Electro-Sensors, Inc. (ELSE) has reported an 83.36 percent plunge in profit for the year ended Dec. 31, 2016. The company has earned $0.20 million, or $0.06 a share in the year, compared with $1.21 million, or $0.36 a share for the last year.
Revenue during the year dropped 7.19 percent to $7.09 million from $7.64 million in the previous year. Gross margin for the year contracted 54 basis points over the previous year to 54.80 percent. Total expenses were 97.60 percent of annual revenues, up from 96.20 percent for the last year. That has resulted in a contraction of 140 basis points in operating margin to 2.40 percent.
Operating income for the year was $0.17 million, compared with $0.29 million in the previous year.
"While 2016 was certainly a challenging year due to the many economic pressures and uncertainties experienced by our customers, we remain encouraged that we are very well positioned to capture available opportunities as our markets stabilize," said David L. Klenk, Electro-Sensors' president. "Furthermore, we are excited that our HazardPROTM wireless hazard monitoring system continues to gain momentum and acceptance in the markets we serve.'
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