Attached files
| file | filename |
|---|---|
| 8-K - FORM 8K DATED AUGUST 16, 2011 - ELECTRONIC SYSTEMS TECHNOLOGY INC | aug16118k.htm |
ESTEEM WIRELESS MODEMS
PRESS RELEASE
ELECTRONIC SYSTEMS TECHNOLOGY ANNOUNCES 2nd QUARTER
2011 FINANCIAL
INFORMATION
KENNEWICK, WASHINGTON --- August 16, 2011 --- Electronic Systems Technology Inc. (EST) (OTCQB: ELST), dba ESTeem Wireless Modems, the manufacturer of the ESTeem product of wireless modems, today announced sales and results of operations for the three and six month periods ended June 30, 2011.
EST reported sales for the second quarter 2011, of $312,384, compared to sales of $472,623 for the same quarter in 2010. For the second quarter of 2011 the Company recorded Net Loss of $(106,054), or $(0.02) per share, compared to a Net Loss of $(15,904), or $(0.00), for the second quarter of 2010. EST recorded a Net Income of $(105,565) or $(0.02) per share on sales of $845,604 for the six month period ended June 30, 2011, compared with a Net Income of $19,468 or $0.00 per share on sales of $1,027,652 for the same period in 2010.
Selected Statement of Operations Information |
||||
(Unaudited) |
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Three Months Ended |
Six Months Ended |
|||
June 30 |
June 30 |
June 30 |
June 30 |
|
| Sales | $312,384 | $472,623 | $ 845,604 | $ 1,027,652 |
| Net income (loss) before tax | (151,754) | (19,404) | (143,465) | 20,669 |
| Net Income (loss) | (106,054) | (15,904) | (105,565) | 19,468 |
Weighted average common |
5,158,667 | 5,158,667 | 5,158,667 | 5,158,667 |
| Basic Earnings (Loss) per Share | $ (0.02) |
$ (0.00) |
$ (0.02) |
$ 0.00 |
| Diluted Earnings (Loss) per Share | $ (0.02) | $ (0.00) | $ (0.02) | $ 0.00 |
| Selected Balance Sheet Information | ||
| (Unaudited) | ||
June 30, |
December 31, |
|
Cash and cash equivalents |
$851,391 |
$ 1,133,720 |
Total current assets |
2,934,255 |
3,180,771 |
Property & equipment (net) |
63,609 |
44,255 |
Total assets |
3,067,539 |
3,278,730 |
Total current liabilities |
118,979 |
172,128 |
Long-term debt |
-0- |
-0- |
Stockholders' equity |
2,938,160 |
3,093,602 |
Contact Jon Correio at Electronic Systems Technology, Inc. for additional information.
(EST) ELECTRONIC SYSTEMS TECHNOLOGY -
509-735-9092 (O)
415 N. QUAY ST. - KENNEWICK, WA 99336 - 509-783-5475 (FAX)
WWW.ESTEEM.COM