$ELSE
ELECTRO SENSORS INC

2020 Q2 Form 10-Q Financial Statement

#000089710120000673 Filed on August 13, 2020

View on sec.gov

Income Statement

Concept 2020 Q2 2019 Q2
Revenue $2.092M $2.260M
YoY Change -7.43% 26.97%
Cost Of Revenue $994.0K $1.025M
YoY Change -3.02% 26.86%
Gross Profit $1.098M $1.235M
YoY Change -11.09% 27.06%
Gross Profit Margin 52.49% 54.65%
Selling, General & Admin $883.0K $934.0K
YoY Change -5.46% 13.21%
% of Gross Profit 80.42% 75.63%
Research & Development $196.0K $213.0K
YoY Change -7.98% -4.05%
% of Gross Profit 17.85% 17.25%
Depreciation & Amortization $90.00K $70.00K
YoY Change 28.57% -12.5%
% of Gross Profit 8.2% 5.67%
Operating Expenses $1.079M $1.147M
YoY Change -5.93% 9.55%
Operating Profit $19.00K $88.00K
YoY Change -78.41% -217.33%
Interest Expense $0.00 $40.00K
YoY Change -100.0% 100.0%
% of Operating Profit 0.0% 45.45%
Other Income/Expense, Net $0.00 $43.00K
YoY Change -100.0% 59.26%
Pretax Income $19.00K $131.0K
YoY Change -85.5% -372.92%
Income Tax $1.000K $28.00K
% Of Pretax Income 5.26% 21.37%
Net Earnings $18.00K $103.0K
YoY Change -82.52% -339.53%
Net Earnings / Revenue 0.86% 4.56%
Basic Earnings Per Share $0.01 $0.03
Diluted Earnings Per Share $0.01 $0.03
COMMON SHARES
Basic Shares Outstanding 3.396M shares 3.396M shares
Diluted Shares Outstanding 3.396M shares 3.396M shares

Balance Sheet

Concept 2020 Q2 2019 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $9.050M $8.777M
YoY Change 3.11% 3.08%
Cash & Equivalents $2.262M $1.025M
Short-Term Investments $6.790M $7.752M
Other Short-Term Assets $163.0K $155.0K
YoY Change 5.16% 24.0%
Inventory $1.735M $1.712M
Prepaid Expenses
Receivables $1.050M $1.295M
Other Receivables $20.00K $0.00
Total Short-Term Assets $12.02M $11.94M
YoY Change 0.68% 6.91%
LONG-TERM ASSETS
Property, Plant & Equipment $1.024M $1.065M
YoY Change -3.85% 0.38%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $220.0K $200.0K
YoY Change 10.0% 11.11%
Total Long-Term Assets $1.599M $1.725M
YoY Change -7.3% -10.39%
TOTAL ASSETS
Total Short-Term Assets $12.02M $11.94M
Total Long-Term Assets $1.599M $1.725M
Total Assets $13.62M $13.66M
YoY Change -0.33% 4.37%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $144.0K $241.0K
YoY Change -40.25% 57.52%
Accrued Expenses $632.0K $555.0K
YoY Change 13.87% 19.61%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $10.00K $10.00K
YoY Change 0.0%
Total Short-Term Liabilities $780.0K $833.0K
YoY Change -6.36% 35.01%
LONG-TERM LIABILITIES
Long-Term Debt $20.00K $20.00K
YoY Change 0.0%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $15.00K $21.00K
YoY Change -28.57%
TOTAL LIABILITIES
Total Short-Term Liabilities $780.0K $833.0K
Total Long-Term Liabilities $15.00K $21.00K
Total Liabilities $800.0K $854.0K
YoY Change -6.32% 37.74%
SHAREHOLDERS EQUITY
Retained Earnings $10.45M $10.41M
YoY Change 0.4% 3.04%
Common Stock $2.034M $2.363M
YoY Change -13.92% 0.6%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $12.82M $12.81M
YoY Change
Total Liabilities & Shareholders Equity $13.62M $13.66M
YoY Change -0.33% 4.37%

