02.13.03
CCA Industries, Inc. announced today that its year-end profits rose 52% per share from $0.27 per share to $0.41 per share. Revenues were up 9.5% from $41.7 million to $45.6 million. Net income was up 52.6% to $3.0 million from $2.0 million. Profits were helped by the strong improvements of its health, beauty aids and nutraceutical products, Plus+White whitening toothpastes, Nutra Nail nail treatments, Sudden Change skin care products, Bikini Zone pre and after shave products and Hair Off depilatories. The company's entire product range showed strong consumer acceptance.
As a result of the profits and the optimistic expectations based upon the stronger demand for the company's products during the first quarter, the company announced its first cash dividend of $0.12 a share payable to all holders of CCA's common stock, $0.06 payable to shareholders of record on April 1, 2003 and $0.06 payable to shareholders of record on November 1, 2003.
David Edell, president and chief operating officer, commented, "Based upon the initial response our products have received in the beginning of this year, the company engaged PNC Capital Markets, Inc. to assist the board of directors consideration for a full range of strategic alternatives to enhance shareholders value, either through a joint venture, acquisition, merger or sale of the company."
CCA's chairman, Ira W. Berman stated that "based on last year's record earnings and the strong reaction to the company's line of core and new products this year, the board of directors does not believe that the value of the company is adequately reflected in CCA's share price."
As a result of the profits and the optimistic expectations based upon the stronger demand for the company's products during the first quarter, the company announced its first cash dividend of $0.12 a share payable to all holders of CCA's common stock, $0.06 payable to shareholders of record on April 1, 2003 and $0.06 payable to shareholders of record on November 1, 2003.
David Edell, president and chief operating officer, commented, "Based upon the initial response our products have received in the beginning of this year, the company engaged PNC Capital Markets, Inc. to assist the board of directors consideration for a full range of strategic alternatives to enhance shareholders value, either through a joint venture, acquisition, merger or sale of the company."
CCA's chairman, Ira W. Berman stated that "based on last year's record earnings and the strong reaction to the company's line of core and new products this year, the board of directors does not believe that the value of the company is adequately reflected in CCA's share price."