ELSE: ELECTRO SENSORS INC
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ELSE grabbed my attention partially based on their strong current financial results. Revenue increased 438,000 or 34.7% across all product line for the three month period ended June 30, 2010 supported my margin expansion and growing FCF as a percentage of sales. Gross margin for the three-month period ended June 30, 2010 was 60.1% versus 58.6% for the same period in 2009.
Price = 4.15
Dividend Yield = 3.90%
TTM FCF per share = .28
TTM EBITDA per share = .30
FCF/Sales = 14.12%
Cash per share = 2.51
Insiders hold 56%
Institutions = 1.80%
FCF/EV = 12.31%
SGA/Ttl Rev = .39
Enterprise value = 6.6 million
Market cap = 14 million
52 week price change = 48%
Off 52 week high = 13.76%
Off 52 week low = 48.84%
Cash % Price = 68%
EV/Rev = 1.06
Overall this stable well managed closely held tiny nano cap continues to perform operationally excellent and has seen a significant increase in operational performance based on many factors that will drive a higher market value.
ELSE continues to move all the levers in the strategic profit formula (DuPont) in the right direction.
Productivity, Profitability and Captial Sturcture
Productivity is seen with an improved cash conversion cycle compared to historical results.
Gross Margin, FCF to sales, operating margin have all dramatically improved indicating improved profitability.
Capital structure is clean with no debt and a stable share count over the past 5 years.
ELSE owns and occupy a 25,400 square foot facility at 6111 Blue Circle Drive, Minnetonka, Minnesota. Executive compensation is modest.CEO reported an annual salary of only 176k.
