NORTHVALE, NJ / ACCESSWIRE / November 14, 2024 / ADM Tronics Unlimited, Inc. (OTCQB:ADMT), a technology-based developer and manufacturer of innovative technologies and products, announces results for its second fiscal quarter ended September 30, 2024 of Fiscal Year 2025.
The upward trend in revenues, as reported in the Company's last quarterly report, continues for this second fiscal quarter of fiscal year ended March 31, 2025 with an increase in revenues of 12% for the six months ended September 30, 2024 and 11% for the three months ended June 30, 2024 as compared to the same periods last fiscal year. Research and development activity and expense are continuing on the Company's proprietary non-invasive musculoskeletal pain therapy medical device. The Company intends to submit a 510(k) Pre-Market Notification to the FDA for clearance to market when engineering development is completed.
Revenues for the six months ended September 30, 2024 were $1,697,881 as compared to $1,516,821 for the six months ended September 30, 2023, an increase of 12%. The increase was due to increased revenues in the Company's electronics and engineering segments. Income from operations for the six months ended September 30, 2024 was $118,423 as compared to loss of $365,446 for the same period last year.
Revenues for the three months ended September 30, 2024 were $840,036 as compared to $754,132 for the three months ended September 30, 2023, an increase of 11%. The increase in revenues was due to increased revenues in the Company's engineering and chemical segment offset by reduced revenues in the electronics segment. Loss from operations for the three months ended September 30, 2024 was $45,858 as compared to loss of $228,105 for the same period last year.
Complete financial results are available in the Company's Quarterly Report on Form 10Q for September 30, 2024, available at www.sec.gov.
Financial Highlights
| Three Months Ended |
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| Six Months Ended |
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| 2024 |
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| 2023 |
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| 2024 |
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| 2023 |
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Net revenues |
| $ | 840,036 |
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| $ | 754,132 |
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| $ | 1,697,881 |
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| $ | 1,516,821 |
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Cost of sales |
| $ | 421,254 |
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| $ | 547,980 |
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| $ | 758,196 |
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| $ | 985,527 |
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Gross Profit |
| $ | 418,782 |
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| $ | 206,152 |
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| $ | 939,685 |
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| $ | 531,294 |
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Total Operating expenses |
| $ | 464,640 |
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| $ | 433,802 |
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| $ | 821,262 |
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| $ | 896,740 |
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Income (loss) from operations |
| $ | (45,858 | ) |
| $ | (227,650 | ) |
| $ | 118,423 |
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| $ | (365,446 | ) |
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Total other income (expense) |
| $ | (6,329 | ) |
| $ | (455 | ) |
| $ | 102,058 |
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| $ | 5,080 |
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Net income (loss) |
| $ | (52,687 | ) |
| $ | (228,105 | ) |
| $ | 219,481 |
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| $ | (360,366 | ) |
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Basic and diluted per common share |
| $ | (0.00 | ) |
| $ | (0.00 | ) |
| $ | 0.00 |
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| $ | (0.01 | ) |
Weighted average shares of common stock outstanding - basic and diluted |
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| 67,588,492 |
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| 67,588,492 |
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| 67,588,492 |
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| 67,588,492 |
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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, for the research, development and commercialization of diversified technologies. Additional information is available at admtronics.com
Sign up for ADMT Investor News Updates emails by filling in the form at the bottom of the page at this link: https://admtronics.com/investor-relations/
ADMT welcomes inquiries for its electronics and medical device contract engineering and manufacturing services at www.admteng.com.
Investor Relations:
Howard Isaacs 562-987-4939 [email protected]
Richard Cavalli 303-956-1777 [email protected]
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.
SOURCE: ADM Tronics Unlimited Inc.