CCA Industries, Inc. Reports Third Quarter Earnings and Declares $.11 Dividend for the Fourth Quarter
EAST RUTHERFORD, N.J., Oct. 13 /PRNewswire-FirstCall/ -- CCA Industries, Inc. (NYSE Alternext US: CAW), announced today that despite the stumbling economy the board of directors declared a $0.11 cash dividend payable to all shareholders of record November 1, 2008 payable on December 1, 2008, the eighteenth consecutive dividend paid by the company.
Revenues for the three months ended August 31, 2008 were $14,148,729, net income was $1,101,420 and earnings per share were $0.16 fully diluted as compared with last year's third quarter revenue of $14,266,083, net income $2,069,604 and earnings per share of $0.29 fully diluted.
Revenues for the nine-month period were $45,409,755 as compared to $46,551,224 in the prior year. Net income for the nine-month period was $2,235,795 as compared to net income $3,835,276 for the same period last year. Earnings per share fully diluted were $0.32 as compared to $0.54 earnings per share fully diluted for the previous year's nine month period.
"Tough times for retailers filter down to suppliers. As a result our sales were down slightly, expenses went up a bit as we increased our creative staff and our advertising commitments to overcome the economic headwinds in the market place. Fortunately, we have a solid financial footing with ample cash flow, available free cash in the corporate treasury and an unused line of credit from our bank. We have no long term debt, no litigation nor outstanding swaps or contingent liabilities on or off our balance sheet. We are in a very good position to take advantage of the rebound in the economy," 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 topical 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 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, 2008 August 31, 2007 Revenues $14,148,729 $14,266,083 Net Income $1,101,420 $2,069,604 Per Share Earnings Basic $0.16 $0.29 Diluted $0.16 $0.29 Weighted Average Shares Outstanding Basic 7,054,442 7,054,442 Diluted 7,061,151 7,074,796 Nine Months Ended August 31 Revenues $45,409,755 $46,551,224 Net Income $2,235,795 $3,835,276 Per Share Earnings Basic $0.32 $0.55 Diluted $0.32 $0.54 Weighted Average 7,054,442 7,021,364 Shares Outstanding 7,065,869 7,052,437
SOURCE CCA Industries, Inc.
Released October 13, 2008