EST announces first quarter 1997 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 15, 1997--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 sales and results of operations for the three month period ended March 31, 1997. ^EST reported sales for the first quarter 1997, of $316,027 compared to $352,057 for the same quarter in 1996. Net income for the first quarter of 1997, was $19,691, or $0.003 per share, compared with net income of $55,310, or $0.01 per share for the first quarter of 1996. -0-
Selected Statement of Operations Information
(Unaudited)
Three Months Ended
March 31,
1997 1996
Sales $316,027 $352,057
Net income before tax 29,835 85,618
Net income 19,691 55,310
Weighted average
common shares
outstanding 5,480,905 5,461,206
Earnings per Share $ 0.003 $ 0.01
Selected Balance Sheet Information
(Unaudited)
March 31 Dec. 31
1997 1996
Cash and cash equivalents $1,386,911 $1,413,182
Total current assets 1,948,631 1,892,302
Property & equipment (net) 146,279 141,210
Total assets 2,104,253 2,042,709
Total current liabilities 72,628 30,775
Long-term debt -0- -0-
Stockholders' equity 2,031,625 2,011,934
-0- Electronic Systems Technology, a publicly held company since 1984, was the first company to develop the wireless modem and receive the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. 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: Electronic Systems Technology Tom L. Kirchner, 509/735-9092 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion