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CCA Industries swings to loss in fiscal Q2

CCA Industries Inc. said its normalized net income for the fiscal second quarter ended May 31 amounted to a loss of 11 cents per share, compared with 15 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 a loss of $760,720, compared with income of $1.1 million in the year-earlier period.

The normalized profit margin declined to negative 11.4% from 10.0% in the year-earlier period.

Total revenue declined 38.1% year over year to $6.7 million from $10.8 million, and total operating expenses decreased 17.8% from the prior-year period to $7.4 million from $9.1 million.

Reported net income totaled a loss of $1.8 million, or a loss of 25 cents per share, compared to income of $1.1 million, or 15 cents per share, in the year-earlier period.