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Electro-Sensors, Inc. Announces Third Quarter 2024 Financial Results

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MINNETONKA, Minn., Nov. 13, 2024 /PRNewswire/ — Electro-Sensors, Inc. (NASDAQ: ELSE), a leading global provider of machine monitoring sensors and hazard monitoring systems, today announced financial results for the third quarter ended September 30, 2024.

Quarterly revenue of $2,512,000, up 22.1% from the prior-year periodGross margin of 50.4%Cash and investments of approximately $10.3 million

Selected Financial Information (unaudited; in thousands, except per share data)

Q3 2024

Q3 2023

Change

Net Sales

$

2,512

$

2,057

22.1

%

Gross Margin

50.4

%

48.3

%

210

bps

Operating Income (Loss)

$

173

$

(26)

765.4

%

Operating Income Margin

6.9

%

(1.2)

%

810

bps

Income Before Income Taxes

$

290

$

83

249.4

%

Earnings Per Share (diluted)

$

0.07

$

0.00

100.0

%

Net sales in the third quarter increased 22.1% to $2,512,000 from $2,057,000 in the prior-year quarter.  For the nine-month period ended September 30, 2024, net sales increased 11.8% to $6,973,000 from $6,239,000 in the comparable prior-year period.  Furthermore, gross margin for the 2024 third quarter was 50.4%, up from 48.6% in the corresponding quarter in 2023.

“Sales during the third quarter increased for both our wired sensor products and our wireless HazardPRO™ products, largely driven by industrial automation and agricultural applications,” said David L. Klenk, Electro-Sensors’ president. “Furthermore, gross margin improved over the prior-year period as our supply chain continued to stabilize, and we benefited primarily from price adjustments implemented earlier in the year.”

A full analysis of results for the period ended September 30, 2024 is available in the Company’s Form 10-Q, 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 Three and Nine Months Ended September 30, 2024 and 2023 (unaudited)

(in thousands except share and per share amounts)

Three Months Ended September 30,

2024

2023

Sales

$

2,512

$

2,057

Cost of goods sold

1,247

1,064

Gross profit

1,265

993

Operating expenses

1,092

1,019

Operating income (loss)

173

(26)

Non-operating income, net

117

109

Income before income taxes

290

83

Provision for income taxes

52

75

Net income

$

238

$

8

Earnings per share – diluted

$

0.07

$

0.00

Average shares outstanding – diluted

3,434,417

3,428,021

Nine Months Ended September 30,

2024

2023

Sales

$

6,973

$

6,239

Cost of goods sold

3,581

3,156

Gross profit

3,392

3,083

Operating expenses

3,426

3,203

Operating loss

(34)

(120)

Non-operating income, net

342

296

Income before income taxes

308

176

Provision for income taxes

63

96

Net income

$

245

$

80

Earnings per share – diluted

$

0.07

$

0.02

Average shares outstanding – diluted

3,440,382

3,428,021

 

Electro-Sensors, Inc.

Balance Sheets

September 30, 2024 and December 31, 2023

(in thousands)

September 30,

December 31,

2024

2023

Assets

(unaudited)

Current Assets

Cash and investments

$

10,302

$

9,926

Trade receivables, net

1,182

1,283

Inventories

2,003

1,751

Other current assets

272

179

Total current assets

13,759

13,139

Deferred income tax asset, long-term

287

355

Property and equipment, net

911

951

Total assets

$

14,957

$

14,445

Liabilities and Stockholders’ Equity

Current Liabilities

Accounts payable and accrued expenses

$

859

$

690

Total current liabilities

859

690

Stockholders’ equity

Common stock

342

342

Additional paid-in capital

2,328

2,230

Retained earnings

11,428

11,183

Total stockholders’ equity

14,098

13,755

Total liabilities and stockholders’ equity

$

14,957

$

14,445

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/ESIsensors
Facebook: facebook.com/ElectroSensors

 

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SOURCE Electro-Sensors, Inc.

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Analytic Partners Recognized as a Leader in Inaugural Gartner® Magic Quadrant™ for Marketing Mix Modeling Solutions

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Analytic Partners Placed Highest for Ability to Execute and Furthest for Completeness of Vision 

MIAMI, Nov. 26, 2024 /PRNewswire/ — Analytic Partners, the Commercial Intelligence company for insights-driven brands, announced it has been recognized as a Leader in the inaugural Gartner® Magic Quadrant™ for Marketing Mix Modeling (MMM) Solutions. Analytic Partners is positioned highest in Ability to Execute and furthest in Completeness of Vision.

“We believe our position as a Leader underscores our dedication to our customers and our ongoing commitment to innovation,” said Nancy Smith, President and CEO of Analytic Partners. “We appreciate the extensive research Gartner has done in guiding our industry forward. This recognition, we feel, highlights the critical role Commercial Analytics plays in delivering forward-looking decisioning for lasting, meaningful growth.”   

Elevating Insights Beyond MMM and MTA 

Analytic Partners’ longstanding commitment to deliver insights and solutions extends well beyond Multi-Touch Attribution (MTA) and MMM. Analytic Partners’ Commercial Analytics solution integrates all factors driving performance outcomes – including finance, supply chain and other enterprise functions. This holistic, company-wide approach provides a forward-looking decisioning framework that brands rely on to measure both short-term and long-term impact, ensuring sustained growth.

GPS Enterprise: A Powerful Platform for Enabling Growth  

Powered by the GPS Enterprise platform, Commercial Analytics combines data science and technology to deliver actionable insights that enable brands to make proactive, forward-looking commercial decisions. This end-to-end platform, informed by ROI Genome intelligence, ensures streamlined data management, application of advanced analytics and multi-objective optimizations to help brands meet their growth goals.

