CHAD Therapeutics Reports Third Quarter Results.CHATSWORTH, Calif. -- CHAD Therapeutics, Inc. (AMEX AMEX See: American Stock Exchange :CTU CTU Colorado Technical University CTU Czech Technical University in Prague CTU Counter Terrorist Unit CTU Clinical Trials Unit CTU Catholic Theological Union CTU Chicago Teachers Union CTU Computer Training Unit CTU Control Unit ) today announced operating results for the third quarter and first nine months of fiscal 2008. "As previously announced, CHAD has decided to exit the oxygen business in order to focus exclusively on the proprietary medical devices we are developing for the diagnosis and treatment of sleep disorders Sleep Disorders Definition Sleep disorders are a group of syndromes characterized by disturbance in the patient's amount of sleep, quality or timing of sleep, or in behaviors or physiological conditions associated with sleep. such as obstructive sleep apnea Obstructive sleep apnea (OSA) A potentially life-threatening condition characterized by episodes of breathing cessation during sleep alternating with snoring or disordered breathing. . In this connection, we are scheduled to close the sale of the assets related to CHAD's oxygen conserving business to Inovo, Inc. on February 15, 2008 for approximately $5.25 million in cash. In addition, we hope soon to sell our trans-filling assets," said President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Earl Yager. Third Quarter Results For the three months ended December 31, 2007, net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight decreased to $2,929,000 compared to $4,307,000 for the third quarter of fiscal 2007. The net loss for the third quarter of fiscal 2008 was $868,000, or $0.09 per basic and diluted share. This compares to a net loss for the third quarter of fiscal 2007 of $435,000, or $0.04 per basic and diluted share. Nine Month Results For the nine months ended December 31, 2007, net sales decreased to $10,108,000 compared to $14,766,000 for the first nine months of fiscal 2007. The net loss for this year's first nine months was $3,511,000, or $0.34 per basic and diluted share. This compares to a net loss for the first nine months of fiscal 2007 of $858,000, or $0.08 per basic and diluted share. About CHAD Therapeutics CHAD Therapeutics, Inc. develops, manufactures and markets respiratory care devices designed to improve the efficiency of oxygen delivery systems for home health care and hospital treatment of patients suffering from pulmonary diseases. For more information, visit www.CHADtherapeutics.com. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statements under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. The foregoing statements regarding prospects for future earnings and revenues, future sales trends and the introduction of products under development are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve certain risks and uncertainties. A number of important factors could cause actual results to differ materially from those contemplated by such forward-looking statements. These include the loss of one or more major customers, increased competition, the introduction of new products with perceived competitive advantages over the Company's products, changes or proposed changes in health care reimbursement which affect home care providers and CHAD's ability to anticipate and respond to technological and economic changes in the home oxygen market. Moreover, the success of the Company's products and products under development will depend on their efficacy, reliability and the health care community's perception of the products' capabilities and benefits, the degree of acceptance the products achieve among homecare providers and, with respect to products under development, obtaining timely regulatory approval. Additional factors that could cause actual results to differ materially from those contemplated in this press release can be found in the Company's annual and quarterly reports filed with the Securities and Exchange Commission under the caption "Outlook: Issues and Risks." [TABLE OMITTED] [TABLE OMITTED] |
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