Chad’s revenue jumps to eight-year high
November 8, 2004
CHATSWORTH, Calif. - Chad Therapeutics tripled its earnings during the second quarter of 2005 and boosted net sales 19% compared to the same quarter last year. For the first six months of fiscal 2005, net earnings increased 92% compared to the same period last year.
For the three months ended Sept. 30, revenue increased 19% to $6.3 million, an eight-year high, from $5,3 million for last year's second quarter. Net earnings increased 203% to $455,000, from $150,000 a year earlier.
For the first six months of fiscal 2005, revenue increased 13% to $12.4 million from $10.9 million for the first six months of fiscal 2004. Net earnings increased 92% to $717,000 from $374,000.
Earl L. Yager, chief executive officer and president, said that domestic sales for the second quarter grew 15% as Chad began shipping significant numbers of its new Sage Therapeutic Device in September. "Introduced earlier this year, our new Sage device employs our proprietary technologies to sense an oxygen patient's movements and automatically adjust the rate of oxygen delivery to reduce the risk of oxygen desaturation as activity increases. The Sage device, along with Chad's Oxymatic 400 Series electronic conservers and Cypress OXYPneumaticÂ conservers, provide the industry's widest range of cost-effective choices for homecare providers to satisfy individual patient requirements and preferences for ambulatory oxygen products."