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Electro-Sensors, Inc. Announces 2018 Year End Financial Results

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MINNETONKA, Minn., March 21, 2019 /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, 2018.

  • Revenue of $7.5 million
  • Gross margin of 54.0%
  • Cash and investments of $8.8 million

In thousands, except per share data



FY18


FY17


Change

Net Sales


$

7,495


$

7,840


-4.4

%

Gross Margin



54.0

%


54.8

%

-80

bps

Operating Income (Loss)


$

(145)


$

410


-135.4

%

Operating Income (Loss) Margin



(1.9)

%


5.2

%

-710

bps

Income (Loss) Before Income Taxes


$

(18)


$

458


-103.9

%

Earnings (Loss) Per Share (diluted)


$

0.00


$

0.09


-100.0

%

Net sales during 2018 decreased 4.4% to $7,495,000 from $7,840,000 in the prior year.  The decrease was due primarily to a decrease in all product lines and geographies, as we saw general softness in our primary markets.

International markets provided approximately 11% of our 2018 revenue from shipments into 27 countries.

"In 2018 we celebrated our 50th anniversary of providing industry leading machine monitoring sensors and hazard monitoring systems," said David L. Klenk, Electro-Sensors' president.  "While this is an impressive milestone, we are even more encouraged about the years to come as we continue to enhance our product portfolio and pursue exciting new markets."

A full analysis of results for the year ended December 31, 2018 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, 2018 and 2017

(in thousands except share and per share amounts)



Years Ended December 31,


2018


2017


Sales

$

7,495


$

7,840


Cost of goods sold


3,448



3,541


Gross profit


4,047



4,299









Operating expenses


4,192



3,889









Operating income (loss)


(145)



410









Non-operating income, net


127



48









Income (loss) before income taxes


(18)



458









Income tax expense (benefit)


(8)



163









Net income (loss)

$

(10)


$

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