CHAD Therapeutics fourth-quarter revenue falls to $5.2 million, fiscal year revenue also lower

By Lisa Kerner

Charlotte, N.C., June 29 - CHAD Therapeutics, Inc. said revenue declined to $5.2 million for the fiscal fourth quarter ended March 31 from $5.4 million in the year-ago period.

The net loss for the quarter was $460,000, or $0.05 per diluted share, compared with net earnings were $589,000, or $0.06 per diluted share, in the prior-year period.

For the 12 months ended March 31, revenue declined to $22.4 million from $24.3 million for fiscal 2005.

CHAD reported a net loss for fiscal 2006 of $673,000, or $0.07 per diluted share. That was down from a net profit for fiscal 2005 of $1.8 million, or $0.17 per diluted share.

Company officials said in a news release they expect changes in Medicare reimbursement procedures will ultimately stimulate demand for CHAD's Total O(2) home oxygen filling system.

At March 31, the company had working capital of $9.8 million, including cash and cash equivalents of $935,000, compared with $177,000 at March 31, 2005.

CHAD is in discussions for distribution of its Total O(2) home oxygen filling system and products in development for the sleep disorder market.

Located in Chatsworth, Calif., CHAD develops and markets respiratory care devices.

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