EXHIBIT 99
For Immediate Release
SCOTT'S LIQUID GOLD-INC.
ANNOUNCES FY2007 OPERATING RESULTS
DENVER, Colorado (March 7, 2008) - 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 2007.
For the twelve months ended December 31, 2007, the Company reported a
net loss of ($1,310,800), or ($0.12) per share, on net sales of
approximately $17.9 million. These results compared with a net loss of
($3,586,600), or ($0.34) per share, on net sales of approximately
$16.1 million, in the previous year. The Company experienced net income
of $58,500 in the fourth quarter of 2007, versus prior year fourth
quarter net loss of ($938,000). Net sales of $5,108,400 in the quarter
ended December 31, 2007, compared with net sales of $4,012,100 in the
year-earlier period.
Mark E. Goldstein, Chairman of the Board and Chief Executive Officer
of Scott's Liquid Gold-Inc., commented "During 2007, we experienced a
decrease in sales of our 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. The
decrease in our loss for 2007 compared to 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 the 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
2007, 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; continuing losses which could affect 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,
------------------------- -------------------------
2007 2006 2007 2006
----------- ----------- ----------- -----------
Net sales $ 5,108,400 $ 4,012,100 $17,918,500 $16,143,600
Operating costs
and expenses:
Cost of sales 2,821,200 2,389,800 10,117,600 9,270,000
Advertising 65,000 496,600 332,800 1,558,600
Selling 1,392,200 1,327,200 5,433,500 5,516,300
General and
administrative 676,000 661,800 2,994,800 3,228,500
----------- ----------- ----------- -----------
4,954,400 4,875,400 18,878,700 19,573,600
----------- ----------- ----------- -----------
Income (loss)
from operations 154,000 (863,300) (960,200) (3,430,000)
Gain on disposal
of assets - - - 67,100
Interest income 11,700 32,000 72,300 94,200
Interest expense (107,200) (104,500) (422,900) (315,700)
----------- ----------- ----------- -----------
Income (loss) before
income taxes 58,500 (935,800) (1,310,800) (3,584,400)
Income tax expense - (2,200) - (2,200)
----------- ----------- ----------- -----------
Net income (loss) $ 58,500 $ (938,000) $(1,310,800) $(3,586,600)
=========== =========== =========== ===========
Net income (loss)
per common share:
Basic $ 0.01 $ (0.09) $ (0.12) $ (0.34)
=========== =========== =========== ===========
Diluted $ 0.01 $ (0.09) $ (0.12) $ (0.34)
=========== =========== =========== ===========
Weighted average
shares outstanding:
Basic 10,562,700 10,518,000 10,543,400 10,510,500
=========== =========== =========== ===========
Diluted 10,562,700 10,518,000 10,543,400 10,510,500
=========== =========== =========== ===========