EXHIBIT 99.5 - PRESS RELEASE ISSUED AUGUST 15, 1997
PRESS RELEASE
ELECTRONIC SYSTEMS TECHNOLOGY
415 N. QUAY STREET
KENNEWICK, WA 99336
509-735-9092 (O)
509-783-5475 (FAX)
EST ANNOUNCES 2nd QUARTER 1997 FINANCIAL INFORMATION
KENNEWICK, WASHINGTON --- August 15, 1997 --- Electronic Systems Technology
Inc. (EST) (OTC: ELST), a manufacturer of wireless modems, today
announced sales and results of operations for the three and six month
periods ended June 30, 1997.
EST reported sales for the second quarter 1997, of $230,866 compared to
$293,704 for the same quarter in 1996. Net income was $3,004, or $0.0005
per share, compared with net income of $62,851, or $0.01 per share, for the
second quarter of 1996. For the six month period, EST reported net income
of $22,696 or $0.004 per share on sales of $546,894 compared with net income
of $118,162 or $0.02 per share on sales of $645,760 for the same period in
1996.
Selected Statement of Operations Information
(Unaudited)
Three Months Ended Six Months Ended
June 30, June 30, June 30, June 30,
1997 1996 1997 1996
-------- -------- -------- --------
Sales $ 230,866 293,704 $ 546,894 645,760
Net income before tax 4,554 95,229 34,389 180,848
Net Income 3,004 62,851 22,696 118,162
Weighted average common
shares outstanding 5,469,897 5,463,948 5,469,897 5,463,948
Earnings per Share $ 0.0005 $ 0.01 $ 0.004 0.02
Selected Balance Sheet Information
(Unaudited)
June 30, December 31,
1997 1996
-------- -----------
Cash and cash equivalents $1,378,899 $1,413,182
Total current assets 1,947,597 1,892,302
Property & equipment (net) 138,932 141,210
Total assets 2,095,827 2,042,709
Total current liabilities 110,735 30,775
Long-term debt -0- -0-
Stockholders' equity 1,985,092 2,011,934
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.
www.esteem.com
APPENDIX:
Item no. 1: (graphic material not included in electronic filing format)
The press release was published showing at top left of the press release,
the Electronic Systems Technology, Inc. trademarked company logo, showing
a black square field containing the stylized letters E S T.