EXHIBIT 99
For Immediate Release
SCOTT'S LIQUID GOLD-INC.
ANNOUNCES SECOND QUARTER OPERATING RESULTS
DENVER, Colorado (August 10, 2007) -- 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 2007.
For the three months ended June 30, 2007, net sales were $4,304,200
compared with net sales of $4,133,300 in the second quarter of the
previous year, an increase of $170,900 or 4.1%. The Company reported
a net loss for the second quarter of 2007 of $357,600, or ($0.03) per
share, versus a net loss of $859,900, or ($0.08) in the same period of
the prior year.
Net sales for the six months ended June 30, 2007 totaled $8,480,000,
compared with $8,289,100 in 2006, an increase of $190,900 or 2.3%. The
Company reported a first half 2007 net loss of $789,800, or ($0.07) per
share, as compared with a net loss of $1,907,600, or ($0.18) per share,
in the six months ended June 30, 2006.
Mark E. Goldstein, Chairman of the Board and Chief Executive Officer of
Scott's Liquid Gold-Inc., commented: "During the first half of 2007, we
experienced a decrease in sales of our Scott's Liquid Gold household
chemical products, while experiencing an increase in sales of our Montagne
Jeunesse line of skin care products and an increase in sales of our Alpha
Hydrox skin care products. The decrease in our loss for the first half of
2007 compared to the first half of 2006 resulted primarily from a reduction
in our operating costs and expenses, including the reduction of
advertising."
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)
Three Months Ended Six Months Ended
------------------------- -------------------------
June 30, June 30,
2007 2006 2007 2006
----------- ----------- ----------- -----------
Net sales $ 4,304,200 $ 4,133,300 $ 8,480,000 $ 8,289,100
Operating costs
and expenses:
Cost of sales 2,340,600 2,567,400 4,687,100 4,810,900
Advertising 88,800 107,600 201,100 701,300
Selling 1,379,000 1,410,200 2,634,400 2,835,700
General and
administrative 768,800 863,200 1,582,900 1,775,300
----------- ----------- ----------- -----------
4,577,200 4,948,400 9,105,500 10,123,200
----------- ----------- ----------- -----------
Loss from operations (273,000) (815,100) (625,500) (1,834,100)
Interest income 19,600 14,300 43,800 26,900
Interest expense (104,200) (59,100) (208,100) (100,400)
----------- ----------- ----------- -----------
(357,600) (859,900) (789,800) (1,907,600)
Income tax expense
(benefit) - - - -
----------- ----------- ----------- -----------
Net loss $ (357,600) $ (859,900) $ (789,800) $(1,907,600)
=========== =========== =========== ===========
Net loss per common
share:
Basic and Diluted $ (0.03) $ (0.08) $ (0.07) $ (0.18)
=========== =========== =========== ===========
Weighted average shares
outstanding:
Basic and Diluted 10,533,000 10,503,000 10,533,000 10,503,000
=========== =========== =========== ===========