of 42.8%. Lance Funston, Chief Executive Officer, commented, "We have now reported six
profitable quarters in a row. A significant portion of the
Company's cash generated from operations for fiscal 2016 and for
the first two quarters of fiscal 2017 have been utilized to reduce
liabilities, most of which were from the restructuring plan and old
media bills incurred in fiscal 2015. Almost all of those
liabilities have now been paid off which will enable the Company to
devote its positive cash flow towards growing our brands and making
additional acquisitions. We will discuss more of our plans
tomorrow when we hold our first quarterly investor phone
call. Investors may phone (844) 513-9330 or 814-312-7426 to
participate in the call. 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, 2017
(unaudited)
|
|
May 31,
2016
(unaudited)
|
|
|
|
|
|
Revenues
|
|
$
6,115,910
|
|
$
5,679,751
|
|
|
|
|
|
Net Income from
Continuing Operations
|
|
$
698,550
|
|
$
430,989
|
Net (Loss) on
Discontinued Operations
|
|
$
-
|
|
$
(7,312)
|
Total Net
Income
|
|
$
698,550
|
|
$
423,677
|
|
|
|
|
|
Earnings per
Share:
|
|
|
|
|
Basic
|
|
|
|
|
Continuing
Operations
|
|
$
0.10
|
|
$
0.06
|
Discontinued
Operations
|
|
$
0.00
|
|
$
0.00
|
|
|
$
0.10
|
|
$
0.06
|
|
|
|
|
|
Earnings per
Share:
|
|
|
|
|
Diluted
|
|
|
|
|
Continuing
Operations
|
|
$
0.10
|
|
$
0.06
|
Discontinued
Operations
|
|
$
0.00
|
|
$
0.00
|
|
|
$
0.10
|
|
$
0.06
|
|
|
|
|
|
Weighted Average
Shares Outstanding:
|
|
|
|
|
Basic
|
|
7,006,684
|
|
7,006,684
|
Diluted
|
|
7,024,428
|
|
7,126,333
|
|
|
Six Months
Ended
|
|
|
May 31,
2017
(unaudited)
|
|
May 31,
2016
(unaudited)
|
|
|
|
|
|
Revenues
|
|
$
10,385,060
|
|
$
10,364,195
|
|
|
|
|
|
Net Income from
Continuing Operations
|
|
$
885,301
|
|
$
639,987
|
Net (Loss) on
Discontinued Operations
|
|
$
-
|
|
$
(12,935)
|
Total Net
Income
|
|
$
885,301
|
|
$
627,052
|
|
|
|
|
|
Earnings per
Share:
|
|
|
|
|
Basic
|
|
|
|
|
Continuing
Operations
|
|
$
0.13
|
|
$
0.09
|
Discontinued
Operations
|
|
$
0.00
|
|
$
0.00
|
|
|
$
0.13
|
|
$
0.09
|
|
|
|
|
|
Earnings per
Share:
|
|
|
|
|
Diluted
|
|
|
|
|
Continuing
Operations
|
|
$
0.13
|
|
$
0.09
|
Discontinued
Operations
|
|
$
0.00
|
|
$
0.00
|
|
|
$
0.13
|
|
$
0.09
|
|
|
|
|
|
Weighted Average
Shares Outstanding:
|
|
|
|
|
Basic
|
|
7,006,684
|
|
7,006,684
|
Diluted
|
|
7,006,684
|
|
7,088,115
|
|
Three months
ended
|
|
Six months
ended
|
Reconciliation of
EBITDA
|
May 31,
2017
|
May 31,
2016
|
|
May 31,
2017
|
May 31,
2016
|
to Net
Income:
|
(unaudited)
|
(unaudited)
|
|
(unaudited)
|
(unaudited)
|
|
|
|
|
|
|
Net income
|
$
698,550
|
$
423,677
|
|
$
885,301
|
$
627,052
|
Interest
expense
|
123,077
|
197,216
|
|
274,238
|
341,543
|
Provision for income
tax
|
415,454
|
242,862
|
|
528,094
|
371,559
|
Depreciation &
Amortization
Expense
|
23,815
|
19,071
|
|
45,758
|
39,113
|
EBITDA
|
$
1,260,896
|
$
882,826
|
|
$
1,733,391
|
$
1,379,267
|
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SOURCE CCA Industries, Inc.