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Chad Therapeutics Reports 21 Percent Increase in Third Quarter Earnings

For its third quarter ending Dec. 31, 2004 Chatsworth-based CHAD Therapeutics reported net earnings of $505,000 or $0.05 per diluted share on revenues of $6.4 million. Net earnings increased 21 percent over last year, and revenues increased 23 percent over last year, marking an eight year high. Earl. L. Yager, president and chief executive officer, lowered the company’s growth projections for fiscal year 2005 which ends on March 31; he said he still expects net earnings between $1.8 and $2 million for the year, an increase of at least 80 percent over fiscal 2004. “While we have scaled back our growth projection for fiscal 2005 to reflect currently anticipated product delivery schedules, we continue to expect significant top and bottom-line growth in fiscal 2005 and again in fiscal 2006 based on the success of our new SAGE Therapeutic Device and the improved outlook for our TOTAL O(2) Delivery System,” Yager said.

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