Message #11 From:
NewsBot Date: August 10, 2006 06:30:00 AM
ELST News Electronic Systems Technology Announces 2nd Quarter 2006 Financial Information
KENNEWICK, Wash.--(BUSINESS WIRE)--Aug. 10, 2006--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, 2006.
EST reported sales for the second quarter 2006, of $640,970, compared to sales of $547,178 for the same quarter in 2005. For the second quarter of 2006 the Company recorded a Net Income of $35,304, or $0.01 per share, compared Net Loss of $14,718, or $0.00, for the second quarter of 2005. EST recorded Net Income of $5,305 or $0.00 per share on sales of $1,128,803 for the six month period ended June 30, 2006, compared with Net Income of $5,247 or $0.00 per share on sales of $1,130,184 for the same period in 2005.
Selected Statement of Operations Information
(Unaudited)
Three Months Ended Six Months Ended
June 30 June 30 June 30 June 30
2006 2005 2006 2005
----------- ----------- ----------- -----------
Sales $ 640,970 $ 547,178 $1,128,803 $1,130,184
Net income (loss)
before tax 61,786 (17,363) 6,640 19,963
Net Income (loss) 35,304 (14,718) 5,305 5,247
Weighted average
common Shares
outstanding 5,153,667 5,148,667 5,152,258 5,148,667
Basic Earnings (Loss)
per Share $ 0.01 $ (0.00) $ 0.00 $ 0.00
Diluted Earnings
(Loss) per Share $ 0.01 $ (0.00) $ 0.00 $ 0.00
Selected Balance Sheet Information
(Unaudited)
June 30, December 31,
2006 2005
----------- -----------------
Cash and cash equivalents $ 599,333 $ 651,265
Total current assets 2,778,066 2,764,889
Property & equipment (net) 178,443 184,025
Total assets 2,995,813 2,994,581
Total current liabilities 215,511 176,137
Long-term debt -0- -0-
Stockholders' equity 2,729,602 2,759,144
