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CCA Industries, Inc. Reports Net Income for the Quarter and Net Loss for the Year Ended November 30, 2018

LYNDHURST, N.J., Feb. 28, 2019 /PRNewswire/ -- CCA Industries, Inc. (NYSE AMERICAN: "CAW"), announced today its fourth quarter and full year results for the period ended November 30, 2018.  The results can be found on the chart below.

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The net loss was $3,321,766 for the year ended November 30, 2018 as compared to income of $1,831,181 for the year ended November 30, 2017.  Total net income for the quarter ended November 30, 2018 was $394,885 as compared to income of $568,196 for the same period in fiscal 2017.  The net loss for the year was primarily caused by a change in the Federal tax rate that was enacted in December 2017 and resulted in the Company's lowering the value of its deferred tax assets which increased the provision for income tax.  The Company also previously disclosed that that its board of directors determined that voluntarily delisting the Company's common stock, $0.01 par value, and Class A common stock, $0.01 par value, (together, the "Common Stock") from the NYSE American and voluntarily deregistering from the reporting requirements of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), are in the best interests of the Company.  The Company is eligible to deregister the Common Stock because it has fewer than 300 stockholders of record.  Accordingly, the Company intends to file on or about April 2, 2019 a Form 25 with the Securities and Exchange Commission (the "SEC") to voluntarily delist the Common Stock from the NYSE American and to deregister the Common Stock from Section 12(b) of the Exchange Act.  The Company also intends to file on or about April 12, 2019 a Form 15 with the SEC to request deregistration of the Common Stock under Section 12(g) of the Exchange Act.  Lance Funston, Chief Executive Officer commented, "The Company has decided to delist its Common Stock which will provide additional working capital through savings.  We hope to enhance shareholder value by focusing on driving sales through innovative marketing programs and the introduction of new products and packaging.  Quarterly and annual financial statements will continue to be available on our investor web site."

Further information, including the Annual Report filed on Form 10-K for the year ended November 30, 2018, may 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 and "Sudden Change" anti-aging skin care products. 

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. 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 (Unaudited)



November 30, 2018


November 30, 2017






Revenues


$         4,158,257


$          4,110,669






Net Income


$            384,885


$              568,196






Net Earnings per Share:





Basic


$                  0.07


$                     0.08

Diluted


$                  0.07


$                     0.08






Weighted Average Shares Outstanding:





Basic


7,456,684


7,006,684

Diluted


7,456,684


7,006,684






 

 Twelve Months Ended



November 30, 2018


November 30, 2017






Revenues


$        16,606,753


$          19,830,098






Net (Loss) Income


$         (3,321,766)


$            1,831,181











Net (Loss) Earnings per Share:





Basic


$                 (0.45)


$                   0.26

Diluted


$                 (0.45)


$                   0.26











Weighted Average Shares Outstanding:





Basic


7,375,314


7,006,684

Diluted


7,375,314


7,006,684

 

 

Cision

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