ADM Endeavors Reports Second Quarter Fiscal 2024 Financial Results

Q2 Revenues Increased 18% Year over Year

FORT WORTH, TX, Aug. 15, 2024 (GLOBE NEWSWIRE) -- Just Right Products Inc., the wholly owned subsidiary of ADM Endeavors (“ADM” or the “Company”) (OTCQB: ADMQ), announces its financial results for the three- and 6-months ended June 30, 2024. Unless otherwise stated, all dollar amounts are U.S. dollars.

Financial Highlights

Operating Results for the 3-Months Ended June 30, 2024:

• Revenue was $1,222,600, a 5% decrease over $1,291,250 reported in Q2 2023 but a 16% improvement over the prior quarter’s $1,056,138.
• Gross margin of 35% fell from 38% in Q2 2023 but increased from the prior quarter’s 32%.
• Operating income of $1,564 was $85,689 less than the $87,253 operating income in Q2 2023 but increased $74,227 over the prior quarter’s $59,163 operating loss.
• Net income of $201 decreased $117,347 versus $117,548 in Q2 2023 but increased $64,337 over Q1 2024’s net loss of $64,136.
• At June 30, 2024, the Company had cash of $124,192, access to a $3,000,000 line of credit, and accounts receivable of $431,252.

Operating Results for the 6-Months Ended June 30, 2024:

• Revenue of $2,278,738 increased 18% over the $1,931,694 reported for the comparable year-ago period.
• Gross margin of 33% improved from 32% during the first 6-months of 2023.
• Operating loss of $44,099 improved $22,961 over the $67,060 operating loss during the first 6-months of 2023.
• Net loss of $63,935 versus net income of $6,951 during the comparable year-ago period.

Management Commentary

“The second quarter showed continued strength over our first quarter results, as we continue to build upon our strategic government sector pivot,” said ADM Endeavors CEO Marc Johnson. "We added several new customers in the quarter as well as a number of contract renewals, giving us confidence that sales momentum should continue as we head into the strongest part of the year for our business. Construction of our new facility is on track and scheduled to open towards the end of this year, adding up to five times our current production capacity.”

About ADM Endeavors

ADM Endeavors is a diversified, direct marketing and value-added manufacturing company providing customers with customized promotional products and wearables. Since 2010, our wholly owned subsidiary, Just Right Products, Inc., has been consistently increasing our recession resistant customer base, with sales topping $5.6 million for the last reported 12 months. 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 more information, please visit: