Message #4 From:
NewsBot Date: August 12, 2005 02:30:00 AM
ELST News Electronic Systems Technology Announces 2nd Quarter 2005 Financial Information
KENNEWICK, Wash.--(BUSINESS WIRE)--Aug. 12, 2005--Electronic Systems Technology Inc. (EST) (OTCBB:ELST), a manufacturer of wireless modems, today announced sales and results of operations for the three- and six-month periods ended June 30, 2005.
EST reported sales for the second quarter 2005, of $547,178, compared to sales of $687,919 for the same quarter in 2004. For the second quarter of 2005 the Company recorded a Net Loss of $14,718, or $0.00 per share, compared with Net Income of $78,575, or $0.01, for the second quarter of 2004. For the six-month period, EST recorded Net Income of $5,247, or $0.00 per share, on sales of $1,130,184 for the six-month period ended June 30, 2005, compared with Net Income of $147,687, or $0.03 per share, on sales of $1,332,459 for the same period in 2004.
Selected Statement of Operations Information
(Unaudited)
Three Months Ended Six Months Ended
June 30 June 30 June 30 June 30
2005 2004 2005 2004
----------- ----------- ----------- -----------
Sales $ 547,178 $ 687,919 $1,130,184 $1,332,459
Net income (loss)
before tax (17,363) 118,915 19,963 223,759
Net Income (loss) (14,718) 78,575 5,247 147,687
Weighted average
common Shares
outstanding 5,148,667 5,098,667 5,148,667 5,098,667
Basic Earnings (Loss)
per Share $ ( 0.00) $ 0.01 $ 0.00 $ 0.03
Diluted Earnings
(Loss) per Share $ ( 0.00) $ 0.01 $ 0.00 $ 0.03
Selected Balance Sheet Information
(Unaudited)
June 30, December 31,
2005 2004
------------ ------------
Cash and cash equivalents $ 563,380 $ 488,480
Total current assets 2,623,216 2,707,916
Property & equipment (net) 234,946 253,456
Total assets 2,903,995 2,983,296
Total current liabilities 174,311 209,035
Long-term debt -0- -0-
Stockholders' equity 2,656,484 2,698,761
