CHDT Corp. Reports Record Revenues and Profits for 3rd Quarter FY 2008: Financial News

CHDT Corp. Reports Record Revenues and Profits for 3rd Quarter FY 2008
Wednesday October 29, 2008 8:33 am ET

DEERFIELD BEACH, FL--(MARKET WIRE)--Oct 29, 2008 -- CHDT Corp. (OTC BB:CHDO.OB - News), a Florida-based management company with operating subsidiaries focused on designing and manufacturing consumer products for the North American retail market, reported today financial results for the third Quarter of 2008.

Revenues increased 271% versus the 3rd Quarter of 2007. The company had revenues of $3,021,924 versus $814,688 in the 3rd Quarter of 2007. Nine month gross revenues increased 203% to $4,290,702 FY 2008 versus $1,415,165 in 2007.

For the three months ended September 30th, the company had net income of $63,581 from continuing operations versus a net loss of $267,764 in 2007 and a net loss of $512,118 in Q2 of 2008. Total assets increased to $5,654,005 in Q3 versus 3,693,374 in Q2 due to increased cash and accounts receivables.

The company has an order backlog in excess of $4,000,000 and expects sales to continue to steadily grow over the next few quarters as it implements additional STP®, Eco-i-Lite(TM), and Take(TM) programs. The fourth quarter will be the first full quarter of the year that all its product lines launched in 2007/2008 will contribute to the company's revenue stream. The fourth quarter is also historically the company's highest performing quarter due to holiday shipments.

"We are pleased with gross sales levels and profitability for the 3rd Quarter of FY2008, especially in light of very uncertain, challenging, general economic conditions in the U.S. In spite of this environment we continue to make progress in growing sales. Our management team had the insight in 2007 to developing new technology products that consumer's desire and we will continue launching exciting new products in 2009," said Chairman Howard Ullman. "The company has turned the corner from losses to profitability and we expect to continue on our growth plan throughout 2009."

CHDT Corp Conference webcast:

1:00 p.m. Eastern Time tomorrow, 10/30/2008. Members of the news media, investors and the general public are invited to access a live webcast of the conference call via www.InvestorCalendar.com. The event will be archived and available for replay through 10/30/2009.

The tables below reflect CHDT Corp.'s net sales and operating income on a pro forma basis for the third quarter ended September 30th, 2008.

 
                    CHDT CORPORATION AND SUBSIDIARIES
                  CONSOLIDATED STATEMENTS OF OPERATIONS

                            (Unaudited)                 (Unaudited)
                    For the Three Months Ended  For the Nine Months Ended
                          September 30,               September 30,
                        2008          2007          2008          2007
                    ------------  ------------  ------------  ------------

Revenues            $  3,021,926  $    814,687  $  4,290,702  $  1,415,165
Cost of Sales         (2,068,727)     (456,918)   (2,884,438)     (803,777)
                    ------------  ------------  ------------  ------------
    Gross Profit         953,199       357,769     1,406,264       611,388
                    ------------  ------------  ------------  ------------

Operating Expenses:
  Sales and
   marketing               9,333        10,629        79,743        33,775
  Compensation           378,946       409,435     1,199,921       679,994
  Professional fees       37,051        53,426       117,567       162,619
  Consulting              22,600        12,700        75,930        87,700
  Other General and
   administrative        357,886       187,433       862,060       452,831
                    ------------  ------------  ------------  ------------
    Total Operating
     Expenses            805,816       673,623     2,335,221     1,416,919
                    ------------  ------------  ------------  ------------

Net Operating
 Income (Loss)           147,383      (315,854)     (928,957)     (805,531)
                    ------------  ------------  ------------  ------------

Other Income
 (Expense):
 Debt forgiveness             --        79,000            --        79,000
 Miscellaneous
  income                      --            --            --           750
   Interest expense      (84,196)      (41,464)     (148,699)      (93,689)
   Interest income           394        10,554         1,177        27,744
                    ------------  ------------  ------------  ------------
    Total Other
     Income
     (Expense)           (83,802)       48,090      (147,522)       13,805
                    ------------  ------------  ------------  ------------

Net Income (Loss)   $     63,581  $   (267,764) $ (1,076,479) $   (791,726)
                    ============  ============  ============  ============

Income (Loss) per
 Common Share       $         --  $         --  $         --  $         --
                    ============  ============  ============  ============

Weighted average
 shares outstanding  557,941,646   569,920,650   560,476,479   558,422,786
                    ============  ============  ============  ============
                    ============  ============  ============  ============



                    CHDT CORPORATION AND SUBSIDIARIES
                        CONSOLIDATED BALANCE SHEETS
                                (Continued)

                                                  (Unaudited)
                                                   September    December
                                                    30, 2008    31, 2007
                                                  -----------  -----------
Liabilities and Stockholders’ Deficit:
Current liabilities:

  Accounts payable and accrued expenses           $ 2,332,940  $   601,946
  Customer deposits                                        --           --
  Notes and loans payable to related parties -
    current maturities                                572,973      688,305
                                                  -----------  -----------

    Total current liabilities                       2,905,913    1,290,251
                                                  -----------  -----------

Non-current liabilities
  Note payable - Sterling Bank                        439,830           --
  Notes and loans payable to related parties          546,025      546,025
                                                  -----------  -----------

    Total non-current liabilities                     985,855      546,025
                                                  -----------  -----------

    Total Liabilities                               3,891,768    1,836,276
                                                  -----------  -----------

Stockholders' Deficit:
  Preferred Stock, Series A, par value $.001 per
   share
    Authorized 100,000,000 shares,
     Issued 60 at September 30, 2008 and 6,560
     shares at December 31, 2007                            1            7
  Preferred Stock, Series B, par value $.10 per
   share
    Authorized 100,000,000 shares,
     Issued 2,108,813 at September 30, 2008 and
     1,358,738 at December 31, 2007                   210,882      135,874
  Common Stock, par value $.0001 per share
    Authorized 600,000,000 shares,
     Issued 557,941,646 shares at September 30,
     2008 and 599,745,646 shares at December 31,
     2007                                              55,794       59,975
  Additional paid-in capital                        5,440,097    5,034,527
  Accumulated deficit                              (3,944,537)  (2,868,058)
                                                  -----------  -----------

    Total Stockholders' Deficit                     1,762,237    2,362,325
                                                  -----------  -----------

    Total Liabilities and Stockholders’ Deficit   $ 5,654,005  $ 4,198,601
                                                  ===========  ===========

About CHDT Corp.: CHDT Corp. is a public holding company that engages, through its wholly owned subsidiaries, in the development, manufacturing, logistics, and distribution of consumer products to retailers and wholesalers throughout North America. Reference of URL's in this press release does not incorporate said URL's or any of their contents in this press release.

FORWARD-LOOKING STATEMENTS: This press release, including the financial information that follows, contains "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995, as amended. These statements are based on the Company's and its subsidiaries' current expectations and involve risks and uncertainties, which may cause results to differ materially from those set forth in the statements. CHDT undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. Forward-looking statements in this press release and risks associated with any investment in CHDT, which is a small business concern and a "penny stock company" and, as such, a highly risky investment suitable for only those who can afford to lose such investment, should be evaluated together with the many uncertainties that affect CHDT's business, particularly those mentioned in the cautionary statements in current and future CHDT's SEC Filings.