A.D. TECH reports second quarter and six month results; Twenty-nine percent revenue increase fuels record profitability.TAUNTON, Mass.--(BUSINESS WIRE)--Aug. 6, 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 for the second quarter ended June 30, 1996 increased 29 percent to $2,634,000, compared with revenues of $2,044,000 in the previous year's second quarter. The company also reported second quarter net income of $537,000, or net income of $0.16 per share, compared with a loss of $(224,000), or a loss of $(0.07) per share, for the previous year's second quarter. For the six month period ending June 30, 1996, revenues increased 25 percent to $4,948,000, compared with revenues of $3,959,000 during the same period last year. The company also reported net income for the six months ending June 30, 1996 of $343,000, or net income of $0.10 per share, compared with a loss of $(413,000), or a loss of $(0.13) per share, for the same period a year ago. "In addition to licensing and royalty revenues, our operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. is increasing, and we are making continued progress in penetrating the new markets of retroreflective films and holographic See holographic storage. security devices," said Glenn J. Walters, president and chief executive officer of A.D. TECH. "In the area of security holographic devices, we believe the heightened concern for security in general, regardless of whether the challenge is to authenticate products at a loading dock or passengers and luggage at an airport, will continue to drive the demand for these product solutions in the future," Walters added. A.D. TECH develops and manufactures high-resolution, patterned, vacuum-metallized coatings for a variety of energy-management applications -- including electronics, microwave food packaging, authentication (1) Verifying the integrity of a transmitted message. See message integrity, e-mail authentication and MAC. (2) Verifying the identity of a user logging into a network. security holograms, retroreflective films, electronic article surveillance See EAS. tags and electrostatic discharge (hardware, testing) Electrostatic Discharge - (ESD) One kind of test that hardware usually has to pass to prove it is suitable for sale and use. The hardware must still work after is has been subjected to some level of electrostatic discharge. materials -- using the company's proprietary metallization Met`al`li`za´tion n. 1. The act or process of metallizing. process including a new Pattern Metallization Printing ("PMP See point-to-multipoint and portable media player. PMP - Portable Media Player ") process. -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 Six months ended
June 30 June 30 June 30 June 30
1996 1995 1996 1995
Revenues $ 2,634 $ 2,044 $ 4,948 $ 3,959 Net income (loss) $ 537 $ (224) $ 343 $ (413) Net income (loss) per share $ 0.16 ($0.07) $ 0.10 ($0.13) Weighted-average number of shares used in computation of per-share net income 3,311 3,122 3,280 3,122 CONTACT: A.D. TECH Inc. Glenn Walters, 508/823-0707 or Ronald Trahan Associates Inc. Ronald Trahan, 508/651-1180 |
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