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CCA Industries swings to profit in fiscal Q2

CCA Industries Inc. said its normalized net income for the fiscal second quarter ended May 31 came to 6 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 $423,780, compared with a loss of $760,720 in the prior-year period.

The normalized profit margin rose to 7.5% from negative 11.4% in the year-earlier period.

Total revenue decreased 14.8% on an annual basis to $5.7 million from $6.7 million, and total operating expenses fell 35.5% year over year to $4.8 million from $7.4 million.

Reported net income totaled $427,580, or 6 cents per share, compared to a loss of $1.8 million, or a loss of 25 cents per share, in the prior-year period.