CHDT Corp. operates through its subsidiaries to design and manufacture consumer products to retailers and wholesalers throughout North America and Latin America. The company continues to increase its distribution through retaining new retailers and developing new products, which has resulted in a record 2010 year-end order backlog of $2.6 million for shipment in the first quarter.
The first quarter of the year is generally the slowest quarter for the company. Last year CHDT lost $508,000 on sales of $353,000 for the first quarter.
In 2010, CHDT subsidiary Capstone Industries Inc. switched gears, shedding its under-performing product lines to focus on its core lighting business, which achieves solid growth and performance. The subsequent $2.6 million order backlog for the first quarter of 2011 positions the company to achieve a turnaround in income and revenue for the quarter, as well as for growth in the second and third quarters.
“I’m pleased to see the transition of CHDT over the past two years. We have discontinued non-performing product lines, focusing on our core lighting business, which has shown both the ability to increase market share while maintaining good margins. Overall, this will lead to a much better performance for the company in 2011. I expect to give further first quarter and year-end guidance in the near future,” Stewart Wallach, CEO of CHDT stated in the press release.
Last March CHDT received awards at the International Home and Housewares Show for several of its new lighting devices, another symbol of the company’s improved position in the market. The company said the lighting devices have been ordered and are available through its retailers and hinted at its ability to generate revenue in the future.
For more information visit www.chdtcorp.com