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ETC Announces First Quarter 2005 ResultsWaukesha, WI -- April 27, 2005 For Further Information contact: Dean Danner, President
Jeff Nigl, Chief Financial Officer
(262) 542-5600 * http://www.etcia.com
WAUKESHA, WISCONSIN, April 27, 2005 OTC Bulletin Board ELECTRONIC TELE-COMMUNICATIONS, INC. Symbol - ETCIA Electronic Tele-Communications, Inc.
(ETC) today reported its first quarter 2005 results. Sales for the quarter
were $749,333 compared to $816,673 for the 2004 first quarter. This
yielded a net loss for the quarter of $170,703 or $0.07 per Class A common
share, compared to a loss of $95,050 or $0.04 per share for the first
quarter of 2004. Electronic Tele-Communications, Inc.
Statements of Operations:
(unaudited)
Three Months Ended
March 31
2005 2004
Net sales 749,333 816,673
Cost of products sold 472,780 452,386
Gross profit 276,553 364,287
Operating expenses:
General and administrative 161,018 163,835
Marketing and selling 200,704 185,893
Research and development 85,534 107,518
447,256 457,246
Earnings (loss) from operations (170,703) (92,959)
Other income (expense) 0 (1,091)
Earnings (loss) before
income taxes (170,703) (94,050)
Income taxes 0 1,000
Net earnings (loss) (170,703) (95,050)
Basic and diluted earnings (loss) per share:
Class A common (0.07) (0.04)
Class B common (0.07) (0.04)
Weighted average shares outstanding
for basic and diluted 2,509,147 2,509,147
Selected Balance Sheet Data:
Mar 31 Dec 31
2005 2004
Current assets 1,191,446 1,446,212
Total assets 2,286,044 2,567,991
Current liabilities 343,035 732,111
Total liabilities 798,214 909,458
Stockholders' equity 1,487,830 1,658,533
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