Electronic Systems Technology Announces 3rd Quarter 2005 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. -- Electronic Systems Technology Inc. (EST EST electroshock therapy. EST abbr. electroshock therapy ) (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :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 and nine month periods ended September September: see month. 30, 2005. EST reported sales for the third quarter of 2005 of $650,195 compared to $457,485 for the same quarter in 2004. Net Income for the third quarter was $80,947, or $0.02 per share, compared with a Net Loss of $3,536, or $0.00 per share, for the third quarter of 2004. For the nine-month period, EST recorded net income of $86,193 or $0.02 per share on sales of $1,780,378 for the nine month period ended September 30, 2005, compared with a net income $144,151 or $0.03 per share on sales of $1,789,944 for the same period in 2004. 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 EST for more details.
Selected Statement of Operations Information
(Unaudited)
Three Months Ended Nine Months Ended
Sept 30 Sept 30 Sept 30 Sept 30
2005 2004 2005 2004
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Sales $650,195 $457,485 $1,780,378 $1,789,944
Income (loss) before tax 119,861 (5,358) 139,823 218,401
Net Income (loss) 80,947 (3,536) 86,193 144,151
Weighted average common
shares outstanding 5,227,891 5,268,324 5,227,891 5,268,324
Basic Earnings (Loss)per
share $0.02 $( 0.00) $0.02 $0.03
Diluted Earning (Loss)per
share $0.02 $( 0.00) $0.02 $0.03
Selected Balance Sheet Information
(Unaudited)
Sept 30 December 31
2005 2004
---------------------------------
Cash and cash equivalents $392,228 $488,480
Total current assets 2,715,028 2,707,916
Property & equipment (net) 217,196 253,456
Total assets 2,978,294 2,983,296
Total current liabilities 174,643 209,035
Long-term debt 0 0
Stockholders' equity 2,735,351 2,698,761
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