ADM Tronics Unlimited is a manufacturer and engineering concern whose principal lines of business are the production and sale of chemical products and the manufacturing and sale of medical devices. For the three months ended 6/99, revenues rose 4% to $576 thousand. Net income totaled $40 thousand vs. a loss of $87 thousand. Revenues reflect company's increased medical activities and chemical revenues. Earnings reflect increased gross profit margins.
Results of Operations Six Months Ended September 30, 1999
Revenues
Revenues were $1,370,688 in 1999 as compared to $1,001,103 in 1998 representing an increase of $369,585 or 37%. Revenues from the Company's medical elec- tronics activities increased $301,923 and chemical revenues increase $67,662.
Gross Profit
Gross profit of $743,604 in 1999 as compared to $503,686 in 1998 was $239,918, or 48% above the gross profit in 1998. Gross profit was 54% of revenues in 1999 and 50% 1998. The increase in gross profit is due to the mix in product sales with higher sales of products with a higher gross margin.
Operating Income(Loss
Operating loss was ($107,741) in 1999 compared to ($259,459) in 1998. Selling, general and administrative expenses increased by $88,200 due to an increase in payroll for sales personnel.
Other Income
Other income of $27,349 in 1999 increased $7,041 from $20,308 in 1998, primarily due to the collection of rent income from a sub-tenant offset by a decrease in interest income from reduced amounts invested.
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CONTACT: ADM Tronics Unlimited, Inc.
Andre' Di Mino, 201/767-6040
Fax: 201/784-0620
E-mail: andre@admtronics.com
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