NORTHVALE, NJ – ADM Tronics reported fiscal 2020 revenues were $3.5 million, up 15.5% year-over-year.

For the fiscal year ended Mar. 31, operating expenses decreased 19.9% to $1.6 million. R&D expenses were $589,373, compared to $673,855 for fiscal 2019.

ADMT's fiscal fourth quarter was impacted by the weakened business environment from the Covid-19 crisis. At the outset, ADMT took aggressive steps to minimize disruption of its operations by working with the NJ Manufacturing Extension Program in a successful effort to secure exemption from the statewide shutdown by being designated an essential manufacturer. This permitted ADMT to maintain research and manufacturing operations, with safety procedures following CDC guidelines, while clerical activities were established remotely.

Although ADMT remained operational, there was significant slowdown in economic activity from Covid-19, resulting in certain ADMT customers and industries reducing or ceasing activity.

"Although customers and various industries we serve were impacted by the crisis, we are encouraged by the results we achieved in a number of areas," said Andre' DiMino, president of ADMT. "We realize it is not possible to know the overall impact of the pandemic, but we are hopeful the significant progress we made prior to the shutdown on several customer projects, as well as our own proprietary medical device developments, will bring us multiple avenues for growth, as we all diligently work to emerge from this unprecedented crisis. I am grateful for the loyalty of our customers and the dedication of our family of employees during this difficult time, and we look forward to a prosperous future."

Register now for PCB West Virtual 2020, the leading conference and exhibition for the printed circuit board industry, coming this September. pcbwest.com  

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