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Dienstag,
10.11.2015 22:40
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PR Newswire
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Electro-Sensors, Inc. Announces Third Quarter 2015 Financial Results
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PR Newswire
MINNETONKA, Minn., Nov. 10, 2015
MINNETONKA, Minn., Nov. 10, 2015 /PRNewswire/ -- Electro-Sensors, Inc. (NASDAQ: ELSE), a leading global provider of machine monitoring sensors and hazard monitoring systems, today announced financial results for the third quarter ended September 30, 2015.
- Record quarterly revenue for the 2015 third quarter
- Year-to-date sales up 12.8%
- Third quarter international sales increased 25%
- Third quarter operating income increased 30.7%
| Consolidated (unaudited; in thousands, except per share data) | |||||||||
| | |||||||||
| | | Q3 FY15 | | Q3 FY14 | | Change | |||
| Net Sales | | $ | 2,132 | | $ | 1,917 | | 11.2 | % |
| Gross Margin | | | 56.8 | % | | 59.8 | % | -300 | bps |
| Operating Income | | $ | 294 | | $ | 225 | | 30.7 | % |
| Operating Income Margin | | | 13.7 | % | | 11.7 | % | 200 | bps |
| Income Before Income Taxes | | $ | 299 | | $ | 481 | | -37.8 | % |
| Earning Per Share (diluted) | | $ | .05 | | $ | .09 | | -44.4 | % |
Net sales in the 2015 third quarter increased 11.2% to $2,132,000 from $1,917,000 in the prior-year quarter. The quarterly increase was due to strong performance in the eastern region of the U.S. and a 25% growth in international sales. Operating income increased 30.7% to $294,000 from $225,000.
For the first nine months of 2015, net sales increased 12.8% to $6,065,000 from $5,379,000 for the first nine months of the prior year. The increase was due to strong international growth, with a 29% increase in sales to Mexico and Canada. Operating income increased 14.1% to $454,000 from $398,000.
"We are pleased to report another strong quarter of double-digit revenue growth and improved operating income as our customers continue to select our legacy monitoring solutions and adopt our new wireless hazard monitoring systems," said Electro-Sensors President David L. Klenk.
A full analysis of results for the period ended September 30, 2015 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 Nine Months Ended September 30, 2015 and 2014 (unaudited) (in thousands except share and per share amounts) | ||||||
| | ||||||
| | Three Months Ended September 30 | | ||||
| | 2015 | | 2014 | | ||
| Sales | $ | 2,132 | | $ | 1,917 | |
| Cost of goods sold | | 920 | | | 770 | |
| Gross profit | | 1,212 | | | 1,147 | |
| | | | | | | |
| Operating expenses | | 918 | | | 922 | |
| | | | | | | |
| Operating income | | 294 | | | 225 | |
| | | | | | | |
| Non-operating income | | 5 | | | 256 | |
| | | | | | | |
| Income before income taxes | | 299 | | | 481 | |
| | | | | | | |
| Income taxes | | 104 | | | 168 | |
| | | | | | | |
| Net income | $ | 195 | | $ | 313 | |
| | | | | | | |
| Earnings per share – diluted | $ | 0.05 | | $ | 0.09 | |
| Average shares outstanding - diluted Werbung Mehr Nachrichten zur Electro-Sensors Aktie kostenlos abonnieren
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