CCA Industries Q3 net income up
For the third quarter, the company reported revenues of $14.26 million and earnings per share were $0.29 per share fully diluted, compared with last year's third quarter revenues of $15.99 million and earnings per share of $0.27 fully diluted. For the nine-month period revenues were $46.55 million compared with $49.50 million in the prior year. Net income was $3.835 million compared with net income of $4.70 million for the same period last year. Earnings per share were $0.54 fully diluted compared with $0.66 earnings per share fully diluted for the previous year's nine-month period. David Edell, CEO and director, said: "Because of the company's very strong balance sheet with free cash and marketable securities of $19.99 million and a $25 million unsecured line of credit which has not been drawn down, the board of directors declared a $0.09 per share dividend to all shareholders of record November 1, 2007 payable on December 1, 2007, a 28.6% increase over the dividend paid last year for the fourth quarter." Dunnan Edell, president, said: "We are very enthusiastic about the new and exciting innovative products that we will be introducing to our accounts for additions to their planograms commencing in the first quarter of the new year. I believe that with the professional additions to our management team and the new product introductions, we are looking forward to a very successful fiscal new year."