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Friday, Apr 26, 2024

Chad Reports Earnings Drop

Chad Therapeutics Inc. reported earnings of $39,000, or $0.00 per diluted share, on revenues of $5.91 million in the third quarter of fiscal 2006, compared to earnings of $505,000, or $0.05 per diluted share, on revenues of $6.44 million in same period the previous year. Chad said that sales of oxygen conservers fell 30 percent during the first nine months of fiscal 2006 because of pricing pressure and the reduction of sales to a major customer. International sales, which make up a relatively small portion of Chad’s business, increased 312 percent during the same period. Chad has previously stated that it has engaged an investment banking firm to help the company’s board in evaluating “strategic opportunities and considering alternatives to maximize value for Chad’s shareholders,” but said it could not provide any further comment yet.

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