MINNETONKA, Minn., May 10, 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 first quarter ended March 31, 2024. First quarter revenue of $2,244,000, up 9.7% from prior year-period Gross Margin of 48.1% Cash and investments of approximately $10.1 million Unaudited; in thousands, except per share data Q1 FY24 Q1 FY23 Change Net Sales $ 2,244 $ 2,045 9.7 % Gross Margin 48.1 % 50.0 % (190) bps Operating Loss $ (100) $ (138) 27.5 % Operating Margin (4.5) % (6.7) % 220 bps Income (Loss) Before Income Tax Benefit $ 16 $ (45) 135.6 % Income (Loss) Per Share (diluted) $ 0.00 $ (0.01) 100.0 %   "We are pleased to report first quarter revenue of $2,244,000, up 9.7% from the prior-year period," said David L. Klenk, Electro-Sensors' president.  "This represents our largest first quarter revenue, with the increase driven primarily by several larger orders for facility upgrades and modernization projects.  Additionally, sales increased for both our traditional wired sensors and wireless HazardPRO™ systems." A full analysis of results for the period ended March 31, 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. Consolidated Statements of Income For the Quarter Ended March 31, 2024 and 2023 (unaudited) (in thousands except share and per share amounts) Three Months Ended March 31 2024 2023 Net sales $ 2,244 $ 2,045 Cost of goods sold 1,164 1,023 Gross profit 1,080 1,022 Operating expenses 1,180 1,160