EXHIBIT 99.6 - PRESS RELEASE ISSUED AUGUST 14, 1998
PRESS RELEASE
ELECTRONIC SYSTEMS TECHNOLOGY
415 N. QUAY STREET
KENNEWICK, WA 99336
509-735-9092 (O)
509-783-5475 (FAX)
EST ANNOUNCES 2nd QUARTER 1998 FINANCIAL INFORMATION
KENNEWICK, WASHINGTON --- August 14, 1998 --- 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, 1998.
EST reported sales for the second quarter 1998, of $307,902 compared to
$230,866 for the same quarter in 1997. Net income was $13,615, or $0.002
per share, compared with net income of $3,004, or $0.0005 per share, for the
second quarter of 1997. For the six month period, EST reported net income
of $72,276 or $0.013 per share on sales of $717,116 compared with net income
of $22,696 or $0.004 per share on sales of $546,894 for the same period in
1997.
Selected Statement of Operations Information
(Unaudited)
Three Months Ended Six Months Ended
June 30, June 30, June 30, June 30,
1998 1997 1998 1997
-------- -------- -------- --------
Sales $ 307,902 230,866 $ 717,116 546,894
Net income before tax 20,628 4,554 109,510 34,389
Net Income 13,615 3,004 72,276 22,696
Weighted average common
shares outstanding 5,590,530 5,469,897 5,590,530 5,469,897
Basic Earnings per Share $ 0.002 0.00 $ 0.013 0.004
Diluted Earnings per Share $ 0.002 0.00 $ 0.013 0.004
Selected Balance Sheet Information
(Unaudited)
June 30, December 31,
1998 1997
-------- -----------
Cash and cash equivalents $1,678,217 $1,466,760
Total current assets 2,135,088 2,065,479
Property & equipment (net) 127,464 132,924
Total assets 2,268,671 2,205,811
Total current liabilities 117,333 77,213
Long-term debt -0- -0-
Stockholders' equity 2,151,338 2,128,598
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.