Message #3 From:
NewsBot Date: May 13, 2005 09:02:11 AM
ELST Electronic Systems Technology Inc. Announces 1st Quarter 2005 Financial Information
Electronic Systems Technology Inc. Announces 1st Quarter 2005 Financial Information
KENNEWICK, Wash.
Electronic Systems Technology, Inc., Kennewick
Jon Correio, 509-735-9092
Electronic Systems Technology Inc. (EST) (OTCBB:ELST), a manufacturer of wireless modems, today announced sales and results of operations for the three-month period ending March 31, 2005.
EST reported sales for the first quarter 2005 of $555,248, compared to $619,569 for the same quarter in 2004. Gross revenues for the first quarter of 2005 increased to $589,330, compared with gross revenues of $649,957 in the first quarter of 2004, reflecting a decrease of 9%. The Company recorded Net Income for the first quarter of 2005 of $24,719, or $0.01 per share, compared with Net Income of $69,112, or $0.01 per share, for the first quarter of 2004.
Selected Statement of Operations Information
(Unaudited)
Three Months Ended
March 31, March 31,
2005 2004
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Sales $ 555,248 $ 619,569
Other Revenues 34,082 30,388
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Gross Revenues $ 589,330 $ 649,957
Net income (loss) before tax 37,325 104,844
Net Income (loss) 24,719 69,112
Weighted average common
shares outstanding 5,253,050 5,253,580
Basic Earnings (Loss) per Share $ 0.01 $ 0.01
Diluted Earnings (Loss) per Share 0.01 0.01
Selected Balance Sheet Information
(Unaudited)
March 31, December 31,
2005 2004
---------- ----------
Cash and cash equivalents $ 404,281 $ 488,480
Total current assets 2,648,407 2,707,916
Property & equipment (net) 251,350 253,456
Total assets 2,951,679 2,983,296
Total current liabilities 151,510 209,035
Long-term debt -0- -0-
Stockholders' equity 2,724,669 2,698,761
