CCA Industries, Inc. announced revenues for the fiscal year ended Nov. 30, 2008 dropped 6% to $57.4 million. Revenues for the fourth quarter dropped 19% to $12 million due to the declining economy, according to the personal care product marketer.
“In addition to the additional costs to operate in this economy, we increased our overall advertising expenses…we believe that a recession requires aggressive marketing. We decided that it was necessary to spend the additional advertising expenses in the fourth quarter to maintain consumer recognition for some of our brands,” said David Edell, chief executive officer of CCA Industries.
“Our company is prepared for the economic challenge facing our country in 2009. We have already begun to streamline our operating costs for fiscal 2009 and to continue with productive advertising to support our products whose price points are attractive to today’s price conscious consumer. Fortunately, our company has the capital necessary to meet our working capital requirements without the need of any outside financing. We therefore are confident that we will generate positive and profitable results by the end of our 2009 fiscal year,” he said.