NORTHVALE, N.J., Feb. 23, 2017 /PRNewswire/ -- ADM Tronics Unlimited, Inc. (ADMT) announced today that this past Tuesday February 21, 2017 the Company released results for its third quarter ended December 31, 2016 of fiscal year 2017. What immediately followed was a significant increase in the trading volume of ADMT common stock, with over 950,000 shares traded, plus an influx of calls and emails inquiring about the Company from individual investors, investment professionals and the media. People reported they were concerned that after recording 13 consecutive quarters of increased profits, could the loss in the three months ended December 31, 2016 mark a decline in the growth of the company. Andre' DiMino, ADMT CEO responded, "The situation is just the opposite when you consider that we have booked 14 consecutive quarters of increased revenues."
He continued, "In order to meet the demand for our products, which are scheduled for delivery in this current quarter, we made a significant investment into acquiring and installing automated state-of -the-art computer controlled equipment, which significantly expands our internal production capabilities. We also invested in expanding our engineering division. Putting these extraordinary expenses behind us bodes well for the fourth quarter of this fiscal year as we now have returned to running at our typical operating expenses. With our FDA-registered medical device facility having greatly increased production and engineering capabilities, plus a substantial amount of cash in reserve, the return on the investment in the company's infrastructure should reap dividends for years to come, and also allow ADMT to put more focus on rolling out several of its own proprietary medical device technologies."
Mr. DiMino went on to say, "I am pleased that our Company is now seeing more interest in our current progress and our future potential. However, in light of the number of inquiries about the Company this week, management has determined that it would be impractical to create an internal investor relations unit. In consideration of the time, costs and effort involved in building an internal unit, the Company has instead elected to outsource these activities to an experienced and established investor relations firm that has the infrastructure and network already in place to service the Company's needs. Taking this approach will afford ADMT the ability to move more rapidly to commence an investor awareness campaign."
Mr. DiMino concluded, "This approach to our investor relations effort will be more cost effective and allow us to move expeditiously in presenting our story to the world. We are making considerable strides in our organic growth and proprietary technologies, it has become important to fast-track an investor relations campaign to keep pace with our fast developing fundamentals."
ADMT is currently in the process of interviewing several investor relations firms and expects to make a decision in the near term.
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 Business Segments: Proprietary Electronic Medical Devices; Design, Engineering, Regulatory and Manufacturing Services; and, Eco-Friendly, Safe, Water-Based Formulations. The Company's headquarters, laboratories, medical device and manufacturing operations are located in Northvale, New Jersey. 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.
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). 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.
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