NORTHVALE, N.J., July 13, 2017 /PRNewswire/ -- ADM Tronics Unlimited, Inc. (ADMT), recently reported Fiscal Year 2017 results, marking its third consecutive year of increased revenues and profits.
The Fiscal Year-End 2017 results include a strengthened balance sheet with a strong cash position and the elimination of all bank debt. This financial progress enables the Company to initiate its planned redefinition of its business growth strategy, concentrating the scope of its activities as a medical technology innovator, specializing in the design, development and production of its own suite of proprietary therapeutic and diagnostic cutting-edge medical devices and related technologies, which are forthcoming in various stages of development.
The first technology to be introduced is the "Tinnitus Shield™", an innovative, patent-pending hearing protection device specifically for the unique needs of the tinnitus marketplace. Tinnitus is a hearing condition commonly known as "ringing in the ears." The American Tinnitus Association estimates there are up to 50 million tinnitus sufferers in the U.S. and some 250 million worldwide. Tinnitus Shield™ will be marketed by ADMT's majority-owned subsidiary, Aurex International, Inc. and is projected to be on the market within the next two months, adding additional revenues to the Company's current strong financials. Over the course of the next year, ADMT management anticipates introducing three additional medical device technologies.
ADMT CEO, Andre' DiMino commented, "ADMT will continue to generate revenues from its engineering, development and production services business as well as from its line of environmentally-safe aqueous formulations." He continued, "However, thanks to our three consecutive years of increased revenues and profits, ADM Tronics is ready to transform its business model by focusing specifically on its own proprietary, patented medical devices. The success of any one of our technologies can cause a major pivotal transformation in the future growth potential of ADM Tronics."
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, such as 3-D solid prototyping, precision instrumentation and specialized software and peripherals, for the research, development and commercialization of diversified technologies. Additional information is available at the Company's websites - admtronics.com and concepttoquantity.com.
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.