Annual report pursuant to Section 13 and 15(d)

Quarterly Results

v2.4.0.8
Quarterly Results
 12 Months Ended
Nov. 30, 2013
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Results
QUARTERLY RESULTS
The following financial data is a summary of the quarterly results of operations (unaudited) during and for the years ended November 30, 2013 and 2012:

 
 
Three Months Ended
Fiscal 2013
 
Feb. 28
 
May 31
 
Aug. 31
 
Nov. 30
Net Sales
 
11,796,951

 
11,206,480

 
9,742,827

 
6,043,335

Total Revenue
 
11,799,649

 
11,262,212

 
9,734,911

 
6,056,615

Cost of Products Sold
 
5,530,303

 
5,504,363

 
5,060,168

 
6,182,324

Gross Profit (Loss)
 
6,266,648

 
5,702,117

 
4,682,659

 
(138,989
)
Net (Loss)
 
(1,015,390
)
 
(156,836
)
 
(792,892
)
 
(4,228,130
)
(Loss) Per Share:
 
 
 
 
 
 
 
 
Basic
 
(0.14
)
 
(0.02
)
 
(0.11
)
 
(0.60
)
Diluted
 
(0.14
)
 
(0.02
)
 
(0.11
)
 
(0.60
)
During the fourth quarter of fiscal year 2013, the Company increased its inventory obsolescence reserve by $2,358,697, the majority of which was due to the Company's Gel Perfect Nail Care products.

 
 
Three Months Ended
Fiscal 2012
 
Feb. 29
 
May 31
 
Aug. 31
 
Nov. 30
Net Sales
 
$
13,531,070

 
$
14,596,899

 
$
13,775,461

 
$
11,265,592

Total Revenue
 
13,688,247

 
14,710,472

 
14,003,207

 
11,373,749

Cost of Products Sold
 
6,008,346

 
6,319,109

 
5,736,175

 
5,155,421

Gross Profit
 
7,522,724

 
8,277,790

 
8,039,286

 
6,110,171

Net Income (Loss)
 
$
87,534

 
$
302,100

 
$
428,747

 
$
(352,929
)
Earnings (Loss) Per Share:
 
 
 
 
 
 
 
 
Basic
 
$
0.01

 
$
0.04

 
$
0.06

 
$
(0.05
)
Diluted
 
$
0.01

 
$
0.04

 
$
0.06

 
$
(0.05
)