EXHIBIT 99
For Immediate Release
SCOTT'S LIQUID GOLD-INC.
REPORTS THIRD QUARTER OPERATING RESULTS
DENVER, Colorado (November 13, 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 third quarter and first nine months of the year 2007.
For the three months ended September 30, 2007, net sales were
$4,644,100, compared with net sales of $3,842,400 in the third
quarter of the previous year, an increase of $801,700 or 20.9%.
The Company reported a net loss for the third quarter of 2007 of
$265,500 or ($0.03) per share, as compared with net loss of $741,000,
or ($0.07) per share, in the three months ended September 30, 2006.
Net sales for the nine months ended September 30, 2007 totaled
$12,810,100, compared with $12,131,500 in 2006, an increase of $678,600
or 5.6%. For the nine months ended September 30, 2007, the Company
reported a net loss of $1,369,300 or ($0.13) per share compared with a
net loss of $2,648,600, or ($0.25) per share, in the corresponding
period of the previous year.
Mark E. Goldstein, Chairman of the Board and Chief Executive Officer
of Scott's Liquid Gold-Inc., commented: "During the first nine months
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 a decrease in
sales of our Alpha Hydrox skin care products. Our net loss for the
first nine months of 2007 was $1,369,300 versus a loss of $2,648,600 in
the first nine months of 2006. The decrease in our loss for the first
nine months of 2007 compared to the first nine months of 2006 results
from an increase in sales, and a reduction in our operating costs and
expenses."
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 Nine Months
Ended September 30, Ended September 30,
------------------------ ------------------------
2007 2006 2007 2006
----------- ----------- ----------- -----------
Net sales $ 4,644,100 $ 3,842,400 $12,810,100 $12,131,500
Operating costs
and expenses:
Cost of sales 2,609,300 2,069,300 7,296,400 6,880,200
Advertising 66,700 360,900 267,800 1,062,200
Selling 1,406,900 1,353,400 4,041,300 4,189,100
General and
administrative 735,800 791,400 2,318,700 2,566,700
----------- ----------- ----------- -----------
4,818,700 4,575,000 13,924,200 14,698,200
----------- ----------- ----------- -----------
Loss from operations (174,600) (732,600) (1,114,100) (2,566,700)
Gain on disposal
of assets - 67,100 - 67,100
Interest income 16,700 35,300 60,600 62,200
Interest expense (107,600) (110,800) (315,700) (211,200)
----------- ----------- ----------- -----------
Loss before
income taxes (265,500) (741,000) (1,369,300) (2,648,600)
Income tax expense
(benefit) - - - -
----------- ----------- ----------- -----------
Net loss $ (265,500) $ (741,000) $(1,369,300) $(2,648,600)
=========== =========== =========== ===========
Net loss per
common share:
Basic $ (0.03) $ (0.07) $ (0.13) $ (0.25)
=========== =========== =========== ===========
Diluted $ (0.03) $ (0.07) $ (0.13) $ (0.25)
=========== =========== =========== ===========
Weighted average
shares outstanding:
Basic 10,545,000 10,503,000 10,537,000 10,503,000
=========== =========== =========== ===========
Diluted 10,545,000 10,503,000 10,537,000 10,503,000
=========== =========== =========== ===========