EAST RUTHERFORD, N.J., April 14 /PRNewswire/ -- CCA Industries, Inc. (Amex: CAW) announced today revenues of $13,871,040, net income of $343,683, and earnings per share fully diluted of $0.05 for the first quarter ended February 29, 2008. Revenues for the first quarter last year were $13,975,385, and net income was $472,753, with fully diluted earnings per share of $0.07.
"The first quarter's net income has always been the lowest quarter because the Company's business model has been to spend approximately 80% of its media budget in the first six months, causing an inordinate reduction in the first six-month's earnings. Earnings in the third and fourth quarters should not be impacted by the disproportionate deduction of media expenses," stated Dunnan Edell, President.
"Despite all of the problems in the corporate world, the Company is working to build up its cash reserves. Free cash is a little higher than it was last year at this time. There is still no corporate debt. If one of our new initiatives or core products takes off, we are in the perfect position to commit additional capital and take quick advantage of such an opportunity."
On February 25, 2008, the Board of Directors declared an $0.11 per share dividend for the second quarter ending May 31, 2008 payable to shareholders of record May 1, 2008, and payable on June 1, 2008.
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 topicals 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, and "Wash 'N Curl" shampoos and conditioners.
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 filings with the Securities and Exchange Commission.
SOURCE CCA Industries, Inc.