Electronic Systems Technology, Inc (ELST)

[di4]

Electronic Systems Technology Inc. Announces 1st Quarter 2009 Financial Information
May 14, 2009 4:33:00 PM
Copyright Business Wire 2009


Email Story Discuss on ZenoBank

View Additional ProfilesKENNEWICK, Wash.--(BUSINESS WIRE)-- Electronic Systems Technology Inc. (EST) (OTCBB: 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, 2009.

EST reported sales for the first quarter 2009 of $452,130 compared to $580,137 for the same quarter in 2008. Gross revenues for the first quarter of 2009 decreased to $462,983, compared with gross revenues of $598,832 in the first quarter of 2008. The Company recorded a Net Loss for the first quarter of 2009 of $1,564, or ($0.00) per share, compared with a Net Loss of $36,240 or ($0.01) per share for the first quarter of 2008.


Selected Statement of Operations Information

(Unaudited)

Three Months Ended

March 31, March 31,

2009 2008

Sales $ 452,130 $ 580,137

Other Revenues 10,853 18,695

Gross Revenues $ 462,983 $ 598,832

Net Income (loss) before tax (4,664 ) (46,640 )

Net Income (loss) (1,564 ) (36,240 )

Weighted average common shares outstanding 5,158,667 5,155,645

Basic Earnings (Loss)per Share $ ( 0.00 ) $ ( 0.01 )

Diluted Earnings (Loss) per Share ( 0.00 ) ( 0.01 )




Selected Balance Sheet Information

(Unaudited)

March 31, December 31,

2009 2008

Cash and cash equivalents $ 891,362 $ 512,800

Total current assets 2,922,273 2,921,713

Property & equipment (net) 100,686 110,722

Total assets 3,052,299 3,059,875

Total current liabilities 89,948 93,548

Long-term debt -0- -0-

Stockholders' equity 2,930,951 2,931,727






Source: Electronic Systems Technology Inc.


----------------------------------------------
Electronic Systems Technology Inc.
Jon Correio
509-735-9092
www.esteem.com