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Freitag,
12.08.2016 19:10
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PR Newswire
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Electro-Sensors, Inc. Announces Second Quarter 2016 Financial Results
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PR Newswire
MINNETONKA, Minn., Aug. 12, 2016
MINNETONKA, Minn., Aug. 12, 2016 /PRNewswire/ -- Electro-Sensors, Inc. (NASDAQ: ELSE), a leading global provider of machine monitoring sensors and hazard monitoring systems, today announced financial results for the second quarter ended June 30, 2016.
- Sales in the quarter increase 17.1% over first quarter
- Gross margin of 58.4%
- Operating income margin of 10.3%
Consolidated (unaudited; in thousands, except per share data)
| | | Q2 FY16 | | Q2 FY15 | | Change | |||
| Net Sales | | $ | 2,009 | | $ | 2,048 | | -1.9 | % |
| Gross Margin | | | 58.4 | % | | 55.0 | % | 340 | bps |
| Operating Income | | $ | 207 | | $ | 127 | | 63.0 | % |
| Operating Income Margin | | | 10.3 | % | | 6.2 | % | 410 | bps |
| Income Before Income Taxes | | $ | 221 | | $ | 764 | | -71.1 | % |
| Earning Per Share (diluted) | | $ | .04 | | $ | .14 | | -71.4 | % |
Net sales in the second quarter were relatively flat with the same quarter of last year at $2,009,000 compared to $2,048,000 in the prior-year quarter. For the first six months of 2016, net sales decreased 5.3% to $3,725,000 from $3,933,000 for the first six months of the prior year. The decreases were primarily due to lower sales volume in the north central U.S. and overseas territories. Although net sales decreased, there was a favorable shift in the composition, with sales from large orders increasing by over 50%.
"Our 2016 second quarter results show significant improvement over the first quarter as revenue, gross margin and operating margin all improved during the quarter. We are encouraged as our customers are beginning to move forward with strategic projects and plant improvements," said Electro-Sensors President David L. Klenk.
A full analysis of results for the period ended June 30, 2016 is available in the Company's Form 10-Q, which is available on the Company's website at www.electro-sensors.com or through the Securities and Exchange Commission's Edgar database at www.sec.gov.
| Electro-Sensors, Inc. | ||||||
| Consolidated Statements of Income | ||||||
| For the Three and Six Months Ended June 30, 2016 and 2015 (unaudited) | ||||||
| (in thousands except share and per share amounts) | ||||||
| | | |||||
| | Three Months Ended June 30, | |||||
| | 2016 | | 2015 | | ||
| Sales | $ | 2,009 | | $ | 2,048 | |
| Cost of goods sold | | 835 | | | 922 | |
| Gross profit | | 1,174 | | | 1,126 | |
| | | | | | | |
| Operating expenses | | 967 | | | 999 | |
| | | | | | | |
| Operating income | | 207 | | | 127 | |
| | | | | | | |
| Non-operating income | | 14 | | | 637 | |
| | | | | | | |
| Income before income taxes | | 221 | | | 764 | |
| | | | | | | |
| Income taxes | | 77 | | | 268 | |
| | | | | | | |
| Net income | $ | 144 | | $ | 496 | |
| | | | | | | |
| Earnings per share – diluted | $ | 0.04 | | $ | 0.14 | |
| Average shares outstanding - diluted | | 3,692,032 | | | 3,653,021 | |
| | | | | | | |
| | | | | | | |
| | Six Months Ended June 30, | |||||
| | 2016 Werbung Mehr Nachrichten zur Electro-Sensors Aktie kostenlos abonnieren
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