ADM Tronics Unlimited Inc.
NORTHVALE, N.J., Aug. 22, 2016 /PRNewswire/ -- ADM Tronics Unlimited, Inc. (ADMT), a technology-based developer and manufacturer of innovative technologies and products, today announced results for its first fiscal quarter ended June 30, 2016 of Fiscal Year 2017.
Revenues for the three months ended June 30, 2016 were $1,377,431 as compared to $1,055,928 for the three months ended June 30, 2015, an increase of 31%. Net profit for the first quarter was $521,230 or $0.01 per share as compared to $434,228 or $0.01 per share for the same period last year, an increase of 20%. Complete financial results are available in the Company's Quarterly Report on Form 10Q available at www.sec.gov.
We are pleased that our growth continues into our new fiscal year," stated Andre' DiMino, President of ADMT. "We expect to see our medical device engineering revenues continue, and we are now devoting more of our resources and efforts towards advancing our own proprietary medical technologies."
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.
ADM Tronics Reports First Quarter of Fiscal Year 2017 Results, Revenues Increase 31%