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Donnerstag,
31.03.2022 17:48
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PR Newswire
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Electro-Sensors, Inc. Announces 2021 Year-End Financial Results
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PR Newswire
MINNETONKA, Minn., March 31, 2022
MINNETONKA, Minn., March 31, 2022 /PRNewswire/ -- Electro-Sensors, Inc. (NASDAQ: ELSE), a leading global provider of machine monitoring sensors and hazard monitoring systems, today announced financial results for the year ended December 31, 2021.
- Record net sales of $8.6 million, up 12.9% over prior year
- Gross Margin of 54.3%
- Cash and investments of $9.8 million
Table in thousands, except per share data
| | | FY21 | | FY20 | | Change | |||
| Net Sales | | $ | 8,607 | | $ | 7,621 | | 12.9 | % |
| Gross Margin | | | 54.3 | % | | 51.6 | % | 270 | bps |
| Operating Income (Loss) | | $ | 441 | | $ | (204) | | 316.2 | % |
| Operating Income (Loss) Margin | | | 5.0 | % | | (2.7) | % | 770 | bps |
| Income (Loss) Before Income Taxes | | $ | 459 | | $ | (172) | | 366.9 | % |
| Earnings Per Share (diluted) | | $ | 0.12 | | $ | (0.04) | | 400.0 | % |
Net sales during 2021 increased 12.9% to $8,607,000 from $7,621,000 in the prior year. Net sales increased primarily due to domestic orders in agricultural and industrial automation applications.
"We are pleased to report we achieved record annual revenue during 2021," said David L. Klenk, Electro-Sensors' president. "Growth during the year was driven by customers moving forward with capacity expansions and facility modernizations."
Klenk continued, "Following a very difficult period brought on by the COVID-19 pandemic, business conditions are steadily improving, and we are excited to once again be able to travel and meet face to face with our customers."
A full analysis of results for the year ended December 31, 2021 is available in the Company's Form 10-K, 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. | ||||||||
| Statements of Income | ||||||||
| For the Years Ended December 31, 2021 and 2020 | ||||||||
| (in thousands except share and per share amounts) | ||||||||
| | ||||||||
| | Years Ended December 31, | | ||||||
| | 2021 | | 2020 | | ||||
| Net sales | $ | 8,607 | | $ | 7,621 | | ||
| Cost of goods sold | | 3,930 | | | 3,691 | | ||
| Gross profit | | 4,677 | | | 3,930 | | ||
| | | | | | | | ||
| Operating expenses | | 4,236 | | | 4,134 | | ||
| | | | | | | | ||
| Operating income (loss) | | 441 | | | (204) | | | |
| | | | | | | | ||
| Non-operating income, net | | 18 | | | 32 | | ||
| | | | | | | | ||
| Income (loss) before income taxes | | 459 | | | (172) | | ||
| | | | | | | | ||
| Income tax expense (benefit) | | 49 | | | (48) | | ||
| | | | | | | | ||
| Net income (loss) | $ | 410 | | $ | (124) | | ||
| | | | | | | | ||
| Earnings (loss) per share – diluted | $ | 0.12 | | $ | (0.04) | | ||
| Average shares outstanding - diluted | | 3,444,939 | | | 3,395,521 Werbung Mehr Nachrichten zur Electro-Sensors Aktie kostenlos abonnieren
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