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Electronic Systems Technology, Inc. Announces 2013 Financial Results

KENNEWICK, Wash., March 7, 2014 (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, 2013.

EST reported sales for 2013 of $2,190,258 compared to $2,113,816 for 2012, reflecting an increase of 4% from 2012. Net Profit for 2013 was $116,197, or $0.02 per share, compared with a Net Profit of $24,112, or $0.00 per share, for 2012.

Selected Statement of Operations Information Summary
Twelve Months Ended
December 31 December 31
2013 2012
Sales $2,190,258 $2,113,816
Net income (loss) before tax 108,197 50,522
Net Income (loss) 116,197 24,122
Weighted average common shares outstanding 5,158,667 5,158,667
Basic Earnings (loss) per Share $0.02 $0.00
Diluted Earnings (loss) per Share $0.02 $0.00
Selected Balance Sheet Information
Dec 31 Dec 31
2013 2012
Cash and cash equivalents $896,580 $818,497
Total current assets 3,047,689 2,923,777
Property & equipment (net) 31,372 42,272
Total assets 3,128,744 2,993,724
Total current liabilities 69,011 45,701
Long-term debt -0- -0-
Stockholders' equity 3,059,733 2,993,724

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.

CONTACT: Laura Pedersen, pedersen@esteem.com or 509-735-9092 x100Source:Electronic Systems Technology, Inc.