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Elecsys Corp. (ESYS) Reports Second Fiscal Quarter Results

|Includes: Elecsys Corporation (ESYS)

Elecsys Corporation reported a large increase in revenue on a year over year basis in the second quarter of fiscal 2010, which ended 7/31/2010. The company attributed the increase to strong demand for both its existing and newly introduced products.

Elecsys Corporation reported revenue of $5.2 million in the second quarter of fiscal 2010, compared to revenue of $3.6 million in the second quarter of fiscal 2009.

Elecsys Corporation also improved its net income in the most recent quarter compared to the same quarter in fiscal 2009. Elecsys Corporation reported net income of $0.01 million, or $0.03 per diluted share, in the second quarter of fiscal 2010, compared to a net loss of $0.7 million, or ($0.12) per diluted share, in the second quarter of fiscal 2009.

The management of Elecsys Corporation continued to make investments for future growth despite an acknowledgment regarding the weakness of the current global expansion in economic activity.

Karl B. Gemperli, the CEO of Elecsys Corporation, said, “We continue to experience challenges related to the weakness of the global economy…Most importantly, during the quarter we continued to make substantial investments in both developing additional products and penetrating new markets that are vital to our long term expansion.”

For more information on the company, go to elecsyscorp.com

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