CHDT Corp. Reports Record 134% Annual Sales Increase and 4th Q Revenues of $2,396,000
Market Wire, March, 2009
CHDT Corp. (OTCBB: CHDO), a Florida-based management company with operating subsidiaries focused on designing and manufacturing consumer products for the North American retail market, reported 4th Quarter revenue of $2,396,000, an increase of 76% over the $1,359,000 reported for the prior year's quarter ended December 31st, 2008. For the year end CHDT reported an increase of 134% over 2008 annual revenues, with revenue of $6,616,330 in 2008, compared to $2,826,842 in 2007.
CHDT had a year end order backlog in excess of $1.5M with shipping windows for the first and second Quarters of 2009. Historically the company's weakest quarter is the first quarter with sales in 2008 of $574,000. For 2009 the company is projecting a 156% increase in sales or a $900,000 increase in first quarter revenues versus the first Q 2008.
"We are pleased with our triple digit revenue growth rate in 2008 and look forward to continued growth in 2009. Our management continues to launch exciting, proprietary, new products that consumers and retailers want to buy," said Howard Ullman, Chairman of CHDT Corp. "Our management team remains focused on product development and product placement in an effort to reach profitability in 2009," he added.
CHDT Corp. reported a year end loss of $1,338,736 versus a loss in 2007 of $1,213,658. Although revenues in 2008 increased 134% the company was not able to narrow the loss year to year as 2007 reflected only five months of salaries since the new management was put into place and 2008 represents a full year of compensation. In 2008 the Company increased expenses in sales and marketing, product development, and depreciation as it continues to invest in its new product lines for continued revenue growth for the future.
The company invites all shareholders, analysts, media, and potential investors to a webcast to discuss the year end results as well as guidance for 2009.
CHDT Corp Conference webcast:
12:00 p.m. Eastern Time today, Monday, March 30th, 2009. To access a live webcast of the conference call via "CHDT Corps" website at www.chdtcorp.com or through www.InvestorCalendar.com . The event will be archived and available for replay through 3/30/2010. The tables below reflect CHDT Corp's net sales and operating income on a pro forma basis for the year end 2008.
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