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.
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.
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