CHDT Corp. (CHDO.OB) Posts Triple-Digit Revenue Increases in 2008, as well as $1.5M Backlog for 2009Monday, March 30th, 2009
CHDT Corp. (CHDO.OB) is a Florida-based management company focused on the operations and direction of its numerous subsidiaries, specializing on designing and manufacturing consumer products for the North American retail market. The company today posted its fourth-quarter and full-year financials for the period ended December 31, 2008, reporting significant increases across the board, fueled by new products and a sturdy management team.
CHDT reported revenue for the fourth quarter at $2.39 million, up 76% from the $1.35 million reported for the same period last year. Year-end revenue soared 134% to $6.61 million, up from $2.82 million reported in 2007. Howard Ullman, chairman of CHDT, said the company anticipates maintaining its impressive figures throughout 2009 as it moves toward profitability.
“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,” Ullman stated in the press release. “Our management team remains focused on product development and product placement in an effort to reach profitability in 2009.”
The company also announced a year-end order backlog of more than $1.5 million, which it expects to ship in the first half of 2009. Though the first quarter has proved to be the company’s weakest quarter in the past, CHDT expects a 156% increase in sales for the first quarter of 2009, compared to the first quarter of 2008.
Despite the 134% year-end revenue increase, CHDT posted a year-end loss of $1.33 million, as compared to $1.21 million lost in 2007. The company attributes this to additional salaries for the new management team. In 2008, the company also boosted sales and marketing expenses, and increased spending for product development and depreciation as it invests in new product lines to meet its goal of profitability in 2009.
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