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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

24 Sep 21
28 Sep 21
30 Jun 22
Quarter (USD)
Jun 21 Mar 21 Dec 20 Sep 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 21 Jun 20 Jun 19 Jun 18
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) 6.8M 6.8M 6.8M 6.8M 6.8M 6.8M
Cash burn (monthly) 562.07K (positive/no burn) (positive/no burn) 32.56K 531.1K (positive/no burn)
Cash used (since last report) 1.66M n/a n/a 96.35K 1.57M n/a
Cash remaining 5.14M n/a n/a 6.71M 5.23M n/a
Runway (months of cash) 9.1 n/a n/a 205.9 9.8 n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
1 Jul 21 David A Oneil Stock Option Common Stock Grant Acquire A No No 14.87 6,000 89.22K 27,925
1 Jul 21 Katrina Leonore Sparano Stock Option Common Stock Grant Acquire A No No 14.87 5,000 74.35K 21,150
1 Jul 21 Patrick Thomas Jr. Enright Stock Option Common Stock Grant Acquire A No No 14.87 6,000 89.22K 43,200
1 Jul 21 Peggy A Murphy Stock Option Common Stock Grant Acquire A No No 14.87 6,000 89.22K 25,850
14 Dec 20 Katrina Leonore Sparano Common Stock - $.33 1/3 par value Sell Dispose S No No 20.73 345 7.15K 0

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

41.7% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 22 22
Opened positions 2 2
Closed positions 2 3 -33.3%
Increased positions 5 6 -16.7%
Reduced positions 6 5 +20.0%
13F shares
Current Prev Q Change
Total value 21.84M 22.31M -2.1%
Total shares 1.13M 1.15M -1.6%
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 0.0%
Renaissance Technologies 120.1K $1.78M -4.2%
Dimensional Fund Advisors 98.87K $1.47M -0.6%
Vanguard 44.46K $659K 0.0%
Secure Asset Management 39.01K $578K -2.4%
RY Royal Bank Of Canada 17.49K $259K 0.0%
Bridgeway Capital Management 17.11K $254K 0.0%
Adirondack Trust 6.4K $95K +5.8%
BLK Blackrock 6.23K $93K +561.1%
Advisor 2.34K $35K -18.8%
Largest transactions
Shares Bought/sold Change
California Public Employees Retirement System 0 -16.3K EXIT
Renaissance Technologies 120.1K -5.32K -4.2%
BLK Blackrock 6.23K +5.29K +561.1%
USB U.S. Bancorp. 1.28K -1K -43.8%
Secure Asset Management 39.01K -944 -2.4%
Dimensional Fund Advisors 98.87K -612 -0.6%
Advisor 2.34K -540 -18.8%
Adirondack Trust 6.4K +350 +5.8%
MS Morgan Stanley 1.83K +288 +18.7%
UBS UBS Group AG - Registered Shares 548 +248 +82.7%

Financial report summary

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Management Discussion
  • Net sales for the years ended June 30, 2021 and 2020 were $27,734,598 and $31,526,231, respectively, a 12% decrease. The decrease in net sales in fiscal year 2021 is primarily due to a decrease in power supply and magnetics 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 programs including contract value, scope of work and duration. Deliverables within firm contracts are often subject to delivery schedules. Internal and external constraints, at times, impact our ability to ship. Sales results during the twelve months ended June 30, 2021 were impacted by our inability to manufacture and ship product during the third quarter due to an unplanned facility closure resulting from a significant workforce COVID-19 exposure. This closure lasted approximately 10 days with the facility re-opening at less than full capacity. These delays in production placed strain on an already aggressive production and shipment schedule in place for the fourth quarter. