from the 'microcap kitchen' thread
Symbol: ADMG (OTC BB)
Price: .44/.56
Shares: 8.67m, flt 4.9m
Book Value: .47 (mrq)
52w h/l: 1.87/.40
ADMG was recently relegated to the OTC BB due to the share price dropping below 1.00. THAT has happened to a lot of stocks this past 9 months. However, ADMG has remained profitable and increased revenue over the past 12 months as indicated in the year end release below. Company states they expect to post double digit growth and at this price, with the company posting over $40m in revenue, that’s saying something. Recent entry into new product areas coupled with a sharp eye on costs should keep the bottom line performing in the black. My opinion only. As Coz has indicated in the guidelines for this thread you need to do your own due diligence and make your own decisions.
Advanced Materials Group Reports Fourth Quarter Results
ADMG Posts After Tax Earnings of $.02 Per Share
RANCHO DOMINGUEZ, Calif.--(BUSINESS WIRE)--Dec. 20, 2000--Advanced Materials Group Inc. (OTCBB:ADMG - news) today reported sales and income from operations for the fourth fiscal quarter ended November 30, 2000.
Net sales for the fourth quarter of fiscal 2000 were $11.2 million versus $10.6 million for the comparable period of fiscal 1999. Net earnings for the fourth quarter of fiscal 2000 were $178,000 compared to $343,000 for the fourth quarter of fiscal 1999. On a comparable pretax basis the earnings for the fourth quarter fiscal 2000 were $246,000. Basic earnings per share after tax for the fourth quarter were $0.02 per share on an average of 8.8 million shares versus $0.04 per share on an average of 8.5 million shares in the year ago period.
Net sales for the full 12 months of fiscal 2000 were $41.4 million versus $34.8 million for the comparable period of 1999. Net earnings for the 12 months of fiscal 2000 were $954,500 versus a net loss of $874,000 for the 12 months of fiscal 1999. Basic earnings per share for fiscal 2000 were 11 cents per share on an average of 8.6 million shares versus a loss of 10 cents per share on an average of 8.6 million shares in fiscal 1999.
Chief Executive Officer Comments on Results
Commenting on the results, Advanced Materials Group CEO and President Steve Scott said, ``We continue to demonstrate profitable growth. The fourth quarter earnings of $178,000 were net of a $126,000 foreign exchange loss and a $68,000 income tax reserve. As the Euro stabilizes, these currency swings will moderate, and being back to a taxable position reflects the progress we have made over the last five quarters.
``We announced on December 14, 2000 that Nasdaq has moved to delist the Company's common stock from the Nasdaq SmallCap market. The stock is now trading as ADMG on the NASD regulated OTC Bulletin Board. We are disappointed that we have been delisted due to our stock trading under $1. Our proposed remedy of a reverse split put us at conflict with a listing requirement for roundlot shareholders. Since Nasdaq was not willing to waive the roundlot requirement, we have chosen not to go forward with the reverse split. We continue to be committed to demonstrate our value through our performance.
``Looking ahead, we expect to maintain our double digit revenue growth in fiscal 2001. We will remain focused on the growing inkjet cartridge and cellular phone markets supplementing with continued penetration in the automotive and trucking sectors. We continue to stay committed to companywide cost containment so that these incremental sales increases will flow well to the bottomline.''
Some statements contained in this press release are forward-looking statements that involve a number of risks and uncertainties. In addition to the factors discussed, the following are among other factors that could cause actual results to differ materially: general business conditions, competitive factors, concentration of sales in markets and customers, concentration of raw materials suppliers, delays or cancellations in orders, fluctuations in margins, timing of significant orders, and other risks and uncertainties outlined by management in the Company's most recent Form 10-K.
Advanced Materials Group, Inc. is a leading manufacturer and fabricator of specialty foams, foils, films and pressure-sensitive adhesive components for a broad base of customers in the computer, medical, automotive and aerospace industries both in the U.S. and abroad. |
