ADM Endeavors, Inc. (OTCQB: ADMQ) Announces Fiscal Year 2021 Results

Rhea-AI Summary

ADM Endeavors, Inc. (OTCQB: ADMQ) reported significant financial growth for the fiscal year ending December 31, 2021. Revenues increased by 30% to $6.5 million, up from $5 million in 2020. The company also achieved a net income of $737 thousand, reversing a loss of $23 thousand in the previous year. CEO Marc Johnson emphasized ongoing business expansion plans, including a new 80,000-100,000 square foot headquarters and potential strategic acquisitions. The company maintains a strong balance sheet, allowing it to better serve customer needs.

Positive

• 30% revenue growth to $6.5 million in 2021
• Net income of $737 thousand, up from a $23 thousand loss in 2020
• Plans for a new 80,000-100,000 square foot headquarters
• Potential for strategic acquisitions to enhance margins and customer base

Negative

• None.

FORT WORTH, Texas--(BUSINESS WIRE)-- ADM Endeavors, Inc. (OTCQB: ADMQ) today announced financial results for the fiscal year ended December 31, 2021.

ADM Endeavors, Inc. (OTCQB: ADMQ) Announces Fiscal Year 2021 Results (Graphic: Business Wire)

Marc Johnson, Chief Executive Officer of ADM Endeavors, stated, “I want to emphasize our view of the Company’s importance to the communities where we have a presence and of our ongoing focus on keeping our employees safe while supporting customers during the pandemic. Part of our business is to supply schools and while every part of our operations is important, the entire team at ADM takes great pride ensuring students got what they need when they needed it from us during a very challenging year in schools. Throughout 2021, we expanded our business model while operating in the challenges posed by the COVID-19 pandemic and knowing we played a role in supplying schools is an honor and obligation we take very seriously.”

Key Financial Highlights:

• Revenues for the year ended December 31, 2021, increased 30% to $6.5 million, as compared to $5 million in the fiscal year for 2020.
• Net Income was $737 thousand in 2021, as compared to a loss of $23 thousand in 2020.

"We continue to see good momentum in our business as customers are looking to modernize their organizations for quickness and choices. With the diversity of our portfolio and line of products, we are well positioned to help our customers in all their needs,” continued Mr. Johnson. “As we continue our growth and expansion, we have several initiatives in place that we believe will support our long-term plans, including building a new headquarters with warehouse that will be 80,000 – 100,000 square feet. We believe strategic acquisitions can be part of our plan, including but not limited to acquiring a sign shop allowing us to bring production in house and increase margins and customer base.”

“We finished 2021 with a strong balance sheet to support our business plan moving forward and the investments we made over the last year, including having a good amount of inventory allows us to better serve our customers with product availability and quick service. We will continue to focus on our sales channels, including our commitment to meeting customers’ needs while expanding our customer base in the private and public sectors,” concluded Mr. Johnson.

About Us

ADM Endeavors, through its wholly owned subsidiary, Just Right Products, Inc., is a promotional product distributor and proud member of the Advertising Specialty Institute. The Company sells “Anything With A Logo” on its website, www.JustRightProducts.com, developing products ranging from unique business cards to coffee cups, T-shirts to boots, with tens of thousands of other unique products from which to select. Just Right Products, Inc. operates a diverse vertical integrated business in the Dallas/Fort Worth area, consisting of a retail sales division, screen print production, embroidery production, digital production, import wholesale sourcing, and uniforms.

For additional information visit www.admendeavors.com or our subsidiaries,

1. https://www.fwpromo.com/
2. https://fwcustom.com/
3. http://www.justrightproducts.com/
4. https://justrightboots.com/
5. https://247365threads.com/
6. https://fortworth.academicoutfitters.com/
7. https://uscbdlogo.com/
8. Shareholders FB page: https://www.facebook.com/groups/admqshareholders

Forward Looking Statement:

This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. Any statements that are not historical facts contained in this press release are "forward-looking statements “that involve a number of risks and uncertainties and are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Words such as “strategy,” “expects,” “continues,” “plans,” “anticipates,” “believes,” “would,” “will,” “estimates,” “intends,” “projects,” “goals,” “targets” and other words of similar meaning are intended to identify forward-looking statements but are not the exclusive means of identifying these statements. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of global economic conditions or economic conditions with respect to the retail industry, the COVID-19 pandemic, the performance of management, actions of government regulators, vendors, and suppliers, our cash flows and ability to obtain financing, competition, general economic conditions and other factors that are detailed in our filings with the Securities and Exchange Commission. We intend that all forward-looking statements be subject to the safe-harbor provisions. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220315006122/en/

Investor Relations Contact

Andrew Barwicki | 516-662-9461 | andrew@barwicki.com

Source: ADM Endeavors, Inc.

FAQ

What were ADM Endeavors' financial results for the fiscal year 2021?

In fiscal year 2021, ADM Endeavors reported revenues of $6.5 million, a 30% increase from $5 million in 2020, and a net income of $737 thousand.

Did ADM Endeavors experience any net income changes in 2021?

Yes, ADM Endeavors achieved a net income of $737 thousand in 2021, compared to a loss of $23 thousand in 2020.

What are ADM Endeavors' future plans for expansion?

ADM Endeavors plans to build a new headquarters between 80,000-100,000 square feet and is considering strategic acquisitions to enhance its operations.