NORTHVALE, NJ -- ADM Tronics reported revenues and profits rose in fiscal 2017 for the third consecutive year.
Sales for the year ended Mar. 31 were up 17% to $5.3 million, while net income was $1.21 million, up 8%. The company strengthened its balance sheet and eliminated all bank debt during the year.
ADMT performs contract assembly and also designs and builds products under its own brand.
ADMT CEO Andre' DiMino saud, "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. 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."