LYNDHURST, N.J., Oct. 22, 2018 /PRNewswire/ -- CCA Industries,
Inc. (NYSE AMERICAN: "CAW") announced today its results for the
third quarter and nine months ended August
31, 2018, which can be found in the table below.
The Company reported a loss of $203,672 for the three months ended August 31, 2018 as compared to income of
$377,683 for the same period in
fiscal 2017. The loss in the third quarter of fiscal 2018 was
due to several factors, including higher freight out rates and
higher digital advertising expenditures for the quarter.
Lance Funston, Chief Executive
Officer commented, "Our loss occurred primarily in the month of
June. Our internal financial statements reported profits for
the month of July and August. We plan to maintain
profitability in the fourth quarter of fiscal 2018". Due to
the loss in the third quarter of fiscal 2018, the Company was in
violation of a covenant with its lender, PNC Bank. The
Company has received a waiver of the covenant from PNC Bank for the
third quarter. The Company will be holding its quarterly
investor call on Tuesday, October 23,
2018 at 3 PM EDT.
Investors may phone (844) 513-9330 to participate in the
call. The call may also be accessed through a live audio web
cast at:
https://event.on24.com/wcc/r/1822481/15927AE1540FB3B8374BA878C4A970EB
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
and "Porcelana" skin care 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
|
|
|
August 31, 2018
(unaudited)
|
|
August 31, 2017
(unaudited)
|
|
|
|
|
|
|
Revenues
|
|
$
4,224,832
|
|
$
5,334,368
|
|
|
|
|
|
|
Net (Loss)
Income
|
|
$
(203,672)
|
|
$
377,683
|
|
|
|
|
|
|
(Loss) Earnings per
Share:
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
$
(0.03)
|
|
$
0.05
|
|
Diluted
|
|
$
(0.03)
|
|
$
0.05
|
|
|
|
|
|
|
Weighted Average
Shares Outstanding:
|
|
|
|
|
|
Basic
|
|
7,456,684
|
|
7,006,684
|
|
Diluted
|
|
7,456,684
|
|
7,165,027
|
|
|
Nine Months
Ended
|
|
|
August 31,
2018
(unaudited)
|
|
August 31, 2017
(unaudited)
|
|
|
|
|
|
|
Revenues
|
|
$
12,448,496
|
|
$
15,719,428
|
|
|
|
|
|
|
Net (Loss)
Income
|
|
$
(3,716,652)
|
|
$
1,262,984
|
|
|
|
|
|
|
(Loss) Earnings per
Share:
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
$
(0.51)
|
|
$
0.18
|
|
Diluted
|
|
$
(0.51)
|
|
$
0.18
|
|
|
|
|
|
|
|
|
|
|
|
Weighted Average
Shares Outstanding:
|
|
|
|
|
|
Basic
|
|
7,348,290
|
|
7,006,684
|
|
Diluted
|
|
7,348,290
|
|
7,006,684
|
View original content to download
multimedia:http://www.prnewswire.com/news-releases/cca-industries-inc-reports-third-quarter-2018-results-300735502.html
SOURCE CCA Industries, Inc.
