CCA Industries, Inc. Reports Second Quarter Earnings
EAST RUTHERFORD, N.J., July 15 CCA INDUSTRIES, INC. (NYSE Amex: CAW) announced today its earnings for the second quarter ended May 31, 2010.
For the three month period ended May 31, 2010, the Company had total revenues of $14,855,217, a net loss of $(910,589) and a fully diluted loss per share of $(0.13) as compared to total revenues of $14,748,329, net income of $694,136 and fully diluted earnings per share of $0.10 for the three month period ended May 31, 2009. The net loss was as a result of the Company recording a charge against income of $2,067,407 for the settlement of the "Wally vs. CCA" advertising litigation. The net advertising litigation expense included the cost of the settlement and any related legal expense, net of expected insurance claim proceeds. The settlement is subject to the Court's final approval. The loss before (benefit from) income taxes was $(1,349,714) for the three months ended May 31, 2010. If the advertising litigation expense had not been recorded in the second quarter, the Company would have had earnings before provision for income taxes of $717,693 for the three months ended May 31, 2010 as compared to $1,338,452 for the same period in 2009.
For the sixth month period ended May 31, 2010, total revenues were $28,053,503, the net loss was $(369,035) and the fully diluted loss per share was $(0.05) as compared to total revenues of $29,692,796, net income of $818,502 and fully diluted earnings per share of $0.12 for the six month period ended May 31, 2009. The six month period ended May 31, 2010 included net advertising litigation expense of $2,129,043. The loss before (benefit from) income taxes was $(397,214) for the six months ended May 31, 2010. If the advertising litigation expense had not been recorded in the first half of 2010, the Company would have had earnings before provision for income taxes of $1,731,829 for the six months ended May 31, 2010 as compared to $1,615,187 for the same period in 2009.
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 Bust RII 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 as detailed in the Company's filings with the Securities and Exchange Commission.
CCA Industries, Inc. & Subsidiaries Second Quarter Ended May 31, 2010 News Release
SOURCE CCA Industries, Inc.
You May Also Like