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Message #15
From: NewsBot
Date: March 29, 2007 06:30:00 AM

ELST News Electronic Systems Technology Inc. Announces 2006 Financial Results and 5th Record Sales Year

KENNEWICK, Wash.--(BUSINESS WIRE)--Electronic Systems Technology Inc. (EST) (OTCBB:ELST), manufacturer of ESTeem wireless modems, today announced sales and results of operations for the twelve-month period ended December 31, 2006.

EST reported sales for 2006 of $2,617,810, compared to $2,417,700 for 2005, reflecting an 8% increase from 2005. The results represent the fifth consecutive record sales year for the Company. Net Income for 2006 was $226,089, or $0.04 per share, compared with a Net Income of $113,063, or $0.02 per share, for 2005.

Selected Statement of Operations Information Summary
Twelve Months Ended
December 31

2006

December 31

2005

Sales $ 2,617,810  $ 2,417,700 
Net income (loss) before tax 343,014  174,757 
Net Income (loss) 226,089  113,063 

Weighted average common shares outstanding

5,165,346 

5,223,804 

Basic Earnings (loss) per Share

$

0.04 

$

0.02 

Diluted Earnings (loss) per Share

$

0.04 

$

0.02 

Selected Balance Sheet Information
Dec 31

2006

Dec 31

2005

Cash and cash equivalents $ 1,487,848  $ 651,265 
Total current assets 3,135,144  2,764,889 
Property & equipment (net) 152,655  184,025 
Total assets 3,319,851  2,994,581 
Total current liabilities 310,351  176,137 
Long-term debt -0-  -0- 
Stockholders' equity 2,959,000  2,759,144 

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