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ETC Announces Third Quarter 2006 ResultsWaukesha, WI -- October 30, 2006 For Further Information contact: Dean Danner, President
Boni Danner, Vice President
(262) 542-5600 * http://www.etcia.com
WAUKESHA, WISCONSIN, October 30, 2006 OTC – Pink Sheets ELECTRONIC TELE-COMMUNICATIONS, INC. Symbol - ETCIA Electronic Tele-Communications, Inc.
(ETC) today reported its third quarter 2006 results. Sales for the quarter
were $507,038 compared to $618,772 for the 2005 third quarter. The net
loss was $170,809 or $0.07 per Class A common share, compared to a net
loss of $168,888 or $0.07 per Class A common share for the third quarter
of 2005. - MORE -
Electronic Tele-Communications, Inc.
Statements of Operations:
(unaudited) (unaudited)
Three Months Ended Nine Months Ended
September 30 September 30
2006 2005 2006 2005
Net sales 507,038 618,772 1,806,406 2,015,543
Cost of products sold 314,976 388,095 1,079,257 1,275,492
Gross profit 192,062 230,677 727,149 740,051
Operating expenses:
General and administrative 118,524 155,416 386,908 481,574
Marketing and selling 104,986 161,639 360,049 557,582
Research and development 118,628 81,611 260,011 236,538
342,138 398,666 1,006,968 1,275,694
Earnings (loss) from operations (150,076) (167,989) (279,819) (535,643)
Other income (expense) (20,733) (899) (31,230) (899)
Earnings (loss) before
income taxes (170,809) (168,888) (311,049) (536,542)
Income taxes 0 0 0 0
Net earnings (loss) (170,809) (168,888) (311,049) (536,542)
Basic and diluted earnings (loss) per share:
Class A common (0.07) (0.07) (0.12) (0.21)
Class B common (0.07) (0.07) (0.12) (0.21)
Weighted average shares outstanding
for basic and diluted 2,509,147 2,509,147 2,509,147 2,509,147
Selected Balance Sheet Data:
(unaudited)
Sep 30 Dec 31
2006 2005
Current assets 809,915 983,309
Total assets 910,856 1,217,790
Current liabilities 932,096 845,619
Total liabilities 1,001,747 997,631
Stockholders' equity (90,891) 220,159
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