Electronic Systems Technology Announces 3rd Quarter 2009 Financial Information

Electronic Systems Technology Inc. (EST) (OTCBB: ELST), dba ESTeem Wireless Modems, the manufacturer of the ESTeem product line of wireless modems, today announced sales and results of operations for the three and nine month periods ended September 30, 2009.

EST reported sales for the third quarter of 2009 of $379,269 compared to $606,559 for the same quarter in 2008. Net loss for the third quarter of 2009 was $27,642, or $(0.01) per share, compared with net income of $25,449, or $0.01 per share, for the third quarter of 2008. For the nine-month period, EST recorded a net income of $8,475 or $0.00 per share on sales of $1,351,297 for the nine month period ended September 30, 2009, compared with a net loss of $108,068 or $(0.02) per share on sales of $1,667,605 for the same period in 2008.

Electronic Systems Technology, a publicly held Company since 1984, was the first Company to develop the wireless modem and receive the United States and Canadian patent for this technology. Contact EST for more details.

Selected Statement of Operations Information
(Unaudited)
                                              Three Months Ended                Nine Months Ended
                                              Sept 30           Sept 30         Sept 30         Sept 30
                                              2009              2008            2009            2008
Sales                                         $  379,269        $   606,559     $   1,351,297   $  1,667,605
Income (loss) before tax                         (35,142   )        33,363          4,475          (125,554  )
Net Income (loss)                                (27,642   )        25,449          8,475          (108,068  )
Weighted average common shares outstanding       5,158,667          5,158,667       5,158,667      5,157,660
Basic Earnings (Loss) per share               $  ( 0.01    )    $   0.01        $   0.00        $  ( 0.02    )
Diluted Earning (Loss) per share              $  ( 0.01    )    $   0.01        $   0.00        $  ( 0.02    )

Selected Balance Sheet Information
(Unaudited)
                              Sept 30         December 31
                              2009            2008
Cash and cash equivalents     $   939,181     $     512,800
Total current assets              2,941,466         2,921,713
Property & equipment (net)        80,615            110,722
Total assets                      3,049,721         3,059,875
Total current liabilities         82,357            93,548
Long-term debt                    -0-               -0-
Stockholders' equity              2,942,564         2,931,727

SOURCE: Electronic Systems Technology Inc.

Electronic Systems Technology Inc. 
Jon Correio, 509-735-9092

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