ADM Tronics Reports Fiscal Year 2016, Revenues Increase 58%
PR Newswire ADM Tronics Unlimited, Inc. Jul 13, 2016 3:37 PM
NORTHVALE, N.J., July 13, 2016 /PRNewswire/ -- ADM Tronics Unlimited, Inc. (ADMT), a technology-based developer and manufacturer of innovative medical technologies and proprietary products, today announced results for its fiscal year ended March 31, 2016.
Revenues for the year ended March 31, 2016 were $4,513,070 as compared to $2,850,548 for the last fiscal year ended March 31, 2016, an increase of 58%. Net income for the year was $1,118,338 or $0.02 per share which included a benefit for income taxes deferred of $857,000 as compared to $358,790 or $0.01 per share for the previous fiscal year. Complete financial results are available in the Company's Annual Report on Form 10K available at www.sec.gov.
Financial Highlights
Fiscal Year
Ended
March 31, 2015
Fiscal Year
Ended
March 31, 2015
Net Revenues
$4,513,070
$2,850,548
Cost of Sales
$1,915,901
$1,485,590
Gross Profit
$2,597,169
$1,364,958
Operating Expenses
$2,334,186
$1,115,009
Income (loss) from operations
$262,983
$249,949
Total other income
($1,645)
$108,841
Benefit for income taxes deferred
$857,000
-
Net income (loss)
$1,118,338
$358,790
Net income (loss) per common share
$0.02
$0.01
Weighted average shares of common stock outstanding - diluted
66,821,772
65,539,537
Andre' DiMino, ADMT President stated, "Our Company has continued our growth progress from last fiscal year with positive strides forward in both our own product development and client manufacturing over the course of the last 12 months, and we are pleased with the continued improved financial performance. We expect to maintain and increase revenue growth in our medical device engineering activities."
"The initiatives we instituted this past year have been successful. And, we are further expanding our efforts for the 2016 - 2017 fiscal year. We expect to see the financial contribution from those efforts continue in future quarters. Additionally, we are pursuing certain new technology opportunities that we believe can begin to further increase our revenues during the new fiscal year. This past fiscal year 2016 was a dynamic period of growth for our company, and we are excited about our future prospects," concluded DiMino.
About ADMT
