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Electro-Sensors, Inc. Announces 2024 Year-End Financial Results

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MINNETONKA, Minn., March 19, 2025 /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, 2024.

Annual revenue of $9.4 million, up 9.6% over prior yearGross Margin of 48.9%Cash and investments of $10.0 million

Table in thousands, except per share data

FY24

FY23

Change

Net Sales

$

9,373

$

8,555

9.6

%

Gross Margin

48.9

%

49.6

%

(70)

bps

Operating Income (Loss)

$

(4)

$

(28)

85.7

%

Operating Income (Loss) Margin

(0.0)

%

(0.4)

%

40

bps

Income Before Income Taxes

$

436

$

378

15.3

%

Earnings Per Share (diluted)

$

0.13

$

0.08

62.5

%

Net sales during 2024 increased 9.6% to $9,373,000 from $8,555,000 in the prior year.  The increase in net sales was largely driven by higher sales of HazardPRO wireless sensors in agricultural applications.  International sales increased slightly to 11.5% of net sales compared to 10.3% of net sales for the prior year.

“We are pleased to have achieved record annual revenue in 2024,” said David L. Klenk, Electro-Sensors’ president.  “We experienced growth in both our wired and wireless product families, with sales of HazardPROTM wireless products growing at a somewhat faster rate than our traditional wire-based products.

A full analysis of results for the year ended December 31, 2024 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.

Electro-Sensors, Inc.

Statements of Income

For the Years Ended December 31, 2024 and 2023

(in thousands except share and per share amounts)

 

Years Ended December 31,

2024

2023

Net sales

$

9,373

$

8,555

Cost of goods sold

4,791

4,310

Gross profit

4,582

4,245

Operating expenses

4,586

4,273

Operating loss

(4)

(28)

Non-operating income, net

440

406

Income before income taxes

436

378

Income tax expense (benefit)

(10)

103

Net income

$

446

$

275

Earnings per share – diluted

$

0.13

$

0.08

Average shares outstanding – diluted

3,435,040

3,428,021

 

Electro-Sensors, Inc.

Balance Sheets

December 31, 2024 and 2023

(in thousands)

 

December 31

2024

2023

Assets

Current Assets

Cash and investments

$

10,004

$

9,926

Trade receivables, net

1,309

1,283

Inventories

1,964

1,751

Other current assets

197

179

Total current assets

13,474

13,139

Deferred income tax asset

501

355

Property and equipment, net

910

951

Total assets

$

14,885

$

14,445

Liabilities and Stockholders’ Equity

Current Liabilities

Accounts payable and accrued expenses

$

552

$

690

Total current liabilities

552

690

Stockholders’ equity

Common stock

344

342

Additional paid-in capital

2,360

2,230

Retained earnings

11,629

11,183

Total stockholders’ equity

14,333

13,755

Total liabilities and stockholders’ equity

$

14,885

$

14,445

2025 Annual Meeting of Shareholders

Our Annual Meeting will be held via live webcast on April 23, 2025 at 2:00 PM Central Time at www.virtualshareholdermeeting.com/ELSE2025.  Please retain a copy of the 16 digit Control Number that is printed on your proxy card as you will need it to enter the Annual Meeting as a verified shareholder.   Shareholders will be able to vote in this virtual meeting as if they were attending an in-person meeting.  Shareholders may submit questions prior to the start of the meeting at https://www.electro-sensors.com/about/investor-info under Investor Contact – Email Gloria.

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

View original content:https://www.prnewswire.com/news-releases/electro-sensors-inc-announces-2024-year-end-financial-results-302406304.html

SOURCE Electro-Sensors, Inc.

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Moomoo Malaysia Recognised for Fintech Innovation at Malaysia Technology Excellence Awards 2025

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The award-winning digital brokerage is recognised for its AI-powered trading tools, seamless global market access, and institutional-grade tools and resources for retail investors.

KUALA LUMPUR, Malaysia, April 4, 2025 /PRNewswire/ — Moomoo Securities Malaysia Sdn. Bhd. (Moomoo Malaysia) has been recognised for its cutting-edge innovations in financial technology, winning two awards – Fintech – Brokerage and Fintech – Financial Technology at the Malaysia Technology Excellence Awards 2025. The MTEA awards recognizes companies at the forefront of technological innovation, honouring those that drive digital transformation and set new benchmarks in their respective industries.

