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