Chad Therapeutics Reports Second-Quarter Results.Business Editors CHATSWORTH, Calif.--(BUSINESS WIRE)--Nov. 3, 2000 Chad Chad (chăd, chäd), Fr. Tchad, officially Republic of Chad, republic (2005 est. pop. 9,826,000), 495,752 sq mi (1,284,000 sq km), N central Africa. Therapeutics therapeutics Treatment and care to combat disease or alleviate pain or injury. Its tools include drugs, surgery, radiation therapy, mechanical devices, diet, and psychiatry. 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 ), producer and distributor of oxygen-conserving devices and oxygen systems used by pulmonary pulmonary /pul·mo·nary/ (pool´mo-nar?e) 1. pertaining to the lungs. 2. pertaining to the pulmonary artery. pul·mo·nar·y adj. Of, relating to, or affecting the lungs. patients who need supplementary oxygen, today announced operating results for the second quarter ended Sept. 30, 2000. Sales for the quarter were $3,134,000, a decrease of $282,000, or 8 percent from the same quarter last year. For the six months ended Sept. 30, sales declined to $6,099,000, down 14 percent from the same period last year. The company's net loss for the second quarter was $685,000 (7 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. ), compared with a loss of $434,000 (4 cents per share) for the same quarter last year. For the six months ended Sept. 30, the net loss was $1,405,000 (14 cents per share), compared with a loss of $588,000 (6 cents per share), for the same period last year. Thomas E. Jones, chief executive officer, stated: "Sales in the OXYMATIC(R) conserver line continue to be affected by competitive factors. However, during the quarter ending Sept. 30, 2000, the company began sales and shipments of the new OXYMATIC Model 401 conserver and initial results have been encouraging. "Sales of this new product have been the primary reason for an increase in domestic unit sales unit sales Sales measured in terms of physical units rather than dollars. Unit sales data are often used by financial analysts when evaluating the health of a company. in the oxygen conserver line over the prior year's quarter, although dollar sales declined due to reductions in average selling prices The average sales price of goods or commodities. Especially used in the retail sector and technology distribution. . Progress also continues on several other products designed to further improve our competitive position and expand market share in the conserver field." Jones further stated: "Sales of the TOTAL O2(R) Delivery System increased during the September quarter led by international sales of this product. While sales in the U.S. continue to increase slowly, we believe the cost effectiveness of this product and the patient benefits it provides may lead to faster market penetration Noun 1. market penetration - the extent to which a product is recognized and bought by customers in a particular market penetration - the act of entering into or through something; "the penetration of upper management by women" ." The foregoing statements regarding prospects for the TOTAL O2 system, OXYMATIC Model 401 conserver and 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. The success of these products will depend upon, among other things, the healthcare community's perception of each product's capabilities and benefits, the degree of acceptance the products achieve among homecare providers and patients and with respect to products under development, obtaining timely regulatory approval.
CHAD THERAPEUTICS INC.
Selected Financial Data
Sept. 30, 2000
Six Months Ended Three Months Ended
Sept. 30, Sept. 30,
2000 1999 2000 1999
Net Sales $6,099,000 $7,054,000 $3,134,000 $3,416,000
Interest Income 39,000 7,000 28,000 8,000
Earnings (Loss) Before
Income Taxes (1,405,000) (710,000) (685,000) (456,000)
Net Earnings (Loss) (1,405,000) (588,000) (685,000) (434,000)
Basic Earnings (Loss)
Per Share (.14) (.06) (.07) (.04)
Diluted Earnings (Loss)
Per Share (.14) (.06) (.07) (.04)
Balance As of
Sept. 30,
2000 1999
Cash & Marketable Securities $ 1,824,000 $ 1,801,000
Total Assets 12,198,000 15,405,000
Shareholders' Equity $10,809,000 $14,117,000
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