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Electro-Sensors, Inc. Announces 2024 Year-End Financial Results

1. ELSE reported $9.4 million in annual revenue, a 9.6% increase. 2. Gross margin decreased slightly to 48.9% from 49.6%. 3. Operating loss improved significantly, down to $4 from $28. 4. Earnings per share rose to $0.13, a 62.5% increase. 5. Cash and investments amounted to $10 million.

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Revenue growth and earnings per share improvement signal positive company momentum; similar patterns have benefited small-cap firms in the past.

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, /PRNewswire/ -- Electro-Sensors, Inc. (NASDAQ: ELSE), a leading global provider of machine monitoring sensors and hazard monitoring systems, today announced financial results for the year ended December 31, 2024. Annual revenue of $9.4 million, up 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 9.6% to $9,373,000 from $8,555,000 in the prior year.  The increase in net sales was largely driven by higher sales of HazardPRO wireless sensors in agricultural applications.  International sales increased slightly to 11.5% of net sales compared to 10.3% of net sales for the prior year. "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 Minnetonka, Minnesota, Electro-Sensors provides its loyal customers with reliable products that improve safety and help plants operate with greater efficiency, productivity and control. 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-X: x.com/ESIsensorsFacebook: facebook.com/ElectroSensors SOURCE Electro-Sensors, Inc. WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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