Mon, Aug 19, 6:31 PM (148 days ago)
For the quarter ending June 30, 2024, ADM Tronics Unlimited, Inc. reported a significant revenue increase to $857,845, up from $762,689 in the prior year, driven primarily by a robust 145% rise in the Electronics segment. Gross profit surged to $520,903, reflecting improved sales prices and reduced costs. Operating income turned positive at $164,281, compared to a loss of $137,796 a year prior. Net profit reached $272,168, reversing a loss of $132,261. Cash and cash equivalents decreased to $469,365 from $537,041 due to operational cash outflows of $59,146. The company remains reliant on a limited customer base, with three customers accounting for 78% of revenue. Despite challenges, management anticipates sufficient liquidity for the next twelve months, focusing on customer growth and R&D investment. The firm acknowledges internal control weaknesses but believes its financial statements present a fair view of its financial condition. Future operations may be influenced by market uncertainties and customer concentration risks.