CCA Industries posts Q2 results
EAST RUTHERFORD, N.J. — Health and beauty aid manufacturer CCA Industries, whose brands include Plus+White toothpastes and teeth whiteners and Nutra Nail nail care treatments, swung to a loss during the second quarter but expressed optimism for the fourth quarter.
The company reported total revenues for the second quarter ended May 31 of $11.3 million and a net loss of $156,836. For the same period of 2012, the company had revenues of $14.7 million and net income of $302,100. The basic and fully diluted loss per share for second quarter 2013 was 2 cents compared with basic and fully diluted earnings per share of 4 cents for the same period of 2012.
"The company is still continuing to upgrade its sales and marketing operations. Although the second-quarter results were an improvement from the first quarter, it was not as good as we had planned. Nevertheless, as indicated in my previous shareholders' letter, I am still confident the company will begin to provide profitable sales in the fourth quarter," stated David Edell, CEO.
The company also announced that its board of directors has approved a dividend of 7 cents per share for the second quarter of fiscal 2013, payable to all shareholders of record as of Aug. 2 and to be paid on Sept. 3.