CCA Industries, Inc. Announces Second Quarter Results
EAST RUTHERFORD, N.J., June 28 /PRNewswire-FirstCall/ -- CCA Industries, Inc. (Amex: CAW) announced today that second quarter revenues were $18,457,562, net income was $1,292,921 after provisions for taxes of $1,034,928, and earnings per share fully diluted were $0.18. Earnings for the quarter ended May 31, 2007 were impacted by transaction expenses of $405,238 related to the proposed acquisition that was not consummated. For the same quarter in 2006, revenues were $18,773,398, net income was $1,705,108, and earnings per share fully diluted were $0.24.
Income before taxes for the quarter on a pro-forma basis eliminating the transaction expense would have been $2,733,087 versus $2,788,289.
For the six month period ended May 31, 2007, revenues were $32,285,140, net income was $1,765,669, after a provision for taxes of $1,375,339 and earnings per share fully diluted was $0.25 compared to revenues of $33,506,284, net income of $2,775,886, after a provision for taxes of $1,771,808, and earnings per share fully diluted of $0.39 for the first six months of the prior year. Earnings were impacted during the six-month period by transaction expenses of $717,850 related to the proposed acquisition which was not consummated.
"We are working on a number of new and exciting products that we intend to introduce in early 2008," stated David Edell, chief executive officer.
The board of directors declared a $0.07 dividend for the third quarter. The third quarter dividend is payable to all shareholders of record August 1, 2007, payable September 1, 2007. This is the thirteenth consecutive dividend paid by the Company.
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, "Cherry Vanilla" 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. & Subsidiaries Second Quarter Ended May 31, 2007 News Release Quarter Ended May 31, 2007 May 31, 2006 Revenues $18,457,562 $18,773,398 *Net Income $ 1,292,921 $ 1,705,108 Per Share Earnings Basic $0.18 $0.24 Diluted $0.18 $0.24 Weighted Average Shares Outstanding Basic 7,006,882 7,013,723 Diluted 7,086,793 7,122,620 *Includes transactional expenses of $405,238 before taxes Six Months Ended Revenues $32,285,140 $33,506,284 *Net Income $ 1,765,669 $ 2,775,886 Per Share Earnings Basic $0.25 $0.39 Diluted $0.25 $0.39 Weighted Average Shares Outstanding Basic 7,004,643 7,092,082 Diluted 7,090,574 7,209,441 *Includes transactional expenses of $717,850 before taxes
SOURCE CCA Industries, Inc.
Released June 28, 2007