Message #9 From:
NewsBot Date: November 16, 2005 03:30:00 AM
ELST News Electronic Systems Technology Announces 3rd Quarter 2005 Financial Information
KENNEWICK, Wash.--(BUSINESS WIRE)--Nov. 16, 2005--Electronic Systems Technology Inc. (EST) (OTCBB:ELST), a manufacturer of wireless modems, today announced sales and results of operations for the three and nine month periods ended September 30, 2005.
EST reported sales for the third quarter of 2005 of $650,195 compared to $457,485 for the same quarter in 2004. Net Income for the third quarter was $80,947, or $0.02 per share, compared with a Net Loss of $3,536, or $0.00 per share, for the third quarter of 2004. For the nine-month period, EST recorded net income of $86,193 or $0.02 per share on sales of $1,780,378 for the nine month period ended September 30, 2005, compared with a net income $144,151 or $0.03 per share on sales of $1,789,944 for the same period in 2004.
Electronic Systems Technology, a publicly held Company since 1984, was the first Company to develop the wireless modem and receive the United States and Canadian patent for this technology. Contact EST for more details.
Selected Statement of Operations Information
(Unaudited)
Three Months Ended Nine Months Ended
Sept 30 Sept 30 Sept 30 Sept 30
2005 2004 2005 2004
------------------------------------------
Sales $650,195 $457,485 $1,780,378 $1,789,944
Income (loss) before tax 119,861 (5,358) 139,823 218,401
Net Income (loss) 80,947 (3,536) 86,193 144,151
Weighted average common
shares outstanding 5,227,891 5,268,324 5,227,891 5,268,324
Basic Earnings (Loss)per
share $0.02 $( 0.00) $0.02 $0.03
Diluted Earning (Loss)per
share $0.02 $( 0.00) $0.02 $0.03
Selected Balance Sheet Information
(Unaudited)
Sept 30 December 31
2005 2004
---------------------------------
Cash and cash equivalents $392,228 $488,480
Total current assets 2,715,028 2,707,916
Property & equipment (net) 217,196 253,456
Total assets 2,978,294 2,983,296
Total current liabilities 174,643 209,035
Long-term debt 0 0
Stockholders' equity 2,735,351 2,698,761
