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

Rhea-AI Summary

CCA Industries, Inc. (OTC: CAWW) reported a net income of $282,034 for Q2 2021, reversing a net loss of $148,812 in Q2 2020. Total revenues rose by 33.4% to $4,371,849, while EBITDA surged 761.3% to $455,049. The company announced the acquisition of the Nutra-Nail brand from Inspired Beauty Brands for $500,000, allowing for further investment in the brand, which generated $158,188 in sales for the first half of 2021.

Positive

• Net income increased from a loss to a profit of $282,034.
• Total revenues rose 33.4% to $4,371,849.
• EBITDA surged by 761.3% to $455,049.
• Acquisition of Nutra-Nail brand for $500,000 enhances product portfolio.

Negative

• Total revenues for the six months only increased by 2.0% year-over-year.

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. 

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.

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.

FAQ

What were CCA Industries' Q2 results for 2021?

CCA Industries reported a net income of $282,034 with revenues of $4,371,849.

How did CCA's revenues change in Q2 2021 compared to Q2 2020?

Revenues increased by 33.4% in Q2 2021 compared to Q2 2020.

What is the significance of the Nutra-Nail acquisition for CCA Industries?

The acquisition allows CCA to invest directly in the Nutra-Nail brand and expand its market presence.

How much did CCA Industries pay for the Nutra-Nail brand?

CCA Industries acquired the Nutra-Nail brand for $500,000.

What was CCA Industries' EBITDA for Q2 2021?

The EBITDA for Q2 2021 was $455,049, marking a 761.3% increase from the previous year.