CCA Industries, Inc. Reports Third Quarter 2021 Results

Rhea-AI Summary

CCA Industries, Inc. (OTC: CAWW) reported a net loss of $82,109 for Q3 2021, a significant drop from a net income of $80,225 in Q3 2020. Total revenue for Q3 2021 was $3,440,070, down from $3,735,176 in the same quarter last year. The loss was attributed to COVID-related supply chain issues, resulting in $250,000 in reduced orders. However, the company sold its Sunset Café brand for $700,000 in October 2021. Year-to-date revenue stood at $10,721,510, a slight decline from $10,873,216 in the same period last year.

Positive

• Sold Sunset Café brand for $700,000.
• Year-to-date revenue of $10,721,510 despite challenges.

Negative

• Net loss of $82,109 compared to net income of $80,225 in Q3 2020.
• Q3 revenue decreased to $3,440,070 from $3,735,176 in the previous year.
• Supply chain disruptions caused $250,000 in lost orders.

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

 

View original content:https://www.prnewswire.com/news-releases/cca-industries-inc-reports-third-quarter-2021-results-301401479.html

SOURCE CCA Industries, Inc.

FAQ

What were the Q3 2021 results for CCA Industries, Inc. (CAWW)?

CCA Industries reported a net loss of $82,109 and revenue of $3,440,070 for Q3 2021.

How much did CCA Industries sell the Sunset Café brand for?

CCA Industries sold the Sunset Café brand for $700,000 in October 2021.

What caused the net loss for CCA Industries in Q3 2021?

The net loss was primarily due to COVID-related supply chain disruptions affecting order fulfillment.

How does CCA Industries' Q3 2021 revenue compare to Q3 2020?

Q3 2021 revenue decreased to $3,440,070 from $3,735,176 in Q3 2020.

What were the year-to-date revenues for CCA Industries as of August 31, 2021?

The year-to-date revenue was $10,721,510, a slight decrease from $10,873,216 the previous year.