NORTHVALE, N.J., Feb. 17, 2016 /PRNewswire/ -- ADM Tronics Unlimited, Inc. (OTCQB: ADMT), a technology-based developer and manufacturer of innovative technologies and medical devices, today announced results for its third quarter ended December 31, 2015 of Fiscal Year 2016.
Revenues for the three months ended December 31, 2015 were $1,045,388 as compared to $677,683 for the three months ended December 31, 2014, an increase of 64%. Net income was $237,075 or $0.00 per share as compared to $114,653 or $0.00 per share for the same period last year.
Revenues for the nine months ended December 31, 2015 were $3,354,197 as compared to $2,049,950 for the nine months ended December 31, 2014, an increase of 64%. Net income increased to $1,179,802 or $0.02 per share as compared to $279,851 or $0.00 per share for the same period last year.
“Our medical device engineering segment is expected to continue to fuel the revenue success that we have experienced in our ongoing quarter over quarter financial growth,” said Andre’ DiMino, President of ADMT. “We foresee the development of proprietary medical device projects going forward contributing to the maturation of our business and technology planning and solidifying revenues and profit, with positive cash flow from operations,” he added.
Complete financial results are available in the Company’s Quarterly Report on Form 10Q available at www.sec.gov.
FINANCIAL HIGHLIGHTS | |||||||||||||||
Three months ended December 31, | Nine months ended December 31, | ||||||||||||||
2015 | 2014 | 2015 | 2014 | ||||||||||||
Net revenues | $ | 1,045,388 | $ | 677,683 | $ | 3,354,197 | $ | 2,049,950 | |||||||
Cost of sales | 375,745 | 307,214 | 1,172,298 | 909,299 | |||||||||||
Gross Profit | 669,643 | 370,469 | 2,181,899 | 1,140,651 | |||||||||||
Operating expenses: | |||||||||||||||
Research and development | 46,292 | 59,400 | 101,503 | 89,686 | |||||||||||
Selling, general and administrative | 385,226 | 195,796 | 1,155,637 | 768,119 | |||||||||||
