CCA Industries, Inc. Reports Third Quarter Earnings and Declares $0.09 Dividend for the Fourth Quarter
EAST RUTHERFORD, N.J., Oct. 4 /PRNewswire-FirstCall/ -- CCA Industries, Inc. (Amex: CAW), announced today that for the three months ended August 31, 2007, revenues were $14,266,083, net income was $2,069,604, earnings per share were $0.29 per share fully diluted as compared with last year's third quarter revenues of $15,996,688, net income of $1,927,476 and earnings per share of $0.27 fully diluted.
Revenues for the nine-month period were $46,551,224 as compared to $49,502,972 in the prior year. Net income for the nine-month period was $3,835,276 as compared to net income of $4,703,362 for the same period last year. Earnings per share were $0.54 fully diluted as compared to $0. 66 earnings per share fully diluted for the previous year's nine-month period.
As previously advised, the nine months earnings were impacted by transactional expenses of $717,850 related to the proposed acquisition not consummated.
"Because of the Company's very strong balance sheet with free cash and marketable securities of $19,994,062 and a $25 million unsecured line of credit which has not been drawn down, the Board of Directors declared a $0.09 per share dividend to all shareholders of record November 1, 2007 payable on December 1, 2007, a 28.6% increase over the dividend paid last year for the fourth quarter. This is the fourteenth consecutive dividend paid by the Company," stated David Edell, CEO and Director.
"We are very enthusiastic about the new and exciting innovative products that we will be introducing to our accounts for additions to their planograms commencing in the first quarter of the new year. I believe that with the professional additions to our management team and the new product introductions, we are looking forward to a very successful fiscal new year," stated Dunnan Edell, President.
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, "Mega-T" Green Tea diet supplements, "Mega-T" Green Tea gum and mint products, "Bikini Zone" medicated topicals and shave gels, "Nutra Nail" nail care treatments, "Scar Zone" scar treatment products, "Sudden Change" anti-aging skin care products, "Parfume de Vanille" fragrances, "Solar Sense" sun protection products, "Hair Off" hair removal and depilatory products, and "Wash 'N Curl" shampoos and conditioners.
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.
CCA INDUSTRIES, INC. THIRD QUARTER AND NINE-MONTH EARNINGS NEWS RELEASE Quarter Ended August 31, 2007 August 31, 2006 Revenue $14,266,083 $15,996,688 Net Income $ 2,069,604 $ 1,927,476 Per Share Earnings Basic $0.29 $0.28 Diluted $0.29 $0.27 Weighted Average Shares Outstanding Basic 7,054,442 6,981,224 Diluted 7,074,796 7,079,258 Nine Months Ended August 31 Revenues $46,551,224 $49,502,972 Net Income $ 3,835,276 $ 4,703,362 Per Share Earnings Basic $0.55 $0.67 Diluted $0.54 $0.66 Weighted Average Shares Outstanding Basic 7,021,364 7,048,902 Diluted 7,052,437 7,157,101
SOURCE CCA Industries, Inc.
Released October 4, 2007