Cashflow Statement

Concept 2020 Q2 2019 Q2
OPERATING ACTIVITIES
Net Income $18.00K $103.0K
YoY Change -82.52% -339.53%
Depreciation, Depletion And Amortization $90.00K $70.00K
YoY Change 28.57% -12.5%
Cash From Operating Activities $170.0K $60.00K
YoY Change 183.33% -62.5%
INVESTING ACTIVITIES
Capital Expenditures -$10.00K -$10.00K
YoY Change 0.0% -66.67%
Acquisitions
YoY Change
Other Investing Activities -$5.750M $20.00K
YoY Change -28850.0% 0.0%
Cash From Investing Activities -$5.760M $10.00K
YoY Change -57700.0% 0.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 0.000
YoY Change
NET CHANGE
Cash From Operating Activities 170.0K 60.00K
Cash From Investing Activities -5.760M 10.00K
Cash From Financing Activities 0.000 0.000
Net Change In Cash -5.590M 70.00K
YoY Change -8085.71% -58.82%
FREE CASH FLOW
Cash From Operating Activities $170.0K $60.00K
Capital Expenditures -$10.00K -$10.00K
Free Cash Flow $180.0K $70.00K
YoY Change 157.14% -63.16%

Facts In Submission

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us-gaap Nature Of Operations
NatureOfOperations
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Nature of Business </span></p> <p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;"> </span></p> <p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Electro-Sensors, Inc. manufactures and markets a complete line of monitoring and control systems for a variety of industrial machinery. The Company uses leading-edge technology to continuously improve its products, with the ultimate goal of manufacturing the industry-preferred product for every market served. The Company sells these products through an internal sales staff, manufacturers’ representatives, and distributors to a wide variety of industries that use the products in a variety of applications to monitor process machinery operations. The Company markets its products to customers located throughout the United States, Canada, Latin America, Europe, and Asia.</span></p>
CY2020Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
11000 USD
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P3Y
us-gaap Use Of Estimates
UseOfEstimates
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Use of Estimates</span></p> <p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;"> </span></p> <p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. Significant estimates, including the underlying assumptions, consist of economic lives of long-lived assets, realizability of trade receivables, valuation of deferred tax assets/liabilities, inventory, investments, stock compensation expense, and the potential estimated impact on operations due to the COVID-19 pandemic as it relates to disruptions to our supply chain and customer demand. It is at least reasonably possible that these estimates may change in the near term</span>.</span></p>
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
332500 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
332500 shares
CY2020Q2 us-gaap Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
6802000 USD
CY2020Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
12000 USD
CY2020Q2 us-gaap Available For Sale Securities
AvailableForSaleSecurities
6790000 USD
CY2019Q4 us-gaap Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
54000 USD
CY2019Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
9000 USD
CY2019Q4 us-gaap Available For Sale Securities
AvailableForSaleSecurities
45000 USD
CY2019Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
45000 USD
CY2018Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
45000 USD
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Period Increase Decrease
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPeriodIncreaseDecrease
-3000 USD
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Period Increase Decrease
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPeriodIncreaseDecrease
0 USD
CY2020Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
42000 USD
CY2019Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
45000 USD
CY2020Q2 us-gaap Inventory Raw Materials
InventoryRawMaterials
962000 USD
CY2019Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
973000 USD
CY2020Q2 us-gaap Inventory Work In Process
InventoryWorkInProcess
410000 USD
CY2019Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
383000 USD
CY2020Q2 us-gaap Inventory Finished Goods
InventoryFinishedGoods
383000 USD
CY2019Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
359000 USD
CY2020Q2 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
20000 USD
CY2019Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
20000 USD
CY2020Q2 us-gaap Inventory Net
InventoryNet
1735000 USD
CY2019Q4 us-gaap Inventory Net
InventoryNet
1695000 USD

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