ADM Tronics Unlimited Inc. (OTCMKTS: ADMT) fell 6% after the company announced results for fiscal Q3 2022 ending December 31, 2021. Revenue for the third quarter and nine months ending December 31, 20-21 dropped by $12,990 and increased by 64,049, respectively.
Trading Data
On Tuesday, ADMT stock fell 5.96% to $0.0868 with more than 12.5K shares traded, compared to its average volume of 16.5K shares. The stock moved within a range of $0.0868 – 0.0868 after opening trading at $0.0868.
Earnings Review
The decrease in quarterly revenue was due to sales decreasing by $20,672 in the chemical business and $69,984 in the Engineering units, which was partially offset by a $77,666 increase in the Electronics units. For the nine months, sales increased by $39,376 and $68,321 for the Engineering and Chemical Segment, respectively, offset by $43,648 drop-in Electronics unit.
President Andre’ DiMino announced that the company released its pre-production valuation units of the Vet-Sonotron non-invasiveelectrotherapy units in the third quarter. So far, the company has witnessed promising feedback from users encouraging efforts to bring the tech to commercialization.
DiMino added that the engineering and manufacturing segments experienced supply chain disruptions in Q3 leading to an increase in backlog orders. So in the coming weeks, ADMT is worth watching.
Key Quote
“As previously announced, the pre-production evaluation units of our Vet-Sonotron non-invasive, veterinary electrotherapy units were released during the third fiscal quarter,” stated Andre’ DiMino, President of ADMT. “We are receiving very positive reports from users of these units which encourages our efforts at bringing this technology to commercialization for both the equine and small animal therapy markets.”
Technical Data
ADMT stock is trading below the 20-Day and 50-Day Moving averages of $0.0910 and $0.0939 respectively. Moreover, the stock is below the 200-Day moving average of $0.1187.
