Message #1 From:
NewsBot Date: April 22, 2005 10:01:33 AM
ELST Electronic Systems Technology Inc,Stock Trading Message Board News
Electronic Systems Technology, Inc. Announces Record Sales for 3rd Consecutive Year
KENNEWICK, Wash.
Electronic Systems Technology Inc.
Jon Correio, 509-735-9092
www.esteem.com
Electronic Systems Technology Inc. (EST) (OTCBB:ELST), manufacturer of ESTeem wireless modems, today announced sales and results of operations for the three and twelve month periods ended December 31, 2004.
EST reported sales for 2004 of $2,297,945 compared to $2,064,628 for 2003, an increase of 11% from 2003, and reflecting the third consecutive record sales year for the Company. Net Income for 2004 was $174,820, or $0.03 per share, compared with a Net Income of $123,006, or $0.02 per share, for 2003. For the fourth quarter of 2004, EST reported a Net Income of $27,406, or $0.005 per share, on sales of $586,641 compared with a Net Income of $34,713 or $0.006 per share, on sales of $507,963 for the fourth quarter of 2003.
Selected Statement of Operations Information Summary
Three Months Ended Twelve Months Ended
(unaudited)
Dec 31 Dec 31 Dec 31 Dec 31
2004 2003 2004 2003
----------- ----------- ----------- -----------
Sales $ 586,641 $ 507,963 $2,297,945 $2,064,628
Net income (loss)
before tax 41,525 40,124 260,126 173,901
Net Income (loss) 27,406 34,713 174,820 123,006
Weighted average
common shares
outstanding 5,272,611 5,135,866 5,272,611 5,135,866
Basic Earnings
(loss) per Share $ 0.005 $ 0.006 $ 0.03 $ 0.02
Diluted Earnings
(loss) per Share $ 0.005 $ 0.006 $ 0.03 $ 0.02
Selected Balance Sheet Information
Dec 31, 2004 Dec 31, 2003
-------------- -------------
Cash and cash equivalents $ 488,480 $ 378,103
Total current assets 2,707,919 2,557,929
Property & equipment (net) 253,456 222,674
Total assets 2,983,296 2,822,689
Total current liabilities 209,035 202,511
Long-term debt -0- -0-
Stockholders' equity 2,698,761 2,560,778
