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Electro-Sensors, Inc. Announces Third Quarter 2024 Financial Results

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MINNETONKA, Minn., Nov. 13, 2024 /PRNewswire/ — Electro-Sensors, Inc. (NASDAQ: ELSE), a leading global provider of machine monitoring sensors and hazard monitoring systems, today announced financial results for the third quarter ended September 30, 2024.

Quarterly revenue of $2,512,000, up 22.1% from the prior-year periodGross margin of 50.4%Cash and investments of approximately $10.3 million

Selected Financial Information (unaudited; in thousands, except per share data)

Q3 2024

Q3 2023

Change

Net Sales

$

2,512

$

2,057

22.1

%

Gross Margin

50.4

%

48.3

%

210

bps

Operating Income (Loss)

$

173

$

(26)

765.4

%

Operating Income Margin

6.9

%

(1.2)

%

810

bps

Income Before Income Taxes

$

290

$

83

249.4

%

Earnings Per Share (diluted)

$

0.07

$

0.00

100.0

%

Net sales in the third quarter increased 22.1% to $2,512,000 from $2,057,000 in the prior-year quarter.  For the nine-month period ended September 30, 2024, net sales increased 11.8% to $6,973,000 from $6,239,000 in the comparable prior-year period.  Furthermore, gross margin for the 2024 third quarter was 50.4%, up from 48.6% in the corresponding quarter in 2023.

“Sales during the third quarter increased for both our wired sensor products and our wireless HazardPRO™ products, largely driven by industrial automation and agricultural applications,” said David L. Klenk, Electro-Sensors’ president. “Furthermore, gross margin improved over the prior-year period as our supply chain continued to stabilize, and we benefited primarily from price adjustments implemented earlier in the year.”

A full analysis of results for the period ended September 30, 2024 is available in the Company’s Form 10-Q, which is available on the Company’s website at www.electro-sensors.com or through the Securities and Exchange Commission’s Edgar database at www.sec.gov

Electro-Sensors, Inc.

Statements of Income

For the Three and Nine Months Ended September 30, 2024 and 2023 (unaudited)

(in thousands except share and per share amounts)

Three Months Ended September 30,

2024

2023

Sales

$

2,512

$

2,057

Cost of goods sold

1,247

1,064

Gross profit

1,265

993

Operating expenses

1,092

1,019

Operating income (loss)

173

(26)

Non-operating income, net

117

109

Income before income taxes

290

83

Provision for income taxes

52

75

Net income

$

238

$

8

Earnings per share – diluted

$

0.07

$

0.00

Average shares outstanding – diluted

3,434,417

3,428,021

Nine Months Ended September 30,

2024

2023

Sales

$

6,973

$

6,239

Cost of goods sold

3,581

3,156

Gross profit

3,392

3,083

Operating expenses

3,426

3,203

Operating loss

(34)

(120)

Non-operating income, net

342

296

Income before income taxes

308

176

Provision for income taxes

63

96

Net income

$

245

$

80

Earnings per share – diluted

$

0.07

$

0.02

Average shares outstanding – diluted

3,440,382

3,428,021

 

Electro-Sensors, Inc.

Balance Sheets

September 30, 2024 and December 31, 2023

(in thousands)

September 30,

December 31,

2024

2023

Assets

(unaudited)

Current Assets

Cash and investments

$

10,302

$

9,926

Trade receivables, net

1,182

1,283

Inventories

2,003

1,751

Other current assets

272

179

Total current assets

13,759

13,139

Deferred income tax asset, long-term

287

355

Property and equipment, net

911

951

Total assets

$

14,957

$

14,445

Liabilities and Stockholders’ Equity

Current Liabilities

Accounts payable and accrued expenses

$

859

$

690

Total current liabilities

859

690

Stockholders’ equity

Common stock

342

342

Additional paid-in capital

2,328

2,230

Retained earnings

11,428

11,183

Total stockholders’ equity

14,098

13,755

Total liabilities and stockholders’ equity

$

14,957

$

14,445

About Electro-Sensors

Electro-Sensors, Inc. is an industry leading designer and manufacturer of rugged and reliable machine monitoring sensors and wireless/wired hazard monitoring systems applied across multiple industries and applications. These products improve processes by protecting people, safeguarding systems, reducing downtime, and preventing waste. Electro-Sensors is proud to be an ISO9001:2015 quality certified company and is committed to providing excellent customer service and technical support. Founded in 1968 and located in Minnetonka, Minnesota, Electro-Sensors provides its loyal customers with reliable products that improve safety and help plants operate with greater efficiency, productivity and control.

