EXHIBIT 99
For Immediate Release
SCOTT'S LIQUID GOLD-INC.
ANNOUNCES FY2006 OPERATING RESULTS
DENVER, Colorado (March 2, 2007) - Scott's Liquid Gold-Inc.
(OTC BB: "SLGD"), which develops, manufactures and markets high
quality household and skin care products, today announced its
operating results for the year 2006.
For the twelve months ended December 31, 2006, the Company reported
a net loss of ($3,586,600), or ($0.34) per share, on net sales of
approximately $16.1 million. These results compared with a net loss
of ($198,100), or ($0.02) per share, on net sales of approximately
$24.1 million, in the previous year. The Company experienced a net
loss of ($938,000) in the fourth quarter of 2006, versus prior
year fourth quarter net loss of ($248,400). Net sales of $4,012,100
in the quarter ended December 31, 2006, compared with net sales of
$6,385,900 in the year-earlier period.
Mark E. Goldstein, Chairman of the Board and Chief Executive Officer
of Scott's Liquid Gold-Inc., commented "During 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 decreases in sales of our
Montagne Jeunesse line of skin care products and our Alpha Hydrox
skin care products. Our net loss for 2006 was $3,586,600 versus
a net loss of $198,100 for 2005. The loss for 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.'s products, include Scott's Liquid Gold
wood cleaners-preservatives, Scott's Liquid Gold Mold Control 500,
Touch of Scent air fresheners, Alpha Hydrox skin care products,
and Neoteric Diabetic Skin Care products. 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; uncertainty of consumer acceptance of
the new Alpha Hydrox products introduced in 2005, and 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; the effect of these and other risk factors on our
liquidity; 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 December31, Year ended December 31,
------------------------- -------------------------
2006 2005 2006 2005
----------- ----------- ----------- -----------
Net sales $ 4,012,100 $ 6,385,900 $16,143,600 $24,139,200
Operating costs
and expenses:
Cost of sales 2,389,800 3,762,000 9,270,000 13,514,500
Advertising 496,600 644,900 1,558,600 1,275,200
Selling 1,327,200 1,511,600 5,516,300 5,933,600
General and
administrative 661,800 682,900 3,228,500 3,462,000
----------- ----------- ----------- -----------
4,875,400 6,601,400 19,573,600 24,185,300
----------- ----------- ----------- -----------
Loss from operations (863,300) (215,500) (3,430,000) (46,100)
Gain on disposal
of assets - - 67,100 -
Interest income 32,000 12,100 94,200 42,300
Interest expense (104,500) (45,000) (315,700) (194,300)
----------- ----------- ----------- -----------
Loss before income
taxes (935,800) (248,400) (3,584,400) (198,100)
Income tax expense (2,200) - (2,200) -
----------- ----------- ----------- -----------
Net loss $ (938,000) $ (248,400) $(3,586,600) $ (198,100)
=========== =========== =========== ===========
Net loss
per common share:
Basic $ (0.09) $ (0.02) $ (0.34) $ (0.02)
=========== =========== =========== ===========
Diluted $ (0.09) $ (0.02) $ (0.34) $ (0.02)
=========== =========== =========== ===========
Weighted average
shares outstanding:
Basic 10,518,000 10,501,700 10,510,500 10,484,600
=========== =========== =========== ===========
Diluted 10,518,000 10,501,700 10,510,500 10,484,600
=========== =========== =========== ===========