UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report: MARCH 24, 1997
ELECTRONIC SYSTEMS TECHNOLOGY INC.
(A Washington Corporation)
Commission File no. 2-92949-S
IRS Employer Identification no. 91-1238077
415 N. Quay St. #4
Kennewick WA 99336
(Address of principal executive offices)
Registrant's telephone number, including area code:(509) 735-9092
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ITEM 5. OTHER EVENTS
On MARCH 24, 1997, the Company issued a press release with summary
financial performance figures for the year ending December 31, 1996.
This press release is incorporated by reference and is attached
hereto as Exhibit 99.2.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL STATEMENTS, AND EXHIBITS.
Exhibit 99.2 - Press release issued MARCH 24, 1997.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
ELECTRONIC SYSTEMS TECHNOLOGY, INC.
TOM L. KIRCHNER
By: T.L. Kirchner
President
Date: MARCH 31, 1997
EXHIBIT 99.2 - PRESS RELEASE DATED MARCH 24, 1997
PRESS RELEASE
Electronic Systems Technology 509-735-9092(O)
415 N. Quay Street Kennewick WA 99336 509-783-5475(FAX)
EST ANNOUNCES 1996 FINANCIAL INFORMATION
KENNEWICK, WASHINGTON --- March 24, 1997 --- Electronic Systems Technology Inc.
(EST) (OTC: ELST), a manufacturer of wireless modems, today announced sales and
results of operations for the three and twelve month periods ended
December 31, 1996.
EST reported sales for 1996 of $1,190,304 compared to $1,535,071 for 1995.
Net income for 1996 was $158,735, or $0.03 per share, compared with net
income of $267,709, or $0.05 per share, for 1995. For the fourth quarter of
1996, EST reported net income of $20,100, or $0.003 per share, on sales of
$284,600 compared with net income of $49,000 or $0.01 per share, on sales of
$381,000 for the fourth quarter of 1995.
<TABLE>
SELECTED STATEMENT OF OPERATIONS INFORMATION SUMMARY
<CAPTION>
Three Months Ended Twelve Months Ended
(unaudited)
Dec 31 Dec 31 Dec 31 Dec 31
1996 1995 1996 1995
------- ------- --------- ---------
<S> <C> <C> <C> <C>
Sales $ 284,600 381,000 $ 1,190,304 1,535,071
Net income before tax 22,700 49,000 234,456 404,137
Net Income 20,100 49,000 158,735 267,709
Weighted average common
shares outstanding 5,508,667 5,433,174 5,508,667 5,433,174
Earnings per Share $ 0.003 0.01 $ 0.03 0.05
</TABLE>
<TABLE>
SELECTED BALANCE SHEET INFORMATION
<CAPTION>
Dec 31 Dec 31
1996 1995
-------- --------
<S> <C> <C>
Cash and cash equivalents $1,413,182 1,162,726
Total current assets 1,892,302 1,857,415
Property & equipment (net) 141,210 145,243
Total assets 2,042,709 2,010,772
Total current liabilities 30,775 133,592
Long-term debt -0- -0-
Stockholders' equity 2,011,934 1,877,180
</TABLE>
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APPENDIX:
Item no. 1: (graphic material not included in electronic filing format)
The press release was published showing at top left of the press release,
the Electronic Systems Technology, Inc. trademarked company logo, showing a
black square field containing the stylized letters E S T.
