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ADM
Tronics
Reports
Financial
Results for
Second
Quarter
of Fiscal Year 2019
Northvale,
NJ -- November 19, 2018 -- InvestorsHub NewsWire
-- 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,
2018 of Fiscal Year
2019.
As previously
announced, ADMT
has
been
redirecting
more
of its engineering
resources towards
advancement of
its suite of proprietary
medical technologies. This includes Alvio,
respiratory training and therapeutic device for asthma, COPD and
other respiratory sufferers,
which is
in final stages of development; Aurex-3,
non-invasive
therapeutic
technology for the treatment and control of tinnitus; and,
Sonotron,
non-invasive treatment modality for pain. As
ADMT
advances
these
technologies through
stages of
development, revenues
were
reduced
from
customers
of engineering services
and medical device manufacturing, while
posting
a profit
for the quarter.
Revenues
for the six months ended
September 30,
2018 were
$1,611,663
as
compared to
$2,077,494
for
the six
months
ended September 30,
2017, a
decrease of
22%.
Income
from
operations for
the
second quarter was
$103,551
as
compared to $80,576
for the
same period last
year,
an
increase of
29%
%.13crease of
n
in, a
last
yearfor the same
period 76,835$as
compared to 86,455
the
second quarter was $forfrom
operations Income.%8
a
decrease of ,701, 2
30
three
months ended September for
the931,139o
$ as compared
t854,696were
$ 8, 201
30three months ended
Septembernues for the
Reve
Complete financial
results are available in the Company's Quarterly
Report on Form 10Q available at
sec.gov.
Financial
Highlights
|
|
Three
Months Ended
|
|
Six
Months Ended
|
|
September
30,
|
|
September
30,
|
|
|
2018
|
2017
|
|
2018
|
2017
|
|
Net
Revenues
|
$854,696
|
$931,139
|
|
$1,611,663
|
$2,077,494
|
|
|
|
|
|
|
|
|
Cost of
Sales
|
$332,617
|
$351,894
|
|
$637,038
|
$972,689
|
|
|
|
|
|
|
|
|
Gross
Profit
|
$522,079
|
$579,245
|
|
$974,625
|
$1,104,805
|
|
|
|
|
|
|
|
|
Operating
Expenses
|
$435,624
|
$502,410
|
|
$871,074
|
$1,024,229
|
|
|
|
|
|
|
|
|
Income from
operations
|
$86,455
|
$76,835
|
|
$103,551
|
$80,576
|
|
|
|
|
|
|
|
|
Total other
income
|
$5,952
|
$4,201
|
|
$11,473
|
$5,093
|
|
|
|
|
|
|
|
|
Income before
provision for
(benefit
from) income
taxes
|
$92,407
|
$81,036
|
|
$115,024
|
$85,669
|
|
|
|
|
|
|
|
|
Total
provision for
(benefit
from) income
taxes
|
($26,000)
|
$81,000
|
|
($26,000)
|
$158,000
|
|
|
|
|
|
|
|
|
Net income
(loss)
|
$118,407
|
$36
|
|
$141,024
|
($72,331)
|
|
|
|
|
|
|
|
|
Basic and diluted
earnings per common share
|
$0.00
|
$0.00
|
|
$0.00
|
$0.0
|
|
Weighted average
shares of common stock outstanding - diluted
|
67,588,492
|
67,588,492
|
|
67,588,492
|
67,588,492
|
| |
|
|
|
|
|
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.