CCA INDUSTRIES, INC. FOR IMMEDIATE RELEASE
CCA Industries, Inc. Reports Second Quarter 2017 Results
Ridgefield Park, NJ, July 17, 2017: 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 |
CCA Industries Inc. published this content on 17 July 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 17 July 2017 21:57:06 UTC.
Original documenthttp://www.ccainvestor.com/pdf/PR-20170717.pdf
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