EST announces first 1996 financial information.KENNEWICK Kennewick (kĕn`əwĭk), city (1990 pop. 42,155), Benton co., SE Wash., on the Columbia River near the influx of the Snake River, in an irrigated farm and vineyard region; inc. 1904. , Wash.--(BUSINESS WIRE)--May 17, 1996--Electronic Systems Technology Inc. (EST EST electroshock therapy. EST abbr. electroshock therapy ) (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :ELST ELST East Lake Sammamish Trail (Washington) ), a manufacturer of wireless modems A modem and antenna that transmits and receives over the air. Wireless modems support several technologies, including 802.11, Bluetooth, CDPD, DataTAC, Mobitex and Ricochet. There are wireless modems for laptops, handhelds and cellphones. , today announced record sales and results of operations for the three month period ending March 31, 1996. EST reported record sales for the first quarter of 1996, of $352,057 compared to $262,139 for the same quarter in 1995. Net income for the first quarter of 1996, was $55,310, or $0.01 per share, compared with net income of $23,660, or $0.004 per share, for the first quarter of 1995. -0-
Electronic Systems Technology Inc.
Selected Statement of Operations Information
(Unaudited)
Three Months Ended
March 31, March 31,
1996 1995
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Sales $ 352,057 $262,139 Net income before tax 85,618 35,849 Net income 55,310 23,660 Weighted average common shares outstanding 5,461,206 5,350,845 Earnings per Share $ 0.01 $ 0.004
Selected Balance Sheet Information
(Unaudited)
March 31 Dec. 31
1996 1995
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Cash and cash equivalents $1,378,219 $ 1,162,726 Total current assets 1,870,898 1,857,415 Property & equipment (net) 301,437 300,747 Total assets 2,017,352 2,010,772 Total current liabilities 84,862 133,592 Long-term debt -0- -0- Stockholders' equity 1,932,490 1,877,180 Electronic Systems Technology, a publicly held company since 1984, was the first company to develop the wireless modem and receive the U.S. and Canadian Canadian (kənā`dēən), river, 906 mi (1,458 km) long, rising in NE New Mexico. and flowing E across N Texas and central Oklahoma into the Arkansas River in E Oklahoma. patent for this technology. Contact EST for more details. CONTACT: Electronic Systems Technology, Kennewick Tom L. Kirchner Kirch·ner , Ernst Ludwig 1880-1938. German expressionist artist whose woodcuts and paintings, such as The Street (1913), convey psychological tension and eroticism with sharply contrasting colors and angular forms. Noun 1. , 509/735-9092 |
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