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CCA Industries swings to profit in fiscal Q1

CCA Industries Inc. said its normalized net income for the fiscal first quarter ended Feb. 28 came to 1 cents per share, compared with a loss of 11 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $83,510, compared with a loss of $784,440 in the prior-year period.

The normalized profit margin increased to 1.2% from negative 12.8% in the year-earlier period.

Total revenue rose 13.2% year over year to $7.0 million from $6.1 million, and total operating expenses declined 13.6% from the prior-year period to $6.4 million from $7.4 million.

Reported net income totaled $71,550, or 1 cents per share, compared to a loss of $1.1 million, or a loss of 15 cents per share, in the year-earlier period.