Welcome!

News Feed Item

CCA Industries, Inc. Announces The Appointment Of New Chief Executive Officer And Reports Third Quarter Results

EAST RUTHERFORD, N.J., Oct. 17, 2013 /PRNewswire/ -- CCA Industries, Inc. (NYSE MKT: "CAW"), a leading marketer and distributor of well-known Health & Beauty Aids,  announced today the appointment of Richard Kornhauser as Chief Executive Officer and President, effective immediately. Third quarter results covering the period ending August 31, 2013 are also highlighted herein.

The unfortunate loss of the company's dynamic Chief Executive Officer, Dunnan Edell, earlier this year caused it to operate without a full-time CEO in the highly competitive Health and Beauty Aids Industry during the last eight (8) months. Without the energy, passion and creativity that Dunnan brought to CCA Industries and its successful brands, the company lost important momentum in 2013.  As a result the company's performance, in-store merchandising position and turnover were not nearly on par with its successful efforts over the past 25 years.

The company and its Board of Directors has been seeking an experienced, energetic and creative Chief Executive Officer and is now pleased to announce that it has employed Richard Kornhauser to help drive CCA Industries going forward.

Mr. Kornhauser, aged 58, has over the past thirty years honed his well-developed management skills, strong entrepreneurial drive, and his keen sense of opportunities in the Health and Beauty Aids Industry at companies with very similar problem-solution brands to CCA Industries: Chattem, Incorporated, Combe Incorporated, and FGX International. Richard was instrumental in spearheading the marketing and advertising efforts which helped drive significant, and profitable growth for such brands as: Gold Bond® skin care, Icy Hot® topical analgesics, Selsun-Blue® dandruff shampoo, Sea Bond® denture care, Odor-Eaters® foot care, and even the iconic Foster Grant® eyewear brand.

The Company has commenced a major reorganization of it's operations so that it can focus all its energy and financial strength on the it's products. The Company has already substantially reduced overhead and the Company will also temporarily suspend its quarterly dividend. These savings are being targeted for new marketing and advertising programs, including new product launches and sales promotional efforts that will trigger new momentum in the coming year.

The Company reported total revenues for the third quarter ended August 31, 2013 of $9,734,911 and a net loss of $792,892.  For the same period of 2012, the Company had revenues of $14,003,207 and net income of $428,747.  The basic and fully diluted loss per share for the third quarter of 2013 was $0.11 as compared to basic and fully diluted earnings per share of $0.06 for same period of 2012.  Total revenues for the nine months ended August 31, 2013 were $32,796,772, as compared to $42,401,926, for the same period in 2012.  The Company reported a net loss for the first nine months of fiscal 2013 of $1,965,119, as compared to net income of $818,381 for the same period in fiscal 2012.  The basic and fully diluted loss per per share for the nine months ended August 31, 2013 was $0.28 as compared to the basic and fully diluted earnings per share of $0.12 for the same period in 2012.

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, "Mega-T" Green Tea diet supplements, "Mega-T" Green Tea gum and mint products, "Bikini Zone" medicated topical and shave gels, "Nutra Nail" nail care treatments, "Gel Perfect" UV free gel color, "Scar Zone" scar treatment products, "Sudden Change" anti-aging skin care products, "Cherry Vanilla" fragrances, "Solar Sense" sun protection products, "Hair Off" hair removal and depilatory products, "Wash 'N Curl" shampoos and conditioners and "Pain Bust RII" an analgesic product.

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

August 31, 2013


August 31, 2012

 

Revenues

$

9,734,911



$

14,003,207






Net (Loss) Income

$

(792,892)



$

428,747






(Loss) Earnings per Share:




Basic

$

(0.11)



$

0.06


Diluted

$

(0.11)



$

0.06


Weighted Average Common Shares Outstanding




Basic

7,035,235



7,054,442


Diluted

7,035,235



7,054,442


 

CCA INDUSTRIES, INC.

Nine months ended

August 31, 2013


August 31, 2012

 

Revenues

$

32,796,772



$

42,401,926






Net (Loss) Income

$

(1,965,119)



$

818,381






(Loss) Earnings per Share:




Basic

$

(0.28)



$

0.12


Diluted

$

(0.28)



