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Copyright Business Wire 2009
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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.
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Electronic Systems Technology Inc.
Jon Correio
509-735-9092
www.esteem.com
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