This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Elecsys Corporation Reports Second Quarter Financial Results

OLATHE, Kansas, Dec. 9, 2013 (GLOBE NEWSWIRE) -- Elecsys Corporation (Nasdaq:ESYS), a provider of innovative machine to machine (M2M) communication technology solutions, data acquisition systems, and custom electronic equipment for critical industrial applications, today announced the financial results for its second fiscal quarter ended October 31, 2013.

Revenues for the quarter were $7,330,000, an increase of 19% from $6,138,000 in revenues during the second quarter of fiscal 2013. Total revenues year-to-date increased 36% to $14,104,000 from $10,395,000. The overall increase in both quarterly and year-to-date revenues resulted from the combined growth of revenues from both of the Company's business segments.

Operating income for the quarter was $1,116,000, compared to operating income of $700,000 for the same quarter in the prior year. For the first six months of fiscal 2014, operating income grew to $1,569,000 from $471,000 in the first six months of fiscal 2013.

Net income was $653,000, or $0.17 per diluted share, for the quarter ended October 31, 2013. For the quarter ended October 31, 2012, net income was $413,000, or $0.11 per diluted share. For the six-month period ended October 31, 2013, net income totaled $917,000, or $0.23 per diluted share, while for the comparable prior year period net income was $252,000, or $0.06 per diluted share.

Revenues from proprietary products and services were $3,742,000 for the quarter ended October 31, 2013, an increase of 19%, or $594,000 from the previous year quarter. For the six-month period ended October 31, 2013, proprietary product and services revenues improved $1,352,000, or 28%, to $6,206,000 compared to $4,854,000 in the comparable period of the prior fiscal year. Sales of wireless remote monitoring and industrial data communication solutions increased almost 42%, or $920,000, from the previous year to $3,112,000 for the current quarter. This overall rise in sales was due to increased customer orders for Watchdog remote monitoring equipment and recurring data management services combined with the introduction of a new remote monitoring product for the commercial transportation industry. Revenues of Radix mobile data acquisition solutions declined $334,000, or 39%, for the period as compared to the prior year.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 17,730.11 -27.80 -0.16%
S&P 500 2,076.78 -0.64 -0.03%
NASDAQ 5,009.2140 -3.9090 -0.08%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs