EXHIBIT 99
For Immediate Release
SCOTT'S LIQUID GOLD-INC.
ANNOUNCES FIRST QUARTER OPERATING RESULTS
DENVER, Colorado (May 2, 2008) -- 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 first quarter of 2008.
For the three months ended March 31, 2008, net sales were $4,093,800
compared with net sales of $3,861,800 in the first quarter of the
previous year. The Company reported a net loss of $454,200 or ($0.04)
per share, in the most recent quarter, versus a net loss of $746,200
or ($0.07) per share, in the three months ended March 31, 2007.
Mark E. Goldstein, Chairman of the Board and Chief Executive Officer
of Scott's Liquid Gold-Inc., commented "During the first quarter of
2008, we experienced an overall increase in net sales and a decrease
in our net loss as compared to the first quarter of 2007. The
decrease in our loss for the first quarter of 2008 compared to the
first quarter of 2007 resulted from a reduction in our sales
promotion expenses which are deducted from gross sales."
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, Davinci
and Moosehead men's grooming products, and bath, body and hair care
products from Baylis & Harding. 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)
Three Months Ended
March 31,
2008 2007
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Net sales $ 4,093,800 $ 3,861,800
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Operating costs and expenses:
Cost of Sales 2,201,900 2,346,500
Advertising 111,200 112,300
Selling 1,340,300 1,255,400
General and administrative 800,000 814,100
----------- -----------
4,453,400 4,528,300
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Loss from operations (359,600) (666,500)
Interest income 8,500 24,200
Interest expense (103,100) (103,900)
----------- -----------
Loss before income taxes (454,200) (746,200)
Income tax expense (benefit) - -
----------- -
Net loss $ (454,200) $ (746,200)
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Net loss per common share:
Basic $ (0.04) $ (0.07)
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Diluted $ (0.04) $ (0.07)
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Weighted average shares outstanding:
Basic 10,582,700 10,533,000
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Diluted 10,582,700 10,533,000
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