Electro-Sensors, Inc. (ELSE) stock is up 0.19% in the after-hours trading session at the price of $5.25 despite any recent news.
Second Quarter 2021 Financial Results
ELSE stock is a leading global provider of machine monitoring sensors and hazard monitoring systems. On 12th August 2021, ELSE published financial results for the second quarter ended on 30th June 2021. President of ELSE, David L. Klenk, remarked that they are pleased to report record revenue for the second quarter of 2021. The Q2 results were positively affected by orders for industrial automation applications. It is an area that remains favorable to their growth strategy, he added.
ELSE stock reported net sales growth of 17.7% to $2,462,000 in the second quarter of 2021 from $2,092,000 in the same quarter the previous year. Net sales increased 8.7% to $4,363,000 for the first six months of 2021 from $4,015,000 for the first six months of 2020. The gross margin for the second quarter of 2021 was 55.9%, up from 52.5% in the same quarter in 2020. Earnings per share were $0.06 for the second quarter ended on 30th June 2021. Earnings per share were $0.01 for the same quarter the previous year. For the six months that ended on 30th June 2021, the net loss per share was $0.06. Net loss per share was $0.02 for the same period of 2020.
ELSE Stock First Quarter 2021 Financial Results
On 13th May 2021, ELSE stock published financial results for the first quarter ended 31st March 2021. President of ELSE, David L. Klenk, stated that COVID-19 continues to impact their business. In the first quarter, they were encouraged by international sales and gains from their HazardPRO line of wireless hazard monitoring systems. As travel restrictions were gradually beginning to lift, their ability to visit customers has improved. It led them to have closer engagements with their customers, he added.
Net sales for the first quarter of 2021 declined 1.1% to $1,901,000 from $1,923,000 in the same quarter the previous year. Operating expenses have been reduced, leading to a smaller net loss in the first quarter of 2021, compared to the same quarter of 2020. ELSE stock reported a loss per share of $0.00 for the second quarter ended on 31st March 2021. Loss per share was $0.03 for the same quarter the previous year. Net loss was $2k for the three months ended 31st March 2021. Net loss of $31k reported for the same quarter of 2020.
