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Electronic Systems Technology Announces 2nd Quarter 2013 Financial Information

KENNEWICK, Wash., Aug. 14, 2013 (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 three and six month periods ended June 30, 2013.

EST reported sales for the second quarter 2013, of $493,607, compared to sales of $416,931 for the same quarter in 2012. For the second quarter of 2012 the Company recorded Net Loss of $(6,291), or $(0.00) per share, compared to a Net Loss of $(54,123), or $(0.01), for the second quarter of 2012. EST recorded a Net Loss of $(51,903) or $(0.01) per share on sales of $907,020 for the six month period ended June 30, 2013, compared with a Net Loss of $(78,516) or $(0.02) per share on sales of $909,738 for the same period in 2012.

Selected Statement of Operations Information
(Unaudited)
Three Months Ended Six Months Ended
June 30
2013
June 30
2012
June 30
2013
June 30
2012
Sales $ 493,607 $ 416,931 $ 907,020 $ 909,738
Net income (loss) before tax (11,669) (80,291) (76,042) (116,215)
Net Income (loss) (6,291) (54,123) (51,903) (78,516)
Weighted average common
Shares outstanding 5,158,667 5,158,667 5,158,667 5,158,667
Basic Earnings (Loss) per Share
Diluted Earnings (Loss) per Share
$ (0.00)
$ (0.00)
$ (0.01)
$ (0.01)
$ (0.01)
$ (0.01)
$ (0.02)
$ (0.02)
Selected Balance Sheet Information
(Unaudited)
June 30,
2013
December 31,
2012
Cash and cash equivalents $ 887,508 $ 818,497
Total current assets 2,933,160 2,923,777
Property & equipment (net) 37,227 42,272
Total assets 3,010,662 2,993,724
Total current liabilities 119,029 51,901
Long-term debt -0- -0-
Stockholders' equity 2,891,633 2,941,823

CONTACT: Mike Eller Electronic Systems Technology, Inc. eller@esteem.comSource:Electronic Systems Technology, Inc.