Chantal Pharmaceutical reports first profitable quarter.LOS ANGELES--(BUSINESS WIRE)--May 23, 1995--Chantal Pharmaceutical Corp. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CHTL) today reported its first profitable quarter. Reporting results for the third quarter of fiscal 1995, ending March 31, 1995, the company reported a 28 percent increase in revenue of $2,813,136 as compared to $96,997 for the same period one year ago. Net income for the quarter was $408,752 or $.03 per share, as compared to a loss one year ago of $278,606 or $.03 per share. For the nine months ending March 31, 1995, the company reported revenue of $3,856,049 with a net loss of $776,441 or $.06 per share compared to revenue of $134,102 with a net loss of $1,054,992 or $.11 per share for the period one year ago. Chantal Burnison, chairman and chief executive officer of the company noted that the increase in revenue is principally due to sales of Ethocyn-based skin care cosmetic products of the company. Losses in the prior period are attributable to the company's then research and development status. On February 24, 1995, the company announced it would seek to acquire the shares of Chantal Skin Care, which the company does not presently own. On March 9, 1995, the company commenced an exchange offer seeking to acquire the shares of Chantal Skin Care owned by shareholders located outside of the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , through the exchange of one share of the company stock for one share of Chantal Skin Care. The company believes that such shareholders own approximately 2.7 million shares of Chantal Skin Care. Upon completion of the exchange offer, which is still pending, the company hopes to own at least 90 percent of the outstanding shares of Chantal Skin Care. It is the company's intention to effect a merger of Chantal Skin Care with and into a newly formed, wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of the company. Chantal Pharmaceutical Corp., based in Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. , Calif., in addition to marketing the Ethocyn-based Chantal Skin Care cosmetic line, is engaged in on-going research of scientifically-based cosmetic products and in the research and development of topical and systemic pharmaceutical and therapeutic compounds for the treatment of androgen androgen (ăn`drəjən): see testosterone. androgen Any of a group of hormones that mainly influence the development of the male reproductive system. mediated disorders such as acne acne, common inflammatory disease of the hair follicles and sebaceous glands characterized by blackheads, whiteheads, pustules, nodules and, in the more severe forms, by cysts and scarring. The lesions appear on the face, neck, back, chest, and arms. , hirsutism Hirsutism Definition Excessive growth of facial or body hair in women is called hirsutism. Description Hirsutism is not a disease. The condition usually develops during puberty and becomes more pronounced as the years go by. , male pattern baldness male pattern baldness n. A progressive, diffuse loss of scalp hair in men that begins in the twenties or early thirties, depends on the presence of the androgenic hormone testosterone, and is caused by a combination of genetic and hormonal factors. , benign prostate hypertrophy hypertrophy (hīpûr`trəfē), enlargement of a tissue or organ of the body resulting from an increase in the size of its cells. Such growth accompanies an increase in the functioning of the tissue. and the treatment of certain cancers. The company has three principal patented compounds for which it holds exclusive manufacturing and distribution rights: Cyoctol(TM), Ethocyn(TM), and Metcyclor(TM). -0-
Financial Highlights
Three months ended Nine months ended
March 31 March 31
1995 1994 1995 1994
Revenue $2,813,136 $96,997 $3,856,049 $134,102 Net income (loss) $408,752 $(278,606) $(776,441) $(1,054,992) Net income (loss) per share $.03 $(.03) $(.06) $(.11) Weighted average shares outstanding 13,840,516 9,321,516 12,556,627 9,321,516 CONTACT: Martin E. Janis & Company Inc. Beverly Jedynak, 312/943-1100 |
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