KENNEWICK, Wash., Feb. 6, 2015 (GLOBE NEWSWIRE) -- Electronic Systems Technology Inc. (EST) (OTCQB:ELST), dba ESTeem Wireless Modems, the manufacturer of the ESTeem product line of wireless modems, today announced sales and results of operations for the twelve month period ended December 31, 2014.
EST reported sales for 2014 of $1,867,420 compared to $2,190,258 for 2013, reflecting a decrease of 15% from 2013. Net Loss for 2014 was $101,790, or ($0.02) per share, compared with a Net Profit of $116,197, or $0.02 per share, for 2013.
| Selected Statement of Operations Information Summary | ||
| Twelve Months Ended | ||
| December 31 | December 31 | |
| 2014 | 2013 | |
| Sales | $1,867,420 | $2,190,258 |
| Net income (loss) before tax | (153,912) | 108,197 |
| Net Income (loss) | (101,790) | 116,197 |
| Weighted average common shares outstanding | 5,158,667 | 5,158,667 |
| Basic Earnings (loss) per Share | $ (0.02) | $0.02 |
| Diluted Earnings (loss) per Share | $ (0.02) | $0.02 |
| Selected Balance Sheet Information | ||
| Dec 31 | Dec 31 | |
| 2014 | 2013 | |
| Cash and cash equivalents | $637,086 | $896,580 |
| Total current assets | 2,871,245 | 3,047,689 |
| Property & equipment (net) | 91,907 | 31,372 |
| Total assets | 3,047,553 | 3,128,744 |
| Total current liabilities | 87,365 | 69,011 |
| Long-term debt | -0- | -0- |
| Stockholders' equity | 2,960,188 | 3,059,733 |
Electronic Systems Technology, a publicly held Company since 1984, was the first Company to develop the wireless modem and receive the United States and Canadian patent for this technology. Contact EST for more details.