AP NEWS
ADVERTISEMENT
Press release content from PR Newswire. The AP news staff was not involved in its creation.
Related topics
PRESS RELEASE: Paid content from PR Newswire
Press release content from PR Newswire. The AP news staff was not involved in its creation.

CCA Industries, Inc. Reports Second Quarter 2021 Results with 33.4% increase in revenues and Acquisition of the Nutra-Nail Brand

July 14, 2021 GMT

PENN VALLEY, Pa., July 14, 2021 /PRNewswire/ -- CCA Industries, Inc. (OTC: “CAWW”) announced today its results for the second quarter and six months ended May 31, 2021, which can be found in the table below.

The Company reported net income of $282,034 for the three months ended May 31, 2021 compared to a net loss of $148,812 for the same period in fiscal 2020. Total revenues increased 33.4% and EBITDA increased 761.3% for the three months ended May 31, 2021 compared to the three months ended May 31, 2020. Lance Funston, Chief Executive Officer commented, “Our second quarter earnings reflects the Company’s recovery from the effects of the COVID pandemic and continued increased digital sales. We are also pleased to announce the acquisition of the Nutra-Nail brand in July 2021, which the Company had previously sold under a license agreement. The acquisition will permit us to make investments into the brand which is sold through both retail and digital channels.” The Nutra-Nail brand was acquired from Inspired Beauty Brands, Inc. for $500,000 and included all trademarks and intellectual property. Nutra Nail net sales were $158,188 for the six months ended May 31, 2021.

ADVERTISEMENT

The Company’s financial statements for the quarter and six months ended May 31, 2021 can 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. 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.

ADVERTISEMENT

CCA INDUSTRIES, INC.


Three Months Ended


May 31, 2021


May 31, 2020

Total Revenues

$4,371,849

33.4%

$3,276,956





Net Income (Loss)

$282,034


($148,812)





Earnings (Loss) Per Share:




Basic

$0.04


($0.02)

Diluted

$0.04


($0.02)





Weighted Average Common Shares Outstanding:




Basic

7,546,684


7,531,684

Diluted

7,594,583


7,531,684





EBITDA *

$455,049

761.3%

($68,814)





* Earnings before interest, taxes, depreciation and amortization






Reconciliation of Net (Loss) Income to EBITDA:







NET INCOME

$282,034


($148,812)

TAX

$132,535


($21,429)

INTEREST

$24,136


$93,833

DEPRECIATION/AMORITIZATION

$6,344


$7,594

EBITDA

$445,049


($68,814)





CCA INDUSTRIES, INC.


Six Months Ended


May 31, 2021


May 31, 2020

Total Revenues

$7,281,440

2.0%

$7,138,040





Net Income (Loss)

$355,554


($292,394)





Earnings (Loss) Per Share:




Basic

$0.05


($0.04)

Diluted

$0.05


($0.04)





Weighted Average Common Shares Outstanding:




Basic

7,541,409


7,531,684

Diluted

7,573,266


7,531,684





EBITDA *

$514,356

421.3%

($160,099)





* Earnings before interest, taxes, depreciation and amortization






Reconciliation of Net (Loss) Income to EBITDA:







NET INCOME

$355,554


($292,394)

TAX

$77,758


($46,543)

INTEREST

$68,138


$161,536

DEPRECIATION/AMORITIZATION

$12,906


$17,302

EBITDA

$514,356


($160,099)





View original content: https://www.prnewswire.com/news-releases/cca-industries-inc-reports-second-quarter-2021-results-with-33-4-increase-in-revenues-and-acquisition-of-the-nutra-nail-brand-301334202.html

SOURCE CCA Industries, Inc.