CCA Industries, Inc., Announces Profitable Fourth Quarter
RIDGEFIELD PARK, N.J., Dec. 19, 2016 /PRNewswire/ -- CCA Industries, Inc. (NYSE MKT: "CAW"), announced today that preliminary results show that the Company had a profitable fourth quarter.
Lance Funston, Chief Executive Officer of CCA Industries, Inc. said, "We have now had four profitable quarters in a row. The Company has not had a fiscal year with all four quarters showing a profit since fiscal 2009. This is due to the hard work of our management team working to eliminate unprofitable items and bringing expenses down in alignment with sales. In addition, with the assistance of outsourcing, we have been able to reduce our payroll from 20 personnel at the beginning of the 2016 fiscal year to 12 at the end of the year. The Company has now completed its restructuring program and will be focusing on growing both sales and the bottom line during fiscal 2017."
The Company anticipates releasing its results for the fourth quarter and fiscal year ended November 30, 2016 by the end of February 2017.
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, "Scar Zone," scar treatment products, "Sudden Change," anti-aging skin care products and "Solar Sense," sun protection 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.
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SOURCE CCA Industries, Inc.
Released December 19, 2016