Electro-Sensors, Inc. Announces 2024 Year-End Financial Results
Electro-Sensors Inc (NASDAQ: ELSE), a leading provider of machine monitoring sensors and hazard monitoring systems, reported its financial results for the year ended December 31, 2024. The company achieved record annual revenue of $9.4 million, representing a 9.6% increase from $8.6 million in the previous year.
The revenue growth was primarily attributed to increased sales of HazardPRO wireless sensors in agricultural applications. International sales showed improvement, accounting for 11.5% of net sales compared to 10.3% in the prior year. The company maintained a strong gross margin of 48.9% and reported cash and investments of $10.0 million.
Electro-Sensors Inc (NASDAQ: ELSE), un fornitore leader di sensori per il monitoraggio delle macchine e sistemi di monitoraggio dei rischi, ha riportato i risultati finanziari per l'anno chiuso il 31 dicembre 2024. L'azienda ha raggiunto un fatturato annuale record di 9,4 milioni di dollari, con un aumento del 9,6% rispetto agli 8,6 milioni dell'anno precedente.
La crescita del fatturato è stata principalmente attribuita all'aumento delle vendite dei sensori wireless HazardPRO nelle applicazioni agricole. Le vendite internazionali hanno mostrato un miglioramento, rappresentando l'11,5% delle vendite nette rispetto al 10,3% dell'anno precedente. L'azienda ha mantenuto un forte margine lordo del 48,9% e ha riportato liquidità e investimenti pari a 10,0 milioni di dollari.
Electro-Sensors Inc (NASDAQ: ELSE), un proveedor líder de sensores para monitoreo de máquinas y sistemas de monitoreo de riesgos, informó sus resultados financieros para el año que terminó el 31 de diciembre de 2024. La compañía alcanzó un ingreso anual récord de 9.4 millones de dólares, lo que representa un aumento del 9.6% respecto a los 8.6 millones del año anterior.
El crecimiento de los ingresos se atribuyó principalmente al aumento en las ventas de sensores inalámbricos HazardPRO en aplicaciones agrícolas. Las ventas internacionales mostraron una mejora, representando el 11.5% de las ventas netas en comparación con el 10.3% del año anterior. La empresa mantuvo un fuerte margen bruto del 48.9% e informó de efectivo e inversiones por 10.0 millones de dólares.
Electro-Sensors Inc (NASDAQ: ELSE)는 기계 모니터링 센서 및 위험 모니터링 시스템의 선도적인 공급업체로, 2024년 12월 31일로 종료된 회계연도의 재무 결과를 보고했습니다. 회사는 기록적인 연간 수익인 940만 달러를 달성했으며, 이는 전년의 860만 달러에서 9.6% 증가한 수치입니다.
수익 성장의 주요 원인은 농업 분야에서 HazardPRO 무선 센서의 판매 증가에 있습니다. 국제 판매는 개선되어 순매출의 11.5%를 차지했으며, 이는 전년의 10.3%에 비해 증가한 수치입니다. 회사는 48.9%의 강력한 총 이익률을 유지했으며, 현금 및 투자액은 1000만 달러로 보고했습니다.
Electro-Sensors Inc (NASDAQ: ELSE), un fournisseur leader de capteurs de surveillance des machines et de systèmes de surveillance des dangers, a publié ses résultats financiers pour l'année close le 31 décembre 2024. L'entreprise a atteint un chiffre d'affaires annuel record de 9,4 millions de dollars, représentant une augmentation de 9,6 % par rapport à 8,6 millions de dollars l'année précédente.
La croissance du chiffre d'affaires a été principalement attribuée à l'augmentation des ventes de capteurs sans fil HazardPRO dans les applications agricoles. Les ventes internationales ont montré une amélioration, représentant 11,5 % des ventes nettes contre 10,3 % l'année précédente. L'entreprise a maintenu une solide marge brute de 48,9 % et a déclaré des liquidités et des investissements de 10,0 millions de dollars.
Electro-Sensors Inc (NASDAQ: ELSE), ein führender Anbieter von Maschinenüberwachungssensoren und Gefahrenüberwachungssystemen, hat seine finanziellen Ergebnisse für das am 31. Dezember 2024 endende Jahr veröffentlicht. Das Unternehmen erzielte einen Rekordjahresumsatz von 9,4 Millionen US-Dollar, was einem Anstieg von 9,6% im Vergleich zu 8,6 Millionen US-Dollar im Vorjahr entspricht.
Das Umsatzwachstum wurde hauptsächlich durch steigende Verkäufe von HazardPRO-Drahtlosensoren in landwirtschaftlichen Anwendungen erzielt. Die internationalen Verkäufe zeigten Verbesserungen und machten 11,5% des Nettoumsatzes im Vergleich zu 10,3% im Vorjahr aus. Das Unternehmen hielt eine starke Bruttomarge von 48,9% und berichtete über Bargeld und Investitionen in Höhe von 10,0 Millionen US-Dollar.
- Record annual revenue of $9.4M, up 9.6% YoY
- Strong gross margin of 48.9%
- Healthy cash position of $10.0M
- International sales increased to 11.5% from 10.3%
- None.
