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ADM Tronics (ADMT) Reports Second Quarter of Fiscal Year 2017 Results



11/18/2016 7:45:02 AM

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NORTHVALE, N.J., Nov. 17, 2016 /PRNewswire/ -- ADM Tronics Unlimited, Inc. (OTCQB: ADMT), a technology-based developer and manufacturer of innovative technologies and products, today announced results for its second fiscal quarter ended September 30, 2016 of Fiscal Year 2017.

Revenues for the six months ended September 30, 2016 were $2,757,769 as compared to $2,308,809 for the three months ended September 30, 2015, an increase of 16%.  Income from operations for the second quarter was $949,507 as compared to $685,328 for the same period last year, an increase of 39%

Revenues for the three months ended September 30, 2016 were $1,380,338 as compared to $1,252,881 for the three months ended September 30, 2015, an increase of 10%.  Income from operations for the second quarter was $428,463 as compared to $250,487 for the same period last year, an increase of 71%.

"Our new plan of action which we have implemented over the past two years continues to produce growth in revenues and income," stated Andre' DiMino, President of ADMT.  "As a result of that plan, our balance sheet has improved significantly. With the additional cash reserves we have generated from our operations, we are now allocating more of our resources and efforts towards advancing our own proprietary medical technologies. Accordingly, as previously announced, we are in the process of completely redesigning our website to better reflect the full scope of our company today."

Complete financial results are available in the Company's Quarterly Report on Form 10Q available at www.sec.gov.

Financial Highlights


Three Months Ended


Six Months Ended

September 30,


September 30,


2016

2015


2016

2015

Net Revenues

$1,380,338

$1,252,881


$2,757,769

$2,308,809







Cost of Sales

$636,231

$495,680


$1,096,158

$796,553







Gross Profit

$744,107

$757,201


$1,661,611

$1,512,256







Operating Expenses

$315,644

$506,714


$712,104

$826,928

Income from operations

$428,463

$250,487


$949,507

$685,328

Total other income (expense)

$431

($582)


$617

($902)







Income before stock based compensation and benefit for income taxes

$428,894

$249,905


$950,124

$684,426

Stock based compensation

-

($598,699)


-

($598,699)







Benefit for income taxes - deferred

-

$857,000


-

$857,000







Net income

$428,894

$508,503


$950,124

$942,727

Net income (loss) per common share

$0.01

$0.01


$0.01

$0.01

Weighted average shares of common stock outstanding - diluted

67,008,502

66,994,600


67,008,502

66,379,539

About ADMT

ADMT is a diversified, technology-based developer and manufacturer of innovative technologies and products.  Its core competency is its ability to conceptualize a technology, bring it through development, into manufacturing and commercialization, all in-house.  ADMT has three areas of activity: Proprietary Electronic Medical Devices; Eco-Friendly, Safe, Water-Based Formulations; and, Design, Engineering, Regulatory and Manufacturing Services.  The Company's headquarters, laboratories, FDA-Registered medical device and manufacturing operations are located in Northvale, NJ.  ADMT's multi-disciplinary team of engineers, researchers and technologists utilize advanced technology infrastructure, such as 3-D solid prototyping, precision instrumentation and specialized software and peripherals, for the research, development and commercialization of diversified technologies. Additional information is available at the Company's websites - admtronics.com and concepttoquantity.com.

Except for historical information contained herein, the matters set forth in this news release are "forward looking" statements (as defined in the Private Securities Litigation Reform Act of 1995), including statements regarding future revenue growth and performance.  Although ADMT believes the expectations reflected in such forward looking statements are based upon reasonable assumptions, there can be no assurance that its expectations will be realized. Forward looking statements involve risks and uncertainties that could cause actual results to differ materially from expectations.  Factors that could contribute to such differences include those described from time to time in ADMT's filings with the SEC, news releases and other communications. The Company assumes no obligation to update the information contained in this news release.

 

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/adm-tronics-reports-second-quarter-of-fiscal-year-2017-results-300365405.html

SOURCE ADM Tronics Unlimited, Inc.


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