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ESP Espey Manufacturing & Electronics

Espey Mfg. & Electronics Corp. designs, develops, tests and manufactures specialized Military and Rugged Industrial Power Supplies and Transformers for use in harsh or severe environment applications. An Original Equipment Manufacturing (OEM) Company, Espey has been in business for more than 85 years designing and developing “Best in Class” products in support of our government and the Warfighter. Espey is a fully vertically integrated manufacturing company with product development, engineering, power supply and transformer assembly, sheet metal fabrication, machining, painting/coating, electrical/mechanical assembly and transformer coil winding capabilities all on-site at our 150,000+ square foot facility located in Saratoga Springs, NY

Company profile

Ticker
ESP
Exchange
Website
CEO
Patrick Thomas Enright
Employees
Incorporated
Location
Fiscal year end
Former names
ESPEY MANUFACTURING & ELECTRONICS CORP
SEC CIK
IRS number
141387171

ESP stock data

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Calendar

17 May 21
14 Jun 21
30 Jun 21
Quarter (USD)
Mar 21 Dec 20 Sep 20 Jun 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Jun 20 Jun 19 Jun 18 Jun 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 8.49M 8.49M 8.49M 8.49M 8.49M 8.49M
Cash burn (monthly) 183.82K (positive/no burn) 392.49K 9.62K 246.91K (positive/no burn)
Cash used (since last report) 453.93K n/a 969.22K 23.75K 609.73K n/a
Cash remaining 8.04M n/a 7.52M 8.47M 7.88M n/a
Runway (months of cash) 43.7 n/a 19.2 880.2 31.9 n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
14 Dec 20 Katrina Leonore Sparano Common Stock - $.33 1/3 par value Sell Dispose S No No 20.73 345 7.15K 0
1 Dec 20 Pinsley Howard M Common Stock - $.33 1/3 par value Buy Aquire P Yes No 18.29 300,000 5.49M 300,000
1 Dec 20 Peggy A Murphy Common Stock - $.33 1/3 par value Buy Aquire P Yes No 18.29 300,000 5.49M 300,000
21 Oct 20 Carl Helmetag Stock Option Common Stock Grant Aquire A No No 18.05 2,150 38.81K 16,142

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

42.5% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 23 20 +15.0%
Opened positions 5 1 +400.0%
Closed positions 2 3 -33.3%
Increased positions 4 1 +300.0%
Reduced positions 5 10 -50.0%
13F shares
Current Prev Q Change
Total value 24.26M 9.74M +149.0%
Total shares 1.15M 377.9K +203.7%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners
Shares Value Change
Espey Mfg. & Electronics Corp. Employee Retirement Plan & Trust 768.66K $14.54M NEW
Renaissance Technologies 129.11K $2.44M +1.8%
Dimensional Fund Advisors 100.16K $1.9M -3.1%
Vanguard 43.39K $821K 0.0%
Secure Asset Management 39.58K $749K -0.1%
RY Royal Bank Of Canada 18.4K $348K 0.0%
California Public Employees Retirement System 17.24K $326K 0.0%
Bridgeway Capital Management 10.7K $202K 0.0%
Adirondack Trust 6K $114K +0.1%
Advisor 3.78K $71K +54.8%
Largest transactions
Shares Bought/sold Change
Espey Mfg. & Electronics Corp. Employee Retirement Plan & Trust 768.66K +768.66K NEW
Dimensional Fund Advisors 100.16K -3.23K -3.1%
Renaissance Technologies 129.11K +2.28K +1.8%
Safeguard Investment Advisory 1.5K +1.5K NEW
Advisor 3.78K +1.34K +54.8%
Captrust Financial Advisors 787 +787 NEW
Flagship Harbor Advisors 0 -750 EXIT
DB Deutsche Bank AG - Registered Shares 1.7K -675 -28.4%
MS Morgan Stanley 1.54K +365 +31.0%
FMR 0 -300 EXIT

Financial report summary

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Management Discussion
  • Net sales decreased for the three months ended March 31, 2021 to $4,205,068 as compared to $6,191,300 for the same period in 2020. Net sales for the nine months ended March 31, 2021 decreased to $18,432,648 as compared to $19,401,793 for the same period in 2020. For the three and nine months ended March 31, 2021, sales decreased due to a decline in power supply and magnetic sales offset, in part, by an increase in build to print shipments. In general, sales fluctuations within product categories will occur during a comparable fiscal period as the direct result of product mix, influenced by the duration of specific programs and the contractual terms of firm orders placed for product and services under those those programs including contract value, scope of work and duration. Deliverables within firm contracts are often subject to delivery schedules. Internal and external contraints, at times, impact our ability to ship. Sales results during the three and nine months ended March 31, 2021 were significantly impacted by our inability to manufacture and ship product during the current fiscal quarter due to an unplanned facility closure which occurred in March 2021 resulting from a significant workforce COVID-19 exposure. This closure lasted approximately 10 days with the facility re-opening at less than full capacity. Also impacting sales during the current fiscal year, specific to power supply shipments, is the decline in procurement for product supporting the the rail industry. This decline has been offset, in part, by an increase in build to print contracts of varying size, scope and duration.
Content analysis
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Positive
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Legalese
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Readability
8th grade Avg
New words: additionally, April, clearance, closure, escalation, exposure, external, freight, iii, inability, influenced, inpact, iv, morale, outgoing, proper, qualification, returning, shutdown, sponsored, suspended, unable, unforeseen, unplanned
Removed: alternate, authorization, country, declared, disease, essential, evaluating, expectation, extending, Health, Homeland, limited, local, mandated, minimal, open, outbreak, permitted, procure, rare, remained, require, strain, world