$

0.12


Weighted Average Common Shares Outstanding




Basic

7,047,993



7,054,442


Diluted

7,047,993



7,054,442


SOURCE CCA Industries, Inc.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Consumers increasingly expect their electronic "things" to be connected to smart phones, tablets and the Internet. When that thing happens to be a medical device, the risks and benefits of connectivity must be carefully weighed. Once the decision is made that connecting the device is beneficial, medical device manufacturers must design their products to maintain patient safety and prevent compromised personal health information in the face of cybersecurity threats. In his session at @ThingsExpo...
You know you need the cloud, but you’re hesitant to simply dump everything at Amazon since you know that not all workloads are suitable for cloud. You know that you want the kind of ease of use and scalability that you get with public cloud, but your applications are architected in a way that makes the public cloud a non-starter. You’re looking at private cloud solutions based on hyperconverged infrastructure, but you’re concerned with the limits inherent in those technologies.
SYS-CON Events announced today that Massive Networks will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Massive Networks mission is simple. To help your business operate seamlessly with fast, reliable, and secure internet and network solutions. Improve your customer's experience with outstanding connections to your cloud.
DevOps is under attack because developers don’t want to mess with infrastructure. They will happily own their code into production, but want to use platforms instead of raw automation. That’s changing the landscape that we understand as DevOps with both architecture concepts (CloudNative) and process redefinition (SRE). Rob Hirschfeld’s recent work in Kubernetes operations has led to the conclusion that containers and related platforms have changed the way we should be thinking about DevOps and...
Everything run by electricity will eventually be connected to the Internet. Get ahead of the Internet of Things revolution and join Akvelon expert and IoT industry leader, Sergey Grebnov, in his session at @ThingsExpo, for an educational dive into the world of managing your home, workplace and all the devices they contain with the power of machine-based AI and intelligent Bot services for a completely streamlined experience.
Because IoT devices are deployed in mission-critical environments more than ever before, it’s increasingly imperative they be truly smart. IoT sensors simply stockpiling data isn’t useful. IoT must be artificially and naturally intelligent in order to provide more value In his session at @ThingsExpo, John Crupi, Vice President and Engineering System Architect at Greenwave Systems, will discuss how IoT artificial intelligence (AI) can be carried out via edge analytics and machine learning techn...
FinTechs use the cloud to operate at the speed and scale of digital financial activity, but are often hindered by the complexity of managing security and compliance in the cloud. In his session at 20th Cloud Expo, Sesh Murthy, co-founder and CTO of Cloud Raxak, showed how proactive and automated cloud security enables FinTechs to leverage the cloud to achieve their business goals. Through business-driven cloud security, FinTechs can speed time-to-market, diminish risk and costs, maintain continu...
When shopping for a new data processing platform for IoT solutions, many development teams want to be able to test-drive options before making a choice. Yet when evaluating an IoT solution, it’s simply not feasible to do so at scale with physical devices. Building a sensor simulator is the next best choice; however, generating a realistic simulation at very high TPS with ease of configurability is a formidable challenge. When dealing with multiple application or transport protocols, you would be...
Existing Big Data solutions are mainly focused on the discovery and analysis of data. The solutions are scalable and highly available but tedious when swapping in and swapping out occurs in disarray and thrashing takes place. The resolution for thrashing through machine learning algorithms and support nomenclature is through simple techniques. Organizations that have been collecting large customer data are increasingly seeing the need to use the data for swapping in and out and thrashing occurs ...
As many know, the first generation of Cloud Management Platform (CMP) solutions were designed for managing virtual infrastructure (IaaS) and traditional applications. But that’s no longer enough to satisfy evolving and complex business requirements. In his session at 21st Cloud Expo, Scott Davis, Embotics CTO, will explore how next-generation CMPs ensure organizations can manage cloud-native and microservice-based application architectures, while also facilitating agile DevOps methodology. He wi...
SYS-CON Events announced today that Datera, that offers a radically new data management architecture, has been named "Exhibitor" of SYS-CON's 21st International Cloud Expo ®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Datera is transforming the traditional datacenter model through modern cloud simplicity. The technology industry is at another major inflection point. The rise of mobile, the Internet of Things, data storage and Big...
When you focus on a journey from up-close, you look at your own technical and cultural history and how you changed it for the benefit of the customer. This was our starting point: too many integration issues, 13 SWP days and very long cycles. It was evident that in this fast-paced industry we could no longer afford this reality. We needed something that would take us beyond reducing the development lifecycles, CI and Agile methodologies. We made a fundamental difference, even changed our culture...
SYS-CON Events announced today that GrapeUp, the leading provider of rapid product development at the speed of business, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Grape Up is a software company, specialized in cloud native application development and professional services related to Cloud Foundry PaaS. With five expert teams that operate in various sectors of the market acr...
In the enterprise today, connected IoT devices are everywhere – both inside and outside corporate environments. The need to identify, manage, control and secure a quickly growing web of connections and outside devices is making the already challenging task of security even more important, and onerous. In his session at @ThingsExpo, Rich Boyer, CISO and Chief Architect for Security at NTT i3, discussed new ways of thinking and the approaches needed to address the emerging challenges of security i...
Blockchain is a shared, secure record of exchange that establishes trust, accountability and transparency across business networks. Supported by the Linux Foundation's open source, open-standards based Hyperledger Project, Blockchain has the potential to improve regulatory compliance, reduce cost as well as advance trade. Are you curious about how Blockchain is built for business? In her session at 21st Cloud Expo, René Bostic, Technical VP of the IBM Cloud Unit in North America, will discuss th...