“Winning these awards within our first year of operation is incredibly encouraging. It demonstrates that our technology-first approach – powered by AI and advanced analytics – is resonating strongly with Malaysian investors. We’ve always believed technology should simplify and democratise investing. Our growth to over 500,000 users in less than a year, becoming Malaysia’s No. 1 financial app by downloads and daily active users lets us know we’re on the right track.” said Indy Lau, Chief Operating Officer of Moomoo Malaysia.

Moomoo Malaysia was recognized specifically for its innovation in brokerage and financial technology. The digital brokerage stands out by integrating institutional-level analytics, AI-driven trading features, and seamless global market connectivity within a single, user-friendly platform. Among the innovative features Moomoo Malaysia introduced are Malaysia’s first fully digital in-app IPO subscription service and a proprietary AI-powered Candlestick Chart Analysis tool, providing retail investors with real-time insights and market intelligence. It is also the first licensed brokerage in Malaysia to offer direct retail access to U.S. options trading.

Empowering Smarter Investing

Beyond technological advancements, Moomoo Malaysia is committed to improving financial literacy among Malaysian investors through its Moo Learn initiative. With more than 700 free educational resources available, including webinars and interactive tutorials, the platform has accumulated over 2.7 million views, reflecting the strong local demand for accessible financial education. The platform’s Moo Community with a robust community of over 25 million investors provides a vibrant space for investors to exchange insights and learn collaboratively.

Ivan Mok, CEO of Moomoo Malaysia, emphasised the company’s mission: “Our vision goes beyond trading; we want to reshape financial literacy and empower Malaysians through technology-driven investment resources and education. Recognition from the Malaysia Technology Excellence Awards reaffirms our commitment to continue innovating and delivering value to every Malaysian investor.”

Since launching in February 2024, Moomoo Malaysia has rapidly grown to become the No. 1 trading app* by downloads and DAU, surpassing over 500,000 users within one year. The company continues to expand its offerings, providing Malaysian investors with seamless global access, intelligent market insights, automation-driven trading tools, and education-led investing experiences.

For more information, visit www.moomoo.com/my.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/moomoo-malaysia-recognised-for-fintech-innovation-at-malaysia-technology-excellence-awards-2025-302420634.html

SOURCE Moomoo Malaysia

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transcosmos signs collaboration agreement with Miyoshi City, Hiroshima towards DX in local government

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Aims to create a sustainable management model for local governments

TOKYO, April 4, 2025 /PRNewswire-PRWeb/ — transcosmos hereby announces that on March 26, 2025, the company signed a collaboration agreement with Miyoshi City, Hiroshima Prefecture, on co-creating a sustainable management model for local governments. Under this agreement, transcosmos will collaborate with, and assist the city in streamlining and boosting productivity of local governments’ administrative operations, promoting work style reform of government employees, discussing the option to use outsourcing, developing digital talent, and ultimately bring about a sustainable management model for local governments that leads to the future.

With a view to realize regional cooperation in the future, transcosmos and Miyoshi City aim to bring about sustainable management for local governments in the whole region in partnership with nearby areas that face similar challenges.

Streamlining business processes and accelerating processing speed as well as promoting employee work style reform are key challenges that must be addressed for local governments to deliver sustainable management. Miyoshi City was faced with similar challenges, yet the city could not create an optimal environment, due to lack of experience and knowledge in streamlining complex administrative tasks as well as a lack of people with digital skills. To help overcome such challenges, transcosmos will provide the city with its DX (Digital Transformation) services designed for local governments that help consolidate administrative functions and achieve BPR (Business Process Reengineering) in local governments. With these services, transcosmos will co-create a sustainable management model for local governments in partnership with Miyoshi City. With a view to realize regional cooperation in the future, transcosmos and Miyoshi City aim to bring about sustainable management for local governments in the whole region in partnership with nearby areas that face similar challenges.

Mr. Satoshi Fukuoka, Mayor of Miyoshi City commented on the collaboration agreement as follows.
“We are delighted to have signed a collaboration agreement with transcosmos. Towards co-creating a sustainable model for local governments with transcosmos, we, Miyoshi City, will take a comprehensive approach with digital technology and people development at the core.”

