A.D. TECH reports first quarter results; Revenues rise 21 percent; Earnings at $0.06 per share.TAUNTON, Mass.--(BUSINESS WIRE)--May 20, 1996--A.D. TECH Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ADTC ADTC Armament Development Test Center ADTC Advanced Data Tools Corporation ADTC Apparel Training and Design Centre (India) ADTC Advance Data Transfer Cartridge ADTC Advanced Data Transfer Cartridge ) today reported that revenues increased 21 percent for the first quarter ended March 31, 1996, to $2,314,000, compared with revenues of $1,915,000 in the previous year's first quarter. The company also reported first-quarter net income of $206,000, or $0.06 per share, compared with a net loss of $(189,000), or a loss of $(0.6) per share, for the previous year's first quarter. Of note: -- Over the past nine months, A.D. TECH has filed for a number of patents in the area of security holographic See holographic storage. systems and solutions, including devices for electronic recognition, visual recognition, data encryption and a new products for the middle-tier security hologram See holographic storage. market. These security solutions have a broad range of applications to help deter worldwide product counterfeiting in markets such as bank notes, CD music disks, pharmaceuticals, software, hardware and consumer brand products. -- Industry experts estimate that a conversion of only 50 percent of three market segments -- bank notes, checks and CD music disks -- to utilize security hologram solutions is a billion-dollar annual market opportunity. -- In Q1, A.D. TECH announced that its patented microwave fuse susceptor sus·cep·tor n. A metallic patch attached to microwaveable packages of food in which radiant energy produced in the patch by microwaves helps cook the food, often by browning its surface. packaging material, which simultaneously improves browning and crisping of many microwaveable and previously non-microwaveable food products, is being used in ConAgra (NYSE NYSE See: New York Stock Exchange :CAG CAG 1 Chronic atrophic gastritis 2 Coronary angiography, see there ) Inc.'s Healthy Choice French bread pizza product. -- In Q1, A.D. TECH signed a "Supplier agreement" with Reflexite Corp., a manufacturer of retroreflective materials used for highway signs and barricades; a wide range of apparel, such as sportswear, ready-to-wear and children's wear; and commercial trucking vehicles, such as tractor trailers. A.D TECH's proprietary and patented PMP See point-to-multipoint and portable media player. PMP - Portable Media Player process significantly improves the brightness and whiteness of retroreflective materials. According to recent articles in the New York Times and Fortune Magazine, worldwide demand for retroreflective materials runs into the billions. -- In Q1, analyst Arthur G. Jenkins of Schneider Securities recommended purchase of A.D. TECH's stock. -- In Q1, analysts Sanjoy Bhattacharya of Donald & Co. Securities issued a "strong buy" rating on A.D. TECH. A.D. TECH is a technology leader in developing/manufacturing high-resolution, patterned, vacuum-metallized coatings for a variety of energy-management applications -- including microwave food packaging, authentification holograms, electronic article surveillance See EAS. tags, electrostatic discharge materials, microwave sterilization devices, retroreflective films and solar protective films -- using the company's proprietary metallization Met`al`li`za´tion n. 1. The act or process of metallizing. process, Pattern Metallization Printing ("PMP"). -0- The condensed consolidated statement of income for the company follows:
A.D. TECH Inc.
(Amounts in thousands, except per-share data)
Three Months Ended
March 31, March 31,
1996 1995
Revenues $2,314 $1,915 Net income (loss) $206 $(189) Net income (loss) per share $0.06 $(0.06) Weighted average number of shares used in computation of per-share net income 3,278 3,122 -0- CONTACT: A.D. TECH Inc. Glenn Walters, 508/823-0707 or Ronald Trahan Associates, Inc. Ronald Trahan, 508/651-1180 |
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