ElectroSensors Inc. (ELSE, Financial) filed Quarterly Report for the period ended 2010-03-31.
Electrosensors Inc. has a market cap of $13.5 million; its shares were traded at around $4 with and P/S ratio of 2.3. The dividend yield of Electrosensors Inc. stocks is 4%.ELSE is in the portfolios of Jim Simons of Renaissance Technologies LLC.
Research and development costs decreased $22,000, or 13.1%, for the three months ended March 31, 2010 compared to the same period in 2009. Of this decrease, the Production Monitoring Division contributed a decrease of $14,000, or 11.9%, and AutoData Systems Division had a decrease of $8,000, or 16.0%. The decrease in the Production Monitoring Division research and development costs was due to decreased lab testing and legal fees for trademark and patent expenses, offset by an increase in contract engineering. The decrease in the AutoData Systems Division was due to a decrease in wages and benefits.
ESI Investment Company had zero net income (loss) for the three months ended March 31, 2010 compared to an income before income taxes of $3,000 for the same period in 2009, a decrease of $3,000, or 100.0%. This decrease was a result of the lower interest rate available on Treasury Bills in 2010 as compared to 2009 (See Non-Operating Income). However, ESI Investment Company does have approximately $2,907,000 in unrealized gain on the Rudolph Technologies, Inc. investment that is reported in Other Comprehensive Income (See Note 5 Investments in the notes to the accompanying condensed consolidated financial statements).
Cash and cash equivalents were $727,000 at March 31, 2010, $746,000 at December 31, 2009, and $480,000 at March 31, 2009.
Cash used in investing activities was $68,000 and $4,974,000 for the three months ended March 31, 2010 and 2009, respectively. The significant decrease in cash used by investing activities was due to proceeds from the maturity of Treasury Bills in the aggregate amount of $5,048,000 in 2010, while there were no such maturities in 2009.
Cash used in financing activities was $128,000 and $131,000 for the three months ended March 31, 2010 and March 31, 2009, respectively. During the quarter ended March 31, 2010 and 2009, we had $7,000 and $4,000, respectively, in stock purchases under the Employee Stock Purchase Plan. We paid dividends of $135,000 in each quarter.
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Electrosensors Inc. has a market cap of $13.5 million; its shares were traded at around $4 with and P/S ratio of 2.3. The dividend yield of Electrosensors Inc. stocks is 4%.ELSE is in the portfolios of Jim Simons of Renaissance Technologies LLC.
Highlight of Business Operations:
General and administrative costs increased $7,000, or 2.3%, for the three months ended March 31, 2010 compared to the same period in 2009. The Production Monitoring Division had an increase of $9,000, or 3.2%, offset by a decrease in the AutoData Systems Division of $2,000, or 9.5%. The increase in general and administrative costs from the Production Monitoring Division resulted from an increase in stock handling fees due to the printing and filing expenses for year end being recognized in the first quarter of 2010 as opposed to the second quarter during 2009. The decrease in the AutoData Systems Division general and administrative costs was due to a decrease in computer maintenance expenses.Research and development costs decreased $22,000, or 13.1%, for the three months ended March 31, 2010 compared to the same period in 2009. Of this decrease, the Production Monitoring Division contributed a decrease of $14,000, or 11.9%, and AutoData Systems Division had a decrease of $8,000, or 16.0%. The decrease in the Production Monitoring Division research and development costs was due to decreased lab testing and legal fees for trademark and patent expenses, offset by an increase in contract engineering. The decrease in the AutoData Systems Division was due to a decrease in wages and benefits.
ESI Investment Company had zero net income (loss) for the three months ended March 31, 2010 compared to an income before income taxes of $3,000 for the same period in 2009, a decrease of $3,000, or 100.0%. This decrease was a result of the lower interest rate available on Treasury Bills in 2010 as compared to 2009 (See Non-Operating Income). However, ESI Investment Company does have approximately $2,907,000 in unrealized gain on the Rudolph Technologies, Inc. investment that is reported in Other Comprehensive Income (See Note 5 Investments in the notes to the accompanying condensed consolidated financial statements).
Cash and cash equivalents were $727,000 at March 31, 2010, $746,000 at December 31, 2009, and $480,000 at March 31, 2009.
Cash used in investing activities was $68,000 and $4,974,000 for the three months ended March 31, 2010 and 2009, respectively. The significant decrease in cash used by investing activities was due to proceeds from the maturity of Treasury Bills in the aggregate amount of $5,048,000 in 2010, while there were no such maturities in 2009.
Cash used in financing activities was $128,000 and $131,000 for the three months ended March 31, 2010 and March 31, 2009, respectively. During the quarter ended March 31, 2010 and 2009, we had $7,000 and $4,000, respectively, in stock purchases under the Employee Stock Purchase Plan. We paid dividends of $135,000 in each quarter.
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