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8-K - FORM 8-K - CCA INDUSTRIES INC | c23347e8vk.htm |
EXHIBIT 99.1
Company Contact:
Dunnan D. Edell
Chief Executive Officer
800-524-2720
Dunnan D. Edell
Chief Executive Officer
800-524-2720
FOR IMMEDIATE RELEASE
CCA INDUSTRIES, INC. REPORTS THIRTIETH CONSECUTIVE DIVIDEND AND THIRD QUARTER RESULTS
East Rutherford, NJ, October 14, 2011: CCA INDUSTRIES, INC. (NYSE AMEX: CAW) announced today
that its Board of Directors has approved a dividend of $0.07 per share for the fourth quarter,
payable to all shareholders of record as of November 1, 2011 and to be paid on December 2, 2011.
This will be the Companys 30th consecutive dividend.
The Company also announced its results for the third quarter ended August 31, 2011. The Company
had total revenues for the three months ended August 31, 2011 of $12,228,988 and a net income of
$399,294. Total revenues for the same period in 2010 were $12,596,400 and a net loss of
$(598,225). The basic and fully diluted earnings per share was $0.06 for the third quarter of 2011
as compared to a loss of $ (0.08) for the third quarter 2010. Revenues for the nine months
ended August 31, 2011 were $37,685,408 and net income was $495,131 as compared to revenues of
$40,649,903 and a net loss of $(967,260) for the same period in 2010. The basic and fully diluted
earnings per share for the nine months ended August 31, 2011 was $0.07 as compared to a loss of
$(0.14) per share for the same period in fiscal 2010.
Net earnings in the third quarter were affected by a voluntary recall of three lots of our Plus
White Whitening Gel products from our retailers. The recall was caused by the gel turning into a
liquid form that caused the product to lose its efficacy. The Company accordingly recorded a
reserve of $646,106 for returns and related retailer charges, which reduced pre-tax earnings for
the third quarter. We believe the problem that caused the instability of the product is related
to recent changes in the specification of the raw materials used in the product formula. The
Company has employed the services of one of the foremost experts of whitening ingredients, who has
developed a new formulation, which we believe will end the product stability problems that we have
been recently facing, stated Dunnan D. Edell, CEO.
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, Wash N Curl
shampoos and conditioners and Pain BustR II an analgesic product.
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
Companys 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.
CCA Industries, Inc. & Subsidiaries
Third Quarter Ended
August 31, 2011
News Release
August 31, 2011 | August 31, 2010 | |||||||
Quarter Ended |
||||||||
Total Revenues |
$ | 12,228,988 | $ | 12,596,400 | ||||
Net Income (Loss) |
$ | 399,294 | $ | (598,225 | ) | |||
Per Share Earnings (Loss) |
||||||||
Basic |
$ | 0.06 | $ | (0.08 | ) | |||
Diluted |
$ | 0.06 | $ | (0.08 | ) | |||
Weighted Average Shares Outstanding |
||||||||
Basic |
7,054,442 | 7,054,442 | ||||||
Diluted |
7,054,442 | 7,054,442 | ||||||
Nine Months Ended |
||||||||
Total Revenues |
$ | 37,685,408 | $ | 40,649,903 | ||||
Net Income (Loss) |
$ | 495,131 | $ | (967,260 | ) | |||
Per Share Earnings (Loss) |
||||||||
Basic |
$ | 0.07 | $ | (0.14 | ) | |||
Diluted |
$ | 0.07 | $ | (0.14 | ) | |||
Weighted Average Shares Outstanding |
||||||||
Basic |
7,054,442 | 7,054,442 | ||||||
Diluted |
7,054,442 | 7,054,442 |