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: November 7, 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 November 7, 1997, the Company issued a press release with summary financial
performance figures for the quarter ended September 30, 1997. This press
release is incorporated by reference and is attached hereto as Exhibit 99.8.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL STATEMENTS,
AND EXHIBITS.
Exhibit 99.8 - Press release issued November 7, 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.
/s/ T.L. KIRCHNER
By: T.L. Kirchner
President
Date: November 7, 1997
EXHIBIT 99.8 - PRESS RELEASE ISSUED NOVEMBER 7, 1997
PRESS RELEASE
ELECTRONIC SYSTEMS TECHNOLOGY
415 N. QUAY STREET
KENNEWICK, WA 99336
509-735-9092 (O)
509-783-5475 (FAX)
EST ANNOUNCES 3rd QUARTER 1997 FINANCIAL INFORMATION
KENNEWICK, WASHINGTON --- November 7, 1997 --- Electronic Systems Technology
Inc. (EST) (OTC: ELST), a manufacturer of wireless modems, today announced
sales and results of operations for the three and nine month periods ended
September 30, 1997.
EST reported sales for the third quarter of 1997, in the amount of $366,869
compared to $259,919 for the same quarter in 1996. Net income was $70,995,
or $0.01 per share, compared with net income of $20,395, or $0.004 per share,
for the third quarter of 1996. For the nine month period, EST reported net
income of $93,691 or $0.02 per share on sales of $913,763 compared with net
income of $138,557 or $0.03 per share on sales of $905,680 for the same period
in 1996.
<TABLE>
Selected Statement of Operations Information
(Unaudited)
<CAPTION>
Three Months Ended Nine Months Ended
Sept 30 Sept 30 Sept 30 Sept 30
1997 1996 1997 1996
--------- ---------- ---------- ----------
<S> <C> <C> <C> <C>
Sales $ 366,869 $ 259,919 $ 913,763 $ 905,680
Net income before tax 107,567 30,902 141,956 211,750
Net Income 70,995 20,395 93,691 138,557
Weighted average common
shares outstanding 5,480,843 5,475,339 5,480,843 5,475,339
Earnings per Share $ 0.01 0.004 $ 0.02 0.03
</TABLE>
<TABLE>
<CAPTION>
Selected Balance Sheet Information
(Unaudited)
Sept 30 December 31
1997 1996
---------- -----------
<S> <C> <C>
Cash and cash equivalents $1,435,762 $1,413,182
Total current assets 1,960,042 1,892,302
Property & equipment (net) 134,021 141,210
Total assets 2,102,117 2,042,709
Total current liabilities 46,029 30,775
Long-term debt 0 0
Stockholders' equity 2,056,088 2,011,934
</TABLE>
www.esteem.com
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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.
