EXHIBIT 99
For Immediate Release
SCOTT'S LIQUID GOLD-INC.
ANNOUNCES SECOND QUARTER OPERATING RESULTS
DENVER, Colorado (August 11, 2006) -- Scott's Liquid Gold-Inc.
(OTC BB: "SLGD"), which develops, manufactures and markets household
and skin care products, today announced its operating results for
the second quarter and first six months of the year 2006.
For the three months ended June 30, 2006, net sales were $4,133,300
compared with net sales of $5,724,800 in the second quarter of the
previous year, a decrease of $1,591,500 or 27.8%. The Company
reported a net loss for the second quarter of 2006 of $859,900, or
($0.08) per share, versus a net loss of $138,500, or ($0.01) in the
same period of the prior year.
Net sales for the six months ended June 30, 2005 totaled $8,289,100,
compared with $11,247,300 in 2005, a decrease of $2,958,200 or 26.3%.
The Company reported a first half 2006 net loss of $1,907,600, or
($0.18) per share, as compared with a net loss of $533,400, or ($0.05)
per share, in the six months ended June 30, 2005.
Mark E. Goldstein, Chairman of the Board and Chief Executive Officer
of Scott's Liquid Gold-Inc., commented: "During the first half of
2006, we experienced an increase in sales of our household chemical
products primarily because of our introduction of our new mold
control product Mold Control 500, while experiencing a decrease in
sales of our Montagne Jeunesse line of skin care products and a
decrease in sales of our Alpha Hydrox skin care products. Our net
loss for the first half of 2006 was primarily due to lower sales of
the Montagne Jeunesse product line and reduced sales of our Alpha
Hydrox skin care line."
Scott's Liquid Gold-Inc. develops, manufactures and markets high
quality household and consumer products, including Scott's Liquid
Gold wood cleaners/preservatives, Touch of Scent air fresheners,
Alpha Hydrox skin care products, and Neoteric Diabetic Skin Care
products. Scott's Liquid Gold-Inc. assembles and packages Scott's
Liquid Gold Mold Control 500. Scott's Liquid Gold-Inc. also
distributes skin care and other sachets of Montagne Jeunesse. The
Company is headquartered in Denver, Colorado, and its common stock
trades on the OTC Bulletin Board under the symbol "SLGD".
Additional information on Scott's Liquid Gold-Inc. and its products
can be accessed on the World Wide Web: www.scottsliquidgold.com,
www.alphahydrox.com, www.touchofscent.com, and www.neotericdiabetic.com.
This press release may contain "forward-looking" statements within
the meaning of U.S. federal securities laws. These statements are
made pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements and the
Company's performance inherently involve risks and uncertainties that
could cause actual results to differ from such forward-looking
statements. Factors that would cause or contribute to such
differences include, but are not limited to, continued acceptance of
each of our significant products in the marketplace; the degree of
success of any new product or product line introduction by us; the
uncertainty of consumer acceptance of the new Alpha Hydrox, mold
control and wood wash products; competitive factors; any decrease
in distribution of (i.e., retail stores carrying) our significant
products; continuation of our distributorship agreement with Montagne
Jeunesse; the need for effective advertising of our products; limited
resources available for such advertising; new competitive products
and/or technological changes; dependence upon third party vendors and
upon sales to major customers; changes in the regulation of our
products, including applicable environmental regulations; adverse
developments in pending litigation; the loss of any executive officer;
and other risks discussed in this release and in the Company's
periodic report filings with the Securities and Exchange Commission.
By making these forward-looking statements, the Company undertakes no
obligation to update these statements for revisions or changes after
the date of this release.
For further information, please contact:
Jeffry B. Johnson at (303) 373-4860
SCOTT'S LIQUID GOLD-INC.
& Subsidiaries
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)
Quarter ended June 30, Six Months ended June 30,
------------------------ -------------------------
2006 2005 2006 2005
----------- ----------- ----------- -----------
Net sales $ 4,133,300 $ 5,724,800 $ 8,289,100 $11,247,300
Operating costs
and expenses:
Cost of sales 2,567,400 3,131,400 4,810,900 6,238,900
Advertising 107,600 202,000 701,300 478,500
Selling 1,410,200 1,491,000 2,835,700 2,966,300
General and
administrative 863,200 999,200 1,775,300 2,022,000
----------- ----------- ----------- -----------
4,948,400 5,823,600 10,123,200 11,705,700
----------- ----------- ----------- -----------
Loss from
operations (815,100) (98,800) (1,834,100) (458,400)
Interest income 14,300 7,800 26,900 20,400
Interest expense (59,100) (47,500) (100,400) (95,400)
----------- ----------- ----------- -----------
(859,900) (138,500) (1,907,600) (533,400)
Income tax
expense (benefit) - - - -
----------- ----------- ----------- -----------
Net loss $ (859,900) $ (138,500) $(1,907,600) $ (533,400)
=========== =========== =========== ===========
Net loss per
common share:
Basic and
Diluted $ (0.08) $ (0.01) $ (.18) $ (0.05)
=========== =========== =========== ===========
Weighted average
shares outstanding:
Basic and
Diluted 10,503,000 10,471,000 10,503,000 10,471,000
=========== =========== =========== ===========