CCA Industries, Inc. (OTC: “CAWW”) announced today its results for the second quarter and six months ended May 31, 2019, which can be found in the table below.
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LYNDHURST, N.J., July 8, 2019 /PRNewswire/ -- CCA Industries, Inc. (OTC: “CAWW”) announced today its results for the second quarter and six months ended May 31, 2019, which can be found in the table below.
The Company reported income of $349,320 for the three months ended May 31, 2019 compared to a loss of $292,320 for the same period in fiscal 2018. Lance Funston, Chief Executive Officer commented, “We are pleased that our results show that we not only returned to an operating profit in fiscal 2019, but that the Company also has top line growth as reflected in a 29.2% increase in revenue for the second quarter of fiscal 2019 compared to the same quarter in 2018. This is a result of several management initiatives, including targeted advertising, increased promotions and expanded distribution. Management is continuing to work to increase our top line sales in order to bring value to our shareholders. We look forward to future successes in expanding the distribution of our products into fiscal 2020.” The Company’s financial statements for the quarter and six months ended May 31, 2019 can be found on the Company’s investor web site: www.ccainvestor.com At a financial level, Funston added, “the 56.2% reduction in interest expense from $304,715 in the first half of fiscal 2018 to $133,349 in the first half of fiscal 2019 reflects a substantial improvement in working capital. In addition, the Company has elected to acquire the assets of NATCO LLC, a Florida based internet marketer that provides us with an internet platform to test new products and promotional offers of existing products.” 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, “Scar Zone” scar treatment products, “Sudden Change” complete skin care regime and “Porcelana” skin care 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 past 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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Company Codes: OTC-PINK:CAWW | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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