With its services designed for promoting DX and achieving business process transformation, transcosmos will continue to help local governments deliver sustainable management while contributing to solving challenges in their communities.

transcosmos is a trademark or registered trademark of transcosmos inc. in Japan and other countries.Other company names and product or service names used here are trademarks or registered trademarks of respective companies.

About transcosmos inc.
transcosmos launched its operations in 1966. Since then, we have combined superior “people” with up-to-date “technology” to enhance the competitive strength of our clients by providing them with superior and valuable services. transcosmos currently offers services that support clients’ business processes focusing on both sales expansion and cost optimization through our 182 bases across 35 countries/regions with a focus on Asia, while continuously pursuing Operational Excellence. Furthermore, following the expansion of e-commerce market on the global scale, transcosmos provides a comprehensive One-Stop Global E-Commerce Services to deliver our clients’ excellent products and services to consumers in 46 countries/regions around the globe. transcosmos aims to be the “Global Digital Transformation Partner” of our clients, supporting the clients’ transformation by leveraging digital technology, responding to the ever-changing business environment. Visit us here https://www.trans-cosmos.co.jp/english/

Media Contact

transcosmos inc., transcosmos inc., +81-3-6709-2251, pressroom@trans-cosmos.co.jp, https://www.trans-cosmos.co.jp/english/

View original content to download multimedia:https://www.prweb.com/releases/transcosmos-signs-collaboration-agreement-with-miyoshi-city-hiroshima-towards-dx-in-local-government-302420582.html

SOURCE transcosmos inc.

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Aker Horizons ASA: Notice of Annual General Meeting

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FORNEBU, Norway, April 4, 2025 /PRNewswire/ — The annual general meeting of Aker Horizons ASA (the “Company”) will be held on Wednesday, 30 April 2025 at 13:00 CEST as a virtual meeting. The proposed agenda includes election of members of the Board of Directors.

The meeting will be conducted as a virtual meeting only, accessible online via Lumi AGM. All shareholders will be able to participate in the meeting, vote and ask questions from smartphones, tablets or desktop devices. For further information regarding electronic participation, please refer to the guide available at https://akerhorizons.com/investors/shareholder-center/general-meetings/.

Although no pre-registration is needed for attending online, shareholders that are eligible for attending and voting at the annual general meeting are encouraged to register their attendance no later than 28 April 2025 at 13:00. Deadline for registration of advance votes and proxies is 28 April 2025 at 13:00 CEST.

Please find attached the following documents:

Notice and Proxy form for the Annual General Meeting 2025The Board of Directors’ Proposed Resolutions for the Annual General Meeting 2025Remuneration GuidelinesProposal from the Nomination Committee

All documents to be processed in the meeting are also available at https://akerhorizons.com/investors/shareholder-center/general-meetings/.

For further information:
Investor Relations:
Jonas Gamre
Mobile: +47 97 11 82 92
E-mail: jonas.gamre@akerhorizons.com

Media:
Mats Ektvedt
Mobile: +47 41 42 33 28
E-mail: mats.ektvedt@corporatecommunications.no

About Aker Horizons ASA

Aker Horizons ASA develops green energy and green industry to accelerate the transition to Net Zero. The company is active in renewable energy, carbon capture and sustainable industrial assets. As part of the Aker group, Aker Horizons ASA applies industrial, technological and capital markets expertise with a planet-positive purpose to drive decarbonization globally. Aker Horizons ASA is listed on the Oslo Stock Exchange and headquartered in Fornebu, Norway. Across its portfolio, the company is present on five continents. www.akerhorizons.com

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/aker-horizons/r/aker-horizons-asa–notice-of-annual-general-meeting,c4131059

The following files are available for download:

https://mb.cision.com/Public/20659/4131059/9a73884e105bae00.pdf

Aker Horizons Notice of Annual General Meeting 2025 and Proxy Form

https://mb.cision.com/Public/20659/4131059/94b158cae1591ff2.pdf

The Board of Directors Proposed Resolutions for the Annual General Meeting 2025 79

https://mb.cision.com/Public/20659/4131059/bb76e720ea4e54c3.pdf

Proposal from the Nomination Committee of Aker Horizons ASA to the Annual General Meeting 2025

https://mb.cision.com/Public/20659/4131059/aa653daed8323d32.pdf

Remuneration Guidelines for Aker Horizons ASA

 

View original content:https://www.prnewswire.co.uk/news-releases/aker-horizons-asa-notice-of-annual-general-meeting-302420646.html

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