Sheri
This looks like its been sleeping for awhile,You may have a good one here.
Electronic Systems Technology Announces Third Quarter 1997 Financial Information
Friday, November 7, 1997 09:16 AM
> KENNEWICK, Wash.--Electronic Systems Technology Inc. (EST) (OTC:ELST), a manufacturer of wireless modems, today announced sales and results of operations for the three and nine month periods ended Sept. 30, 1997.
EST reported sales for the third quarter of 1997 in the amount of $366,869 compared to $259,919 for the same quarter in 1996. Net income was $70,995, or $0.01 per share, compared with net income of $20,395, or $0.004 per share, for the third quarter of 1996. For the nine month period, EST reported net income of $93,691, or $0.02 per share, on sales of $913,763 compared with net income of $138,557, or $0.03 per share, on sales of $905,680 for the same period in 1996.
Selected Statement of Operations Information (Unaudited) Three Months Ended Nine Months Ended Sept 30 Sept 30 Sept 30 Sept 30 1997 1996 1997 1996Sales $ 366,869 $ 259,919 $913,763 $ 905,680Net income before tax 107,567 30,902 141,956 211,750Net income 70,995 20,395 93,691 138,557Weighted average common shares outstanding 5,480,843 5,475,339 5,480,843 5,475,339Earnings per share $ 0.01 $ 0.004 $ 0.02 $ 0.03 Selected Balance Sheet Information (Unaudited) Sept. 30, 1997 Dec. 31, 1996Cash and cash equivalents $ 1,435,762 $ 1,413,182Total current assets 1,960,042 1,892,302Property & equipment (net) 134,021 141,210Total assets 2,102,117 2,042,709Total current liabilities 46,029 30,775Long-term debt 0 0Stockholders' equity 2,056,088 2,011,934 CONTACT: Electronic Systems Technology, Kennewick T.L. Kirchner, 509/735-9092 www.esteem.com
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