CCA Industries, Inc. Reports Net Loss for Quarter ended February 29, 2020

LYNDHURST, N.J., April 15, 2020 /PRNewswire/ -- CCA Industries, Inc. (OTC: "CAWW"), announced today its results for the three months ended February 29, 2020.  The results can be found on the chart below.

Net loss was $143,582 for the three months ended February 29, 2020 as compared to a net income of $194,239 for the three months ended February 28, 2019.  Lance Funston, Chief Executive Officer commented, "Our loss in the first quarter of fiscal 2020 was due to the extraordinary legal fees related to the acquisition of the Solar Sense brand.  Our management is staying focused on reducing expenses to meet the challenges of this current COVID-19 environment.  While our retail sales are down, our digital on-line sales have increased significantly; and which have a significantly higher gross margin.  In the month of March 2020, the sales at CCA product sites totaled $64,226, representing a year over year growth of 481%, with total projected annualized digital on-line sales of $1.9 million for fiscal 2020." 

Further information, including the Unaudited Financial Statement for the first quarter ended February 29, 2020, the Audited Financial Statements for the year ended November 30, 2019 and the Annual Disclosure Statement filed with the OTC, may be found on the Company's investor web site:  www.ccainvestor.com  

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, "Nutra Nail" nail care treatments, "Porcelana" skin care products, "Scar Zone" scar treatment products,  "Sudden Change" anti-aging skin care products and two newly acquired brands, "Hair Off" and "Solar Sense". 

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. 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.

Financial Results (Unaudited)



Three Months Ended


February 29, 2020


February 28, 2020





Revenues

$                 3,861,084


$                 3,902,021





Net (Loss) Income

$                  (143,582)


$                     194,239









Net (Loss) Earnings Per Share:




Basic

$                         (0.02)


$                            0.03

Diluted

$                         (0.02)


$                            0.03





Weighted Average Shares Outstanding:




Basic

7,552,124


7,456,684

Diluted

7,632,680


7,456,684









EBITDA *

$                     (91,285)


$                     327,511





* Earnings before interest, taxes, depreciation and amortization










Reconciliation of Net (Loss) Income to EBITDA:







NET INCOME

$                  (143,582)


$                     194,239

TAX

(25,114)


79,433

INTEREST

67,703


43,209

DEPRECIATION/AMORITIZATION

9,708


10,630

EBITDA

$                     (91,285)


$                     327,511

 

Cision View original content:http://www.prnewswire.com/news-releases/cca-industries-inc-reports-net-loss-for-quarter-ended-february-29-2020-301041472.html

SOURCE CCA Industries, Inc.

{{root.upsell.info.feature_headline}}.

{{root.upsell.info.feature_description}}

Please note that this feature is only available as an add-on to YCharts subscriptions.


Please note that this feature requires full activation of your account and is not permitted during the free trial period.

Start My Free Trial {{root.upsell.info.call_to_action}} No credit card required.

Already a subscriber? Sign in.