Welcome to our dedicated page for Electro-Sensors news (Ticker: ELSE), a resource for investors and traders seeking the latest updates and insights on Electro-Sensors stock.
Electro-Sensors, Inc. (NASDAQ: ELSE) stands as a premier designer and manufacturer of machine monitoring sensors and hazard monitoring systems. Since its inception in 1968, the company has carved a niche in delivering reliable and durable machine monitoring solutions across various industries worldwide. Located in Minnetonka, Minnesota, Electro-Sensors is dedicated to minimizing downtime and preventing costly machinery failures through its easy-to-install, long-lasting products.
The company's extensive product portfolio includes systems that measure machine production and operation rates, and regulate the speed of related machinery in production processes. These products help in identifying potential problems early, preventing equipment damage, product jams, and unnecessary cleanup of wasted product. Key product offerings feature speed monitoring systems, alarm systems, tachometers, and devices that translate sensor impulses into actionable data such as alarm signals, computer inputs, or digital displays.
Electro-Sensors' recently achieved milestones include the successful launch and increased sales of their HazardPRO wireless hazard monitoring systems, despite encountering challenges like reduced demand due to rescheduled capital expenditures and increased material and labor costs. In the latest financial updates, the company reported a slight decline in net sales for 2023, attributed to delayed facility upgrades. However, fourth-quarter results showed a recovery with stronger net sales, driven by several repeat orders for HazardPRO systems.
The firm prides itself on its ISO9001:2015 quality certification, reflecting its commitment to providing excellent customer service and technical support. Electro-Sensors continues to innovate and adapt its offerings to meet customer needs, ensuring a safer and more efficient operational environment for their clients.
For the most recent updates and further information, Electro-Sensors' latest financial results and detailed analysis can be accessed on their official website and through the Securities and Exchange Commission's Edgar database.
Electro-Sensors (NASDAQ: ELSE) reported strong Q3 2024 financial results with revenue increasing 22.1% to $2.512 million compared to $2.057 million in Q3 2023. The company achieved a gross margin of 50.4%, up from 48.3% year-over-year. Operating income improved significantly to $173,000 compared to a loss of $26,000 in the prior year. Net income reached $238,000 or $0.07 per diluted share. The growth was driven by increased sales in both wired sensor products and wireless HazardPRO™ products, particularly in industrial automation and agricultural applications. The company maintained a strong balance sheet with cash and investments of $10.3 million.
Electro-Sensors, Inc. (NASDAQ: ELSE) reported its Q2 2024 financial results, showing a 3.7% increase in quarterly revenue to $2,217,000. The company's gross margin was 47.2%, down from 50.0% in Q2 2023. Despite the revenue growth, Electro-Sensors recorded an operating loss of $107,000 compared to an operating income of $44,000 in the prior-year quarter. The company maintained a strong cash position with $9.9 million in cash and investments. Sales growth was primarily attributed to increased demand for HazardPRO wireless hazard monitoring systems. For the first six months of 2024, net sales increased by 6.7% to $4,461,000, while gross margin decreased to 47.7% due to higher material and labor costs.
Electro-Sensors, Inc. reported first-quarter 2024 financial results, showcasing revenue growth of 9.7% to $2,244,000. The company's Gross Margin was 48.1%, with cash and investments totaling around $10.1 million. President David L. Klenk attributed the revenue increase to larger orders for facility upgrades and modernization projects, along with rising sales in wired sensors and wireless HazardPRO™ systems.
Electro-Sensors, Inc. (NASDAQ: ELSE) reported record annual revenue of $9.0 million for the year ended December 31, 2022, marking a 4.9% increase from the prior year. Despite the revenue growth, the company faced challenges with a net loss of $37,000 and earnings per share declining 75% to $0.03. The gross margin slightly decreased to 53.6% from 54.3%, while operating expenses rose significantly. The annual meeting is scheduled for April 27, 2023, allowing shareholders to vote virtually.
Electro-Sensors, Inc. (Nasdaq: ELSE) and Mobile X Global, Inc. have mutually terminated their merger agreement originally made on June 10, 2022, due to challenges in securing necessary equity financing of at least $20 million. Insufficient PIPE investment opportunities in the current financial markets hindered the transaction's completion. Following this development, Electro-Sensors' board established a special committee to evaluate strategic alternatives for future business development.
Electro-Sensors, Inc. (NASDAQ: ELSE) reported Q3 2022 revenue of $2.216 million, a 2.9% increase year-over-year. The gross margin stood at 52.5%, down from 55.9% a year ago. Operating income surged 495% to $119,000, with a margin of 5.4%. Net income reached $122,000, translating to earnings per share of $0.04. Despite challenges in the macroeconomic environment, the growth was driven by increased sales of HazardPRO systems and traditional wired products.
FAQ
What is the current stock price of Electro-Sensors (ELSE)?
What is the market cap of Electro-Sensors (ELSE)?
What does Electro-Sensors, Inc. specialize in?
When was Electro-Sensors, Inc. founded?
What are some of the core products offered by Electro-Sensors?
Where is Electro-Sensors, Inc. located?
How can I access the latest financial updates of Electro-Sensors, Inc.?
What industries does Electro-Sensors, Inc. serve?
What is the importance of Electro-Sensors' products?
How does Electro-Sensors ensure product quality?
What recent financial performance has been reported by Electro-Sensors, Inc.?
How can I contact Electro-Sensors, Inc. for more information?