- Annual revenue of
$9.4 million 9.6% over prior year - Gross Margin of
48.9% - Cash and investments of
$10.0 million
Table in thousands, except per share data
FY24 | FY23 | Change | |||||||
Net Sales | $ | 9,373 | $ | 8,555 | 9.6 | % | |||
Gross Margin | 48.9 | % | 49.6 | % | (70) | bps | |||
Operating Income (Loss) | $ | (4) | $ | (28) | 85.7 | % | |||
Operating Income (Loss) Margin | (0.0) | % | (0.4) | % | 40 | bps | |||
Income Before Income Taxes | $ | 436 | $ | 378 | 15.3 | % | |||
Earnings Per Share (diluted) | $ | 0.13 | $ | 0.08 | 62.5 | % | |||
Net sales during 2024 increased
"We are pleased to have achieved record annual revenue in 2024," said David L. Klenk, Electro-Sensors' president. "We experienced growth in both our wired and wireless product families, with sales of HazardPROTM wireless products growing at a somewhat faster rate than our traditional wire-based products.
A full analysis of results for the year ended December 31, 2024 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, 2024 and 2023 (in thousands except share and per share amounts)
| ||||||||
Years Ended December 31, | ||||||||
2024 | 2023 | |||||||
Net sales | $ | 9,373 | $ | 8,555 | ||||
Cost of goods sold | 4,791 | 4,310 | ||||||
Gross profit | 4,582 | 4,245 | ||||||
Operating expenses | 4,586 | 4,273 | ||||||
Operating loss | (4) | (28) | ||||||
Non-operating income, net | 440 | 406 | ||||||
Income before income taxes | 436 | 378 | ||||||
Income tax expense (benefit) | (10) | 103 | ||||||
Net income | $ | 446 | $ | 275 | ||||
Earnings per share – diluted | $ | 0.13 | $ | 0.08 | ||||
Average shares outstanding - diluted | 3,435,040 | 3,428,021 | ||||||
Electro-Sensors, Inc. Balance Sheets December 31, 2024 and 2023 (in thousands)
| ||||||
December 31 | ||||||
2024 | 2023 | |||||
Assets | ||||||
Current Assets | ||||||
Cash and investments | $ | 10,004 | $ | 9,926 | ||
Trade receivables, net | 1,309 | 1,283 | ||||
Inventories | 1,964 | 1,751 | ||||
Other current assets | 197 | 179 | ||||
Total current assets | 13,474 | 13,139 | ||||
Deferred income tax asset | 501 | 355 | ||||
Property and equipment, net | 910 | 951 | ||||
Total assets | $ | 14,885 | $ | 14,445 | ||
Liabilities and Stockholders' Equity | ||||||
Current Liabilities | ||||||
Accounts payable and accrued expenses | $ | 552 | $ | 690 | ||
Total current liabilities | 552 | 690 | ||||
Stockholders' equity | ||||||
Common stock | 344 | 342 | ||||
Additional paid-in capital | 2,360 | 2,230 | ||||
Retained earnings | 11,629 | 11,183 | ||||
Total stockholders' equity | 14,333 | 13,755 | ||||
Total liabilities and stockholders' equity | $ | 14,885 | $ | 14,445 | ||
2025 Annual Meeting of Shareholders
Our Annual Meeting will be held via live webcast on April 23, 2025 at 2:00 PM Central Time at www.virtualshareholdermeeting.com/ELSE2025. Please retain a copy of the 16 digit Control Number that is printed on your proxy card as you will need it to enter the Annual Meeting as a verified shareholder. Shareholders will be able to vote in this virtual meeting as if they were attending an in-person meeting. Shareholders may submit questions prior to the start of the meeting at https://www.electro-sensors.com/about/investor-info under Investor Contact - Email Gloria.
About Electro-Sensors
Electro-Sensors, Inc. is an industry leading designer and manufacturer of rugged and reliable machine monitoring sensors and wireless/wired hazard monitoring systems applied across multiple industries and applications. These products improve processes by protecting people, safeguarding systems, reducing downtime, and preventing waste. Electro-Sensors is proud to be an ISO9001:2015 quality certified company and is committed to providing excellent customer service and technical support. Founded in 1968 and located in
Cautionary Statement Regarding Forward Looking Statements
This press release may include statements about possible or anticipated future financial performance, business activities, plans, or opportunities. These forward-looking statements may include the words "will," "should," "believes," "expects," "anticipates," "intends" or similar expressions. For these forward-looking statements, the Company claims the protection of the safe harbor for forward−looking statements contained in federal securities laws. Forward-looking statements reflect the company's current views with respect to future events and financial performance and include any statement that does not directly relate to a current or historical fact. These forward-looking statements are subject to a number of factors, risks and uncertainties, including those disclosed in our periodic filings with the SEC that could cause actual performance, activities, plans, or opportunities after the date the statements are made to differ significantly from those indicated in the forward-looking statements.
For more information please visit our website at: www.electro-sensors.com. Also look us up on:
LinkedIn: linkedin.com/company/electro-sensors-inc-
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SOURCE Electro-Sensors, Inc.
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