CCA Industries 1Q Profit Jumps

CCA Industries, Inc.

announced that its net income jumped to $203,369 in the first quarter from $57,608 in the previous year quarter. Its earnings per share also increased to three cents from one cent in the comparable period. CCA Industries said that its revenues dropped 32.7% to $4.684 million from $6.957 million in the year-ago quarter. The company's CEO, Lance Funston, said, "Our first quarter results show that the efforts to reduce the Company's overhead are taking effect. I am pleased to note that selling, general and administrative expenses in the first quarter of fiscal 2016 decreased almost 33% as compared to the first quarter of fiscal 2015." Funston stated further that "Management is continuing to explore how to make our operations more efficient in order to reduce costs further. At the same time, we are investing in our performing brands with new advertising as part of our efforts to increase shareholder value." On Friday, the stock traded flat.