An Update from the President and CEO of Angstrom Technologies
November 20th, 2019
Welcome to our Fourth Quarter Update of 2019. We will continue to post an Angstrom News Update at the end of each quarter during every fiscal year. Our fiscal year is November 1st through October 31st.
In the first update of 2004, we affirmed Angstrom’s three core beliefs. They are:
- Responsiveness- to internal and external customers
- Respect for the Individual- internal and external
- Return to Shareholders
Company News
Angstrom purchased its own facility in 2009 and completed construction upgrades to the facility. We continue upgrading equipment as needed, dependent on process efficiency and product quality.
We have updated our website at www.angtech.com. The new website is easier to use, works on multiple platforms/devices and provides a better experience when reviewing our products and services.
To find our Shareholder letter on the new website: On the navigation bar, click or hover the cursor on “About” and then click on “News and Upcoming Events” on the menu that appears. On the “News and Upcoming Events” page, the Shareholder Update will appear after the “Upcoming Events” section.
Revenue
Results for our 4th Quarter 2019 were less compared to the 4th Quarter of 2018. Business was down domestically and overseas for this Quarter compared to the 4th Quarter of 2018. During the last two quarters of 2019, our industry witnessed a slight drop in normal revenue levels worldwide. We observed a contraction in the 4th Quarter rather than an increase as expected. We believe 1st Quarter of 2020 will track higher compared to 2019 and we expect normal revenue levels to return.
We continue to work towards securing new government and commercial business to expand and maintain our markets.
Product News
Angstrom continues to develop new UV chemical technologies for specialized high security applications. Our partner/customer has continued to request that the announcement of this technology product be delayed to the public until significant market penetration is developed to secure current and future opportunities.
We will post our next news update on our website in early to mid-February and it will provide our 1st Quarter results for 2020.
Sincerely,
Tony Petrucci
President & CEO
Angstrom Technologies