Recognition extends to Gartner Critical Capabilities Report for MMM Solutions 
The recognition also extends beyond the Magic Quadrant™. In the accompanying Critical Capabilities report for MMM Solutions, Analytic Partners received the highest scores across all 8 Use Cases, including: 

Highest score in Complex Marketing AnalyticsHighest score in Business Scenario PlanningHighest score in Data ManagementHighest score in Media Optimization 

Magic Quadrant reports are a culmination of rigorous, fact-based research in specific markets, providing a wide-angle view of the relative positions of the providers in markets where growth is high, and provider differentiation is distinct. Providers are positioned into four quadrants: Leaders, Challengers, Visionaries and Niche Players. The research enables businesses to get the most from market analysis in alignment with your unique business and technology needs.

To read the full Magic Quadrant™ report, access a complimentary copy here.  

Gartner, Magic Quadrant for Marketing Mix Modeling Solutions, Matt Wakeman, David Walters, Joseph Enever, Weicong Zhao, November 19, 2024

GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally, Magic Quadrant is a registered trademark of Gartner, Inc. and/or its affiliates and is used herein with permission. All rights reserved.

Gartner does not endorse any vendor, product or service depicted in its research publications and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s Research & Advisory organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

About Analytic Partners  

Analytic Partners is the leader in Commercial Analytics, providing adaptive solutions for deeper business understanding, right-time planning and optimization for marketing and beyond. We turn data into expertise so our customers can create powerful connections with their customers and achieve commercial success. For more information, visit analyticpartners.com.

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SOURCE Analytic Partners

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Times Higher Education’s Inaugural ‘Interdisciplinary Science Rankings 2025’: KIIT Ranked 4th Best in India, 92nd in the World

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BHUBANESHWAR, India, Nov. 26, 2024 /PRNewswire/ — KIIT-DU (https://kiit.ac.in/) has secured an impressive 4th position in India in the inaugural Times Higher Education (THE) Interdisciplinary Science Rankings 2025, which recognizes universities excelling in interdisciplinary scientific research. Notably, only four Indian universities—both private and public—feature among the top 100 universities globally, and KIIT is one of them, ranking 92nd worldwide.

India has a strong representation in the rankings released recently, with 65 universities featuring in it, including seven in the top 100. Notably, Anna University leads among Indian institutions and has secured the 41st position globally.

This recognition underscores KIIT University’s commitment to fostering interdisciplinary research and innovation. Among Indian institutions, KIIT stands as one of the top performers, contributing significantly to the nation’s presence in the global interdisciplinary science landscape.

Dr. Achyuta Samanta, Founder, KIIT & KISS, lauded the historic achievement and said: “KIIT’s position among interdisciplinary scientific research universities reflects its enormous contribution towards research and development over the decades.” Despite being just a 27-year-old institute and a 21-year-old deemed to be university, KIIT has achieved this milestone through the dedicated efforts of its researchers and staff, who have made this possible through their quality research, innovation, and publications. He congratulated the faculty fraternity of KIIT-DU, staff members and the students for the unique achievement.

Photo: https://mma.prnewswire.com/media/2567408/KIIT_University.jpg
Logo: https://mma.prnewswire.com/media/2234144/5048235/KIIT_Logo.jpg

 

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SOURCE KIIT

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Harbour City Shopping Mall Launches Hong Kong’s Iconic Outdoor Lighting Display, Tatsuya Tanaka’s Miniature Art Exhibition and Peko’s Candy House this Christmas

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HONG KONG, Nov. 26, 2024 /PRNewswire/ — Harbour City, the largest shopping mall in Hong Kong, has been one of the must-visit destinations during the Christmas season with the impressive scale of festive displays, attracting thousands of tourists and locals to embrace the holiday spirit. This Christmas, Harbour City continues to captivate visitors with two stunning displays: “The Big Little Christmas”, in collaboration with renowned Japanese miniature photographer and Mitate artist Tatsuya Tanaka for his first Christmas-themed art project; and “A Milky Christmas”, a delightful display designed for kids and families featuring the beloved Japanese character Peko, running until 1 January 2025. 

 

 

 

 “The Big Little Christmas” — MINIATURE LIFE by Tatsuya Tanaka x Harbour City

Harbour City collaborates with Tatsuya Tanaka to celebrate Christmas with a large-scale outdoor display and an art exhibition. The display features a 28-meter-long Santa Claus work desk at the Ocean Terminal Forecourt, where five of Tanaka’s festive miniature scenes are brought to life on a grand scale, including a striking 5-meter-high cabin made from stacked books, and a towering 10-meter Christmas tree adorned with a Santa hat. The “Countdown to Mini-mas” Art Exhibition unveils Tanaka’s 25 Christmas artworks, allowing everyone to experience his work up close.

To enhance the celebration, Harbour City invited rising Japanese star Kōki to attend the lighting ceremony, joining Tanaka as officiating guests. Magnificent pyrotechnic displays enchanted audiences with their stunning visual spectacle.

“A Milky Christmas” — Peko & Poko x Harbour City

In addition to the artsy Christmas display, Harbour City surprises everyone with a collaboration featuring the popular character FUJIYA Peko & Poko from Japan, bringing the sweet holiday event “A Milky Christmas”. A giant milk-box-shaped candy house is set with the two adorable characters. Fans can also visit the first FUJIYA Peko Pop-Up Store selling nearly 200 exclusive merchandise, adding a sweet surprise to this holiday!

#harbourcity #hcxmas #hcart @harbourcity

Customer Enquiry: (852) 2118 8666   |   Website: www.harbourcity.com.hk

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SOURCE Harbour City Estates Limited

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