CCA Industries, Inc., a leading marketer and distributor of health and beauty aids, announced the appointment of Richard Kornhauser as CEO and president, effective immediately.
The unfortunate loss of the company's dynamic CEO Dunnan Edell earlier in 2013 caused it to operate without a full-time CEO during the last eight months. Without the energy, passion and creativity that Edell brought to CCA Industries and its successful brands, the company lost important momentum in 2013. As a result the company's performance, in-store merchandising position and turnover were not nearly on par with its successful efforts over the past 25 years.
The company and its board has been seeking an experienced, energetic and creative CEO and is now pleased to announce that it has employed Richard Kornhauser to help drive CCA Industries going forward.
Over the past 30 years, Kornhauser has honed his well-developed management skills, strong entrepreneurial drive, and keen sense of opportunities in the health and beauty aids industry at companies with very similar problem-solution brands to CCA Industries: Chattem, Combe Incorporated and FGX International. Kornhauser was instrumental in spearheading the marketing and advertising efforts that helped drive significant and profitable growth for such brands as Gold Bond skin care, Icy Hot topical analgesics, Selsun-Blue dandruff shampoo, Sea Bond denture care, Odor-Eaters foot care, and even the Foster Grant eyewear brand.
CCA also has commenced a major reorganization of it's operations so it can focus all its energy and financial strength on the it's products. The company has already substantially reduced overhead and will also temporarily suspend its quarterly dividend. These savings are being targeted for new marketing and advertising programs, including new product launches and sales promotional efforts that will trigger new momentum in the coming year.
The company reported total revenues for the third quarter ended August 31, 2013 of $9,734,911 and a net loss of $792,892. For the same period of 2012, the company had revenues of $14,003,207 and net income of $428,747. The basic and fully diluted loss per share for the third quarter of 2013 was $0.11 as compared to basic and fully diluted earnings per share of $0.06 for same period of 2012. Total revenues for the nine months ended August 31, 2013 were $32,796,772, as compared to $42,401,926, for the same period in 2012. The company reported a net loss for the first nine months of fiscal 2013 of $1,965,119, as compared to net income of $818,381 for the same period in fiscal 2012. The basic and fully diluted loss per per share for the nine months ended August 31, 2013 was $0.28 as compared to the basic and fully diluted earnings per share of $0.12 for the same period in 2012.
CCA Industries, Inc. manufactures and markets health and beauty aids, each under its individual brand name. The products include, principally, Plus+White toothpastes and teeth whiteners, Mega-T Green Tea diet supplements, Mega-T Green Tea gum and mint products, Bikini Zone medicated topical and shave gels, Nutra Nail nail care treatments, Gel Perfect UV-free gel color, Scar Zone scar treatment products, Sudden Change anti-aging skin care products, Cherry Vanilla fragrances, Solar Sense sun protection products, Hair Off hair removal and depilatory products, Wash 'N Curl shampoos and conditioners, and Pain Bust RII, an analgesic product.
