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ETC Announces Fourth Quarter 2006 ResultsWaukesha, WI -- March 9, 2007 For Further Information contact: Dean Danner, President
Boni Danner, Vice President
(262) 542-5600 * http://www.etcia.com
WAUKESHA, WISCONSIN, March 9, 2007 OTC – Pink Sheets ELECTRONIC TELE-COMMUNICATIONS, INC. Symbol - ETCIA Electronic Tele-Communications, Inc.
(ETC) today reported its fourth quarter and year end 2006 results. Sales
for the quarter were $516,611 compared to $673,726 for the 2005 fourth
quarter. The net loss was $53,664 or $0.02 per Class A common share,
compared to a net loss of $901,832 or $0.36 per Class A common share for
the fourth quarter of 2005. Sales for the 2006 year were $2,323,017,
compared to 2005 sales of $2,689,269. The loss for 2006 was $364,693 or
$0.15 per Class A Share, compared to a loss of $1,438,374 or $0.58 per
Class A share for 2005. Included in both the fourth quarter and year end
numbers for 2005 is an impairment adjustment to goodwill of $790,596 or
$0.32 per class A common share. - MORE -
Electronic Tele-Communications, Inc.
Statements of Operations:
(unaudited) (unaudited)
Three Months Ended Twelve Months Ended
December 31 December 31
2006 2005 2006 2005
Net sales 516,611 673,726 2,323,017 2,689,269
Cost of products sold 336,921 424,233 1,416,178 1,699,725
Gross profit 179,690 249,493 906,839 989,544
Operating expenses:
General and administrative 125,141 145,780 512,049 627,354
Marketing and selling 114,261 142,826 474,310 700,408
Research and development 4,172 69,981 264,183 306,519
Impairment of Goodwill 0 790,596 0 790,596
243,574 1,149,183 1,250,542 2,424,877
Earnings (loss) from operations (63,884) (899,690) (343,703)(1,435,333)
Other income (expense) 10,240 (2,142) (20,990) (3,041)
Earnings (loss) before
income taxes (53,644) (901,832) (364,693)(1,438,374)
Income taxes 0 0 0 0
Net earnings (loss) (53,644) (901,832) (364,693)(1,438,374)
Basic and diluted earnings (loss) per share:
Class A common (0.02) (0.36) (0.15) (0.58)
Class B common (0.02) (0.36) (0.15) (0.58)
Weighted average shares outstanding
for basic and diluted 2,509,147 2,509,147 2,509,147 2,509,147
Selected Balance Sheet Data:
Dec 31 Dec 31
2006 2005
Current assets 742,452 983,309
Total assets 893,529 1,217,790
Current liabilities 911,406 908,958
Total liabilities 1,038,063 997,631
Stockholders' equity (deficit) (144,534) 220,159
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