Cautionary Statement Regarding Forward Looking Statements

This press release may include statements about possible or anticipated future financial performance, business activities, plans, or opportunities.  These forward-looking statements may include the words “will,” “should,” “believes,” “expects,” “anticipates,” “intends” or similar expressions.  For these forward-looking statements, the Company claims the protection of the safe harbor for forward−looking statements contained in federal securities laws.  Forward-looking statements reflect the company’s current views with respect to future events and financial performance and include any statement that does not directly relate to a current or historical fact.  These forward-looking statements are subject to a number of factors, risks and uncertainties, including those disclosed in our periodic filings with the SEC that could cause actual performance, activities, plans, or opportunities after the date the statements are made to differ significantly from those indicated in the forward-looking statements.

For more information please visit our website at: www.electro-sensors.com. Also look us up on:
LinkedIn: linkedin.com/company/electro-sensors-inc-
X: x.com/ESIsensors
Facebook: facebook.com/ElectroSensors

 

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SOURCE Electro-Sensors, Inc.

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From China Mobile’s Call Upgrade to the Commercial Launch of “Calling + AI” by Leading Operators: AI Is Reshaping the Value of Native Calling

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BEIJING, July 25, 2026 /PRNewswire/ — On June 15, 2026, China Mobile announced a comprehensive upgrade to its traditional calling services, ushering in a next-generation calling experience defined by HD, intelligence, and security. This milestone not only marks a major leap in telecommunication innovation but also reflects a global, inevitable shift: the transformation of basic communication into intelligent, inclusive services.

Breaking Experience Barriers and Redefining the Paradigm of Basic Calling

Overcoming the limitations of traditional, voice-only interactions, China Mobile has leveraged its mature VoLTE/VoNR network foundation to deeply integrate AI models with HD audio and video capabilities. Without requiring users to change their phones or SIM cards, seven core AI functions are now seamlessly embedded into the native dialer interface.

These upgrades include Live Captions bridge communication gaps for the elderly and hearing-impaired; HD video calls and AI noise reduction create a crystal-clear, immersive calling experience; AI anti-fraud intercepts high-risk calls in real time to safeguard users’ assets. Furthermore, the introduction of Data Channel (DC) technology and visual call menus transforms standard calls into agile, interactive service windows, enabling multi-party collaboration and seamless business transactions directly within the call. Through this initiative, China Mobile has successfully evolved traditional calls from a mere voice pipeline into a secure, integrated information hub.

“Calling + AI” Becomes a Strategic Consensus Among Global Leading Operators

From a global perspective, China Mobile’s call upgrade is not an isolated milestone, but a microcosm of the global telecommunications industry’s broader transformation. Throughout 2026, major operators worldwide are accelerating the commercial deployment of “Calling + AI” solutions:

Deutsche Telekom launched Magenta AI, leveraging artificial intelligence to enhance calling across all scenarios;T-Mobile US introduced a network-side, real-time translation service covering over 80 languages, effectively breaking down cross-border communication barriers;Saudi stc rolled out English-Arabic bilingual simultaneous interpretation, which has now entered large-scale commercial trials;South Korea’s LG U+ launched its ixi-O intelligent calling assistant, shifting the user experience from passive responses to proactive smart interactions and earning three prestigious GLOMO industry awards.

The synchronized efforts of these global leaders confirm that basic calling services have officially entered a new era of AI integration. Deeply empowered by artificial intelligence, “Calling + AI” has become the definitive blueprint for the intelligent transformation of the global telecommunications industry. As operators continue to refine these native capabilities, the traditional voice network is poised to reclaim its position as the most secure, ubiquitous, and valuable entry point in the AI era.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/from-china-mobiles-call-upgrade-to-the-commercial-launch-of-calling–ai-by-leading-operators-ai-is-reshaping-the-value-of-native-calling-302834622.html

SOURCE China Mobile

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Trip.com Group Sincerely Accepts Administrative Penalty Decision Issued by the State Administration for Market Regulation of the People’s Republic of China

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SINGAPORE, July 25, 2026 /PRNewswire/ — Trip.com Group Limited (Nasdaq: TCOM; HKEX: 9961) today announced that it has received the administrative penalty decision issued by the State Administration for Market Regulation of the People’s Republic of China.

Trip.com Group sincerely accepts the decision and will adopt rectification measures in accordance with applicable laws and regulations to implement the decision’s requirements. The Company will strengthen its long-term governance mechanisms and strive to contribute to the sustainable development of the travel industry.

