Subject: ERN
CCA Industries, Inc. Reports Third Quarter 2021 Results
PENN VALLEY, Pa., Oct. 15, 2021 /PRNewswire/ -- CCA Industries, Inc. (OTC: "CAWW") announced today its results for the third quarter and nine months ended August 31, 2021, which can be found in the table below.
The Company reported a net loss of $82,109 for the three months ended August 31, 2021, compared to net income of $80,225 for the same period in fiscal 2020. Lance Funston, Chief Executive Officer commented, "Our third quarter results reflect the ongoing effects of the COVID pandemic which has affected our supply chain, causing delays with our contract manufacturers. This resulted in the Company being unable to fulfill certain orders and lower product sales for the quarter. The supply chain disruptions improved as of the end of September 2021. The specific impact of the supply chain issue resulted in reductions due to cut orders of approximately $250 thousand during the quarter." The Company also announces that it has sold the Sunset Café brand in October 2021 for $700,000. The Company had sales of products under the Sunset Café brand of $188,532 for the nine months ended August 31, 2021.
The Company's financial statements for the quarter and nine months ended August 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.
CCA INDUSTRIES, INC. | |||
Three Months Ended | |||
August 31, 2021 | August 31, 2020 | ||
Revenues | $ 3,440,070 | $ 3,735,176 | |
Net Income (Loss) | $ (82,109) | $ 80,225 | |
Earnings (Loss) Per Share: | |||
Basic | $ (0.01) | $ 0.01 | |
Diluted | $ (0.01) | $ 0.01 | |
Weighted Average Common Shares Outstanding: | |||
Basic | 7,546,847 | 7,686,684 | |
Diluted | 7,546,847 | 7,705,339 | |
EBITDA * | ($91,292) | $296,737 | |
* Earnings before interest, taxes, depreciation and amortization | |||
Reconciliation of Net (Loss) Income to EBITDA: | |||
NET INCOME | $ (82,109) | $80,225 | |
TAX | (34,306) | 152,259 | |
INTEREST | 20,190 | 56,979 | |
DEPRECIATION/AMORITIZATION | 4,933 | 7,274 | |
EBITDA | $ (91,292) | $296,737 | |
CCA INDUSTRIES, INC. | |||
Nine Months Ended | |||
August 31, 2021 | August 31, 2020 | ||
Revenues | $ 10,721,510 | $ 10,873,216 | |
Net Income (Loss) | $ 273,445 | $ (212,169) | |
Earnings (Loss) Per Share: | |||
Basic | $ 0.04 | $ (0.03) | |
Diluted | $ 0.04 | $ (0.03) | |
Weighted Average Common Shares Outstanding: | |||
Basic | 7,543,235 | 7,531,684 | |
Diluted | 7,588,203 | 7,531,684 | |
EBITDA * | $423,064 | $136,638 | |
* Earnings before interest, taxes, depreciation and amortization | |||
Reconciliation of Net (Loss) Income to EBITDA: | |||
NET INCOME | $ 273,445 | ($212,169) | |
TAX | 43,452 | 105,716 | |
INTEREST | 88,328 | 218,515 | |
DEPRECIATION/AMORITIZATION | 17,839 | 24,576 | |
EBITDA | $ 423,064 | $136,638 | |
SOURCE CCA Industries, Inc.
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