EAST RUTHERFORD, N.J., July 7 /PRNewswire-FirstCall/ -- CCA Industries, Inc. (Amex: CAW) declared today a dividend for the third quarter of $0.11 per share to all shareholders of record as of August 1, 2008, payable on September 1, 2008.
Revenues for the second quarter ending May 31, 2008 were $17,389,985. Net income was $790,692 and earnings per share were $0.11 fully diluted versus revenues of $18,457,562, net income of $1,292,921 and earnings per share of $0.18 fully diluted for the second quarter of 2007.
Revenue for the six months ended May 31, 2008 were $31,261,025, net income was $1,134,375 and earnings per share were $0.16 fully diluted, compared to revenues of $32,285,140, net income of $1,765,669 and earnings per share of $0.25 fully diluted for the same period in 2007.
"Net sales and earnings were somewhat lower in both the second quarter and for the first six (6) months of the 2008 fiscal year. The aforementioned was primarily due to a 10% sales reduction of the Company's Mega-T weight loss brand. The Company attributes the sales decline to the heavily advertised former prescriptive diet aid by a leading pharmaceutical company. CCA will be introducing several new unique diet aids in their fourth quarter in order to offset the recent sales decline in their Mega-T diet aid sales. In addition, the Company will be introducing a number of new SKUs to their other brands also in the upcoming third and fourth quarters," stated Dunnan Edell, President of CCA.
CCA also announces today that it has been added to the Russell Microcap Index after the Russell Investment Group reconstituted its comprehensive set of U.S. and global equity indexes on June 27, 2008. "Russell is an industry leader for stock indexes, and we are pleased to be included in their Microcap Index," said Dunnan Edell. "We expect our inclusion will generate greater interest in our stock among institutional investors."
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.|
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