Electronic Systems Technology Inc. Announces 1st Quarter 2013 Financial Information

Electronic Systems Technology Inc. Announces 1st Quarter 2013 Financial Information

KENNEWICK, Wash.--(BUSINESS WIRE)-- Electronic Systems Technology Inc. (EST) (OTCQB:ELST), dba ESTeem Wireless Modems, the manufacturer of the ESTeem product line of wireless modems, today announced sales and results of operations for the three month period ending March 31, 2013.

EST reported sales for the first quarter 2013 of $413,413 compared to $492,807 for the same quarter in 2012. Gross revenues for the first quarter of 2013 decreased to $415,402, compared with gross revenues of $494,535 in the first quarter of 2012. The Company recorded a net loss for the first quarter of 2013 of $(45,612) or $(0.01) per share, compared with a net loss of $(24,393) or $(0.00) per share for the first quarter of 2012.

 
Selected Statement of Operations Information
(Unaudited)
          Three Months Ended
March 31,           March 31,
 2013 2012
Sales$413,413$492,807
Other Revenues 1,989 1,728
Gross Revenues$415,402$494,535
Net Income (loss) before tax(64,373)(34,924)
Net Income (loss)(46,612)(24,393)
Weighted average common shares outstanding5,158,6675,158,667

Basic Earnings (Loss) per Share

$(0.01)$(0.00)
Diluted Earnings (Loss) per Share(0.01)(0.00)
 
 
Selected Balance Sheet Information
(Unaudited)
                    March 31,      December 31,
2013 2012
Cash and cash equivalents

 

$

757,927

$

818,497

Total current assets2,920,6372,923,777
Property & equipment (net)38,99842,272
Total assets2,988,2102,993,724
Total current liabilities94,18645,701
Long-term debt-0--0-
Stockholders' equity

2,897,924

2,941,823
 

Contact Mike Eller at Electronic Systems Technology Inc. for additional information.



Electronic Systems Technology Inc.
Mike Eller, 509-735-9092
www.esteem.com

KEYWORDS:   United States  North America  Washington

INDUSTRY KEYWORDS:

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