NORTHVALE, N.J., June 29, 2017 /PRNewswire/ -- ADM Tronics Unlimited, Inc. (OTCQB: ADMT), a technology-based developer and manufacturer of innovative medical technologies and proprietary products, today announced results for its fiscal year ended March 31, 2017.
Revenues for the year ended March 31, 2017 were $5,271,231 as compared to $4,513,070 for the last fiscal year ended March 31, 2016, an increase of 17%. Net income for the year was $1,205,760 or $0.02 per share as compared to $1,118,338 or $$0.02 per share, an increase of 8%. Complete financial results are available in the Company’s Annual Report on Form 10K available at www.sec.gov.
Financial Highlights | |||
Fiscal Year | Fiscal Year | ||
Net revenues | $5,271,231 | $4,513,070 | |
Cost of revenues | $2,611,493 | $2,104,254 | |
Gross Profit | $2,659,738 | $2,408,816 | |
Operating expenses | $1,521,177 | $2,145,833 | |
Income from operations | $1,138,561 | $262,983 | |
Total other income | ($1,801) | ($1,645) | |
Benefit from income taxes deferred | $69,000 | $857.000 | |
Net income | $1,205,760 | $1,118,338 | |
Net income (loss) per common share | $0.02 | $0.02 | |
Weighted average shares of common stock outstanding - diluted | 67,145,150 | 66,284,930 | |
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; Design, Engineering, Regulatory and Manufacturing Services and Eco-Friendly, Safe, Water-Based Formulations. 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.
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SOURCE ADM Tronics Unlimited, Inc.
