ADM Tronics Reports Fiscal Year 2021 : vimarsana.com

ADM Tronics Reports Fiscal Year 2021


ADM Tronics Reports Fiscal Year 2021
ACCESSWIRE
NORTHVALE, NJ / ACCESSWIRE / July 14, 2021 / ADM Tronics Unlimited, Inc. (OTCQB:
ADMT), a technology-based developer and manufacturer of innovative technologies, products and proprietary medical devices, today announced results for fiscal year ended March 31, 2021.
ADMT's fiscal year ended March 31, 2021 was fully encompassed by the COVID pandemic effects on many industries. ADMT took aggressive steps to minimize disruption of its operations by securing exemption from shutdown as an Essential Manufacturer while instituting broad safety procedures and securing Infectious Disease Prevention Certification. This permitted ADMT to maintain research, development and manufacturing operations throughout the fiscal year.
Since March of 2020, the significant worldwide reduction in economic activity impacted ADMT's customers in its three business segments. This resulted in reduced sales and, in some cases, cessation of orders for products manufactured by ADMT during the fiscal year. In addition, a worldwide shortage of certain electronic components used in products manufactured by ADMT resulted in reduced production levels for ADMT's electronics manufacturing segment. And, a number of suppliers reduced manufacturing activities causing a shortage or backlog and increased costs of other raw materials used by ADMT.

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