- CCA Industries (CAW -8%) reports Q2 revenue decrease of 31% Y/Y to $4.2M.
- Net loss of $0.3M (-142.9% Y/Y), the loss was due to a dispute with an international customer which resulted in the Company taking a reserve of $0.5M lowering net sales.
- “We believe the Company has taken the correct approach with the international customer and it is unfortunate that we had to reserve for the receivable that is due to us. We anticipate a return to profitability in Q3 2018.” said Lance Funston, Chief Executive Officer.
- Previously: CCA Industries reports Q2 results (July 16)