CCA Industries, Inc. Reports Net Income for Quarter ended February 28, 2021

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Apr 15, 2021, 16:15 ET

PENN VALLEY, Pa., April 15, 2021 /PRNewswire/ -- CCA Industries, Inc. (OTC: CAWW), announced today its results for the three months ended February 28,2021. The results can be found on the chart below.

Net income was $73,520 for the three months ended February 28, 2021 as compared to a net loss of $143,582 for the three months ended February 29, 2020. Lance Funston, Chief Executive Officer commented, "We have still been facing a difficult retail environment due to the COVID pandemic as previously disclosed. However, I can report that sales returned to pre-COVID levels in March 2021 and we see that trend continuing so far in April 2021. Our digital on-line sales continue to increase which has contributed to our sales recovery."

Further information, including the Unaudited Financial Statement for the first quarter ended February 28, 2021, the Audited Financial Statements for the year ended November 30, 2020 and the Quarterly Disclosure Statement filed with the OTC, 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, "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. 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.
Financial Results (Unaudited)

	Three Months Ended
	February 28, 2021	February 29, 2020

Revenues	$ 3,225,991	$ 3,861,084

Net Income (Loss)	$ 73,520	$ (143,582)


Net Earnings (Loss) Per Share:
Basic	$ 0.01	$ (0.02)
Diluted	$ 0.01	$ (0.02)

Weighted Average Shares Outstanding:
Basic	7,536,017	7,531,684
Diluted	7,551,538	7,531,684


EBITDA *	$ 69,307	$ (91,285)

* Earnings before interest, taxes, depreciation and amortization


Reconciliation of Net (Loss) Income to EBITDA:

NET INCOME	$ 73,520	$ (143,582)
TAX	(54,777)	(25,114)
INTEREST	44,002	67,703
DEPRECIATION/AMORITIZATION	6,562	9,708
EBITDA	$ 69,307	$ (91,285)