Trip.com Group’s management team will host a conference call at 8:00 AM U.S. Eastern Time on July 27, 2026 (or 8:00 PM Hong Kong Time on July 27, 2026).

The conference call will be available on Webcast live at: http://investors.trip.com.

All participants must pre-register to join this conference call using the participant registration link below:
https://register-conf.media-server.com/register/BIb78e08d8f18340c4882a7e4ab961906b.

Upon registration, each participant will receive details for this conference call, including dial-in numbers and a unique access PIN. To join the conference, please dial the number provided, enter your PIN, and you will join the conference instantly.

For further information, please contact:
Investor Relations
Trip.com Group Limited
Email: iremail@trip.com

View original content:https://www.prnewswire.com/news-releases/tripcom-group-sincerely-accepts-administrative-penalty-decision-issued-by-the-state-administration-for-market-regulation-of-the-peoples-republic-of-china-302834599.html

SOURCE Trip.com Group Limited

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NAVER Partners with Brookfield and NVIDIA to Expand Korea’s National AI Factory Infrastructure Buildout

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SAN FRANCISCO, July 25, 2026 /PRNewswire/ — NAVER, Brookfield and NVIDIA announced an expansion of Korea’s sovereign AI factory infrastructure. New investments will increase the initial NVIDIA DSX™ AI factory deployment from 55 megawatts to 200 megawatts.

Announced during Korea President Jae Myung Lee’s AI Summit visit to San Francisco, the planned 200-megawatt expansion will be built with the NVIDIA DSX platform at NAVER’s GAK Sejong hyperscale data center in Sejong, South Korea. The expanded infrastructure will provide Korea- and U.S.- based AI innovators with access to production-scale AI compute for building next-generation models, agents and AI-powered services.

Under the terms of the agreements, Brookfield will fund up to $9 billion as the exclusive capital partner, NVIDIA will invest $1 billion and NAVER will fund the remaining amount to finance the $10 billion project.

This builds on NAVER’s June announcement to extend its GAK Sejong data center with NVIDIA DSX, with a long-term path to gigawatt-scale sovereign AI infrastructure serving Korea’s enterprises, industries, government organizations and global AI cloud customers. Combining Brookfield’s capital with NVIDIA’s computing platform, the investment supports NAVER’s AI factory deployment.

“NVIDIA’s strategic investment and our infrastructure supply agreement with Brookfield have propelled NAVER’s vision for the AI Factory business into a robust execution phase,” said Haejin Lee, Founder and Chairman of NAVER. “Leveraging the solid partnerships with our global partners, we will drive technological innovation, foster a sovereign AI ecosystem, and spearhead efforts to strengthen South Korea’s AI competitiveness.” 

AI Factory Expansion and Open Model Collaboration to Fuel AI Innovators

NAVER, as an NVIDIA Cloud Partner, provides deep expertise in operating hyperscale infrastructure powered by the full-stack NVIDIA AI platform. The 200-megawatt AI factory, featuring NVIDIA Vera Rubin and Blackwell platforms, will establish a dedicated resource pool for emerging AI companies, providing the compute, software and support needed to develop and deploy competitive AI models and applications at scale.

This expanded infrastructure also builds on NAVER and NVIDIA’s collaboration on open model development for agentic and physical AI. NAVER is advancing its HyperCLOVA X models to be based on NVIDIA Nemotron™ 3 Ultra open models with its proprietary data and training expertise. NAVER is also the first Korean company to join the NVIDIA Nemotron Coalition, contributing to open model development across pretraining, post-training and reinforcement learning.

NAVER plans to launch an AI agent platform in Korea in the second half of the year, powered by NVIDIA Agent Toolkit software including NVIDIA NemoClaw™ blueprints. NAVER is also developing a Seoul World Model using proprietary urban street-view and spatial modeling data, built on NVIDIA Cosmos™ world foundation models.

About NAVER

Founded in 1999, NAVER is Korea’s largest Internet company and one of the world’s top tech companies. Leading cutting-edge technologies, NAVER operates the No.1 search engine in Korea and holds various business portfolios encompassing commerce, fintech, cloud, AI and robotics.

NAVER recorded sales of KRW 12.04 trillion (USD 8.18 billion) in 2025. TEAM NAVER continues to enhance its business portfolio and expand its global presence across Japan, North America, and Europe, while pursuing innovation through continuous research and development in future technologies.

View original content:https://www.prnewswire.com/news-releases/naver-partners-with-brookfield-and-nvidia-to-expand-koreas-national-ai-factory-infrastructure-buildout-302834577.html

SOURCE NAVER

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