DEERFIELD BEACH, Florida–(BUSINESS WIRE)–CHDT Corporation, a Florida corporation (OTCBB:CHDO), (“Company”), with operating subsidiaries focused on the design and manufacture of consumer lighting products for the retail markets of America North and Latin America, and Capstone Industries, a wholly owned subsidiary of CHDT Corp., confirms that the company’s replenishment activity was strong during the third quarter and the resulting backlog is currently ahead of the fourth quarter of 2010.
Although CHDT Corporation’s third quarter results will not be officially confirmed until the third quarter audit is complete, the company expects gross revenue of approximately $4,786,534 with net revenue of approximately $4,500,542. during the quarter. This brings our year-to-date gross revenue to approximately $8,492,901 and our net revenue to approximately $7,966,239. More importantly, the company expects record net profit through the third quarter to be around $400,000, compared to a net loss of $695,862 for the same period in 2010. This translates into an improvement expected over $1,000,000 from the company’s year-to-date performance. “It’s hard to explain the sense of pride our team feels as we prepare to deliver these excellent results to our shareholders,” said Gerry McClinton, Chief Financial Officer. “We have remained focused on our core lighting products and product innovations have been recognized by major retailers across the country,” he added.
“These results are really not surprising considering the excellent products provided at such affordable price points,” said Stewart Wallach, CEO of CHDT Corp. “What is surprising, however, is that the value of our shares has not yet reflected these achievements. I receive many calls every day from shareholders asking me why the stock is so undervalued. We remain obviously under the radar, but we strongly believe that continuing to post strong results will lead to increased trading volumes and share prices will more accurately reflect the company’s results,” he added.
About CHDT Corporation
Company CHDT (www.chdtcorp.com) is a public holding company engaged, through its wholly owned subsidiaries, in the development, manufacturing, logistics and distribution of consumer products to retailers and distributors in North America and in Latin America. To see www.chdtcorp.com
for more information about the Company and www.capstoneindustries.com
for more information on our current product offerings. Reference to URLs in this press release does not incorporate such URLs or any of their contents in this press release.
FORWARD-LOOKING STATEMENTS: This press release, including the financial summary above, contains “forward-looking statements” as that term is defined in the Private Securities Litigation Reform Act of 1995, as amended. Such statements consist of words like “anticipate”, “expect”, “plan”, “continue” and similar words. These statements are based on the current expectations of the Company and its subsidiaries and involve risks and uncertainties, which could cause actual results to differ materially from those set forth in the forward-looking 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 contained in this press release and risks associated with investing in CHDT, which is a small business and penny stock company and as such a high risk investment suitable only for those who can afford to lose such an investment, must be weighed against the many uncertainties that affect CHDT’s business, particularly those discussed in the cautionary statements in CHDT’s current and future SEC filings.
