2020 Q4 Update
An Update from the Former President and CEO of Angstrom Technologies
October 31st, 2020
Welcome to our Fourth Quarter Update of 2020. 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
Revenue
Results for 4th Quarter 2020 were lower compared to the 4th Quarter of 2019. Business continued to decline domestically but slightly increased overseas. The COVID 19 Pandemic continues to affect our customers. Delayed orders continue as businesses struggle to get to normal operating levels. We hope that our First Quarter will put COVID 19 behind all of us.
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.
Company News
Angstrom has exciting news, Effective November 1st 2020, Joe Hettinger will be the President & CEO of Angstrom Technologies. Mr. Hettinger has served on Angstrom’s Board as a Director since November 2006. Mr. Hettinger cowrote two business plans for Angstrom that moved us out of our warehouse and into our first manufacturing facility. He has been part of the effort for Angstrom to expand its business in Europe and Asia. Mr. Hettinger has a solid business background and he knows Angstrom’s products and services. Mr. Hettinger will be issuing his own Shareholder update or another announcement format in the future and will comment more about himself and the future plans for Angstrom.
After nearly 20 years with Angstrom and running it as the President & CEO for 17 years, I decided to retire. Angstrom has come a long way – but we need to go further. We have outstanding employees who have made our company grow and succeed with their never-ending desire to do what is best for Angstrom. I will continue to be part of Angstrom as a Board member effective November 1st 2020.
Sincerely,
Tony Petrucci
President & CEO
Angstrom Technologies
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