CCA Industries, Inc. Announces Record Earnings for Fourth Quarter 2007
EAST RUTHERFORD, N.J., Feb. 5 /PRNewswire-FirstCall/ -- CCA Industries, Inc. (Amex: CAW) announced record earnings for the fourth quarter of 2007. Earnings for the fourth quarter ended November 30, 2007 were $1,702,519 on revenue of $14,326,643. Earnings per share were $0.24 fully diluted. Revenues for the fourth quarter ended November 30, 2006 were $14,597,050, net income was $900,889 and earnings per share were $0.13 fully diluted.
Revenues for the fiscal year ended November 30, 2007 were $60,877,867. Net income was $5,537,795 and earnings per share were $0.78 fully diluted. For the 2006 fiscal year end, revenues were $64,100,023, net income was $5,604,251, and earnings per share were $0.79 fully diluted. The company has been working to adjust its business model by decreasing the amount of media advertising and focusing more on co-operative advertising with its retail partners. The reduction of media had a positive effect on net income for fiscal 2007. On the other hand an increased allocation for co-operative advertising reduced net sales in fiscal 2007 by approximately $1.1 million more than in fiscal 2006.
"Despite the many distracting issues the Company faced in the first half of the year, the Company went about its regular business in the second half, made some merchandising adjustments to focus on net profits resulting in a profitable fiscal year," stated Dunnan Edell, President. "In 2008, we are focusing on marketing partnerships with our retail accounts who have been very pleased with the results. We are extremely enthusiastic about 2008 as we will be emphasizing even more aggressive merchandising programs with our accounts, concentrating to expand the exposure of CCA's brands and to promote our new line extensions."
On December 5, 2007, the Board of Directors declared an 11% increase in the Company's dividend from $0.09 to $0.10 per share to shareholders of record as of February 1, 2008 and payable on March 1, 2008.
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. Quarter to November 30 2007 2006 Revenues $14,326,643 $14,597,050 Net Income 1,702,519 900,889 Earnings per share - Basic $0.24 $.13 Earnings per share - Diluted $0.24 $.13 FYE November 30 Revenues $60,877,867 $64,100,023 Net Income 5,537,795 5,604,251 Earnings per share - Basic $0.79 $.80 Weighted Average Shares Outstanding - Basic 7,029,611 7,034,276 Earnings per share - Diluted $.78 $.79 Weighted Average Shares Outstanding - Diluted 7,058,889 7,133,332
SOURCE CCA Industries, Inc.
Released February 5, 2008