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CCA Industries, Inc. reports operating results and brand developments for a consumer health and beauty aids business traded under CAWW. The company manufactures and markets products under individual brand names, including Plus White toothpaste and teeth whiteners, Nutra Nail nail care treatments, Porcelana and Sudden Change skin care products, Scar Zone scar treatment products, Hair Off depilatories, and Neutein brain health supplements.
Recurring company updates cover quarterly and annual financial results, EBITDA and expense trends, advertising investment behind core brands, online-channel growth, warehouse and supply-chain cost actions, and portfolio changes such as completed brand sales. Corporate items also include shareholder voting matters, capital-structure disclosure, governance matters, and OTC disclosure updates.
CCA Industries, Inc. (OTC PINK:CAWW) held its Annual Shareholders Meeting on July 12, 2022, where key decisions were made. Lance T. Funston, Brent Funston, and S. David Fineman were re-elected as directors. Class A shareholders elected Sardar Biglari, Dr. Philip Cooley, Brian Haveson, and Michael Dunn as directors. Shareholders ratified CohnReznick LLP as public accountants for the fiscal year ending November 30, 2022. Lance Funston continues as Chairman, with Brent Funston as Vice-Chairman. Christopher Dominello was appointed as CEO, with Stephen A. Heit as CFO.
CCA Industries, Inc. (OTC: CAWW) reported a net loss of $596,349 for the year ending November 30, 2021, compared to a loss of $127,477 in 2020. The loss was partly due to a $480,899 charge for the impairment of the Solar Sense trademark and a $670,304 inventory reserve. Despite this, cash from operations increased to $988,120, up from $499,657 in 2020. Revenue fell to $13,834,596 from $14,124,251 the previous year. Amazon now accounts for 18.5% of total sales, with a 168.9% growth compared to fiscal 2020.
CCA Industries, Inc. (OTC: CAWW) has appointed Christopher Dominello as its new Chief Executive Officer, while Lance Funston continues as Chairman of the Board. The board has decided to terminate its engagement with Janney Montgomery Scott LLC. Funston expressed optimism about the company's future, emphasizing a focus on growing sales and reducing expenses. Dominello brings extensive experience, having previously revitalized brands at Ducere Pharma, leading to a significant increase in sales and distribution. CCA aims to enhance shareholder value amid challenging market conditions.
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.
CCA Industries, Inc. (OTC: CAWW) reported a net income of $282,034 for Q2 2021, reversing a net loss of $148,812 in Q2 2020. Total revenues rose by 33.4% to $4,371,849, while EBITDA surged 761.3% to $455,049. The company announced the acquisition of the Nutra-Nail brand from Inspired Beauty Brands for $500,000, allowing for further investment in the brand, which generated $158,188 in sales for the first half of 2021.
CCA Industries, Inc. (OTC: CAWW) reported a net income of $73,520 for the quarter ending February 28, 2021, reversing a net loss of $143,582 from the previous year. Revenues decreased by 16.5% year-over-year to $3,225,991. CEO Lance Funston noted a recovery in sales, suggesting a return to pre-COVID levels in March 2021, with ongoing growth in digital sales contributing to recovery. Despite challenges posed by the pandemic, the outlook remains cautiously optimistic.
CCA Industries, Inc. (OTC:CAWW) announced on April 5, 2021, that it has engaged Janney Montgomery Scott LLC as its exclusive investment banker. This decision follows the authorization from the Company's Board of Directors to explore strategic alternatives. Janney will assist CCA in identifying potential transactions involving the company or its assets. CCA, known for its health and beauty products, continues to seek growth opportunities and enhance shareholder value.
CCA Industries, Inc. (OTC: CAWW) reported a net loss of $127,477 for the year ended November 30, 2020, contrasting with a net income of $554,462 in 2019. Revenue declined 17.6% to $14,124,251 from $17,137,382. Despite the challenges from the COVID pandemic impacting retail sales, internet-based sales rose significantly. The company aims to continue focusing on online sales and reducing overhead costs. Future outlook hinges on the recovery of the retail environment, as management expects sales growth in fiscal 2021.
CCA Industries, Inc. (OTC: CAWW) has entered into a new credit facility with M&T Bank, effective January 21, 2021, to replace its previous line of credit with PNC Bank. This facility includes a $500,000 term loan and a revolving loan of up to $4.5 million. The term loan has a 3.5% interest rate, payable over 36 months. Despite lower overall revenue due to decreased retail traffic, direct-to-consumer sales surged by $1.7 million, or 175%. Additionally, the company plans to explore strategic alternatives with a selected investment banker.
CCA Industries, Inc. (OTC: CAWW) reported a net income of $80,225 for Q3 2020, a significant turnaround from a net loss of $59,747 in Q3 2019. Total revenues for the quarter were $3,735,176, down from $4,108,891 in the previous year. Year-to-date earnings have been impacted by substantial legal fees incurred for the acquisition of the Solar Sense brand. CEO Lance Funston highlighted a strategic shift towards online sales to counteract pandemic-related retail losses. YTD revenue decreased to $10,873,216 from $13,468,602 in the prior year.