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Electro-Sensors, Inc. Announces 2018 Year End Financial ResultsMINNETONKA, Minn., March 21, 2019 /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, 2018.
In thousands, except per share data
Net sales during 2018 decreased 4.4% to $7,495,000 from $7,840,000 in the prior year. The decrease was due primarily to a decrease in all product lines and geographies, as we saw general softness in our primary markets. International markets provided approximately 11% of our 2018 revenue from shipments into 27 countries. "In 2018 we celebrated our 50th anniversary of providing industry leading machine monitoring sensors and hazard monitoring systems," said David L. Klenk, Electro-Sensors' president. "While this is an impressive milestone, we are even more encouraged about the years to come as we continue to enhance our product portfolio and pursue exciting new markets." A full analysis of results for the year ended December 31, 2018 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.
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. Most standard products ship within one to two days and have an industry-leading 5-year warranty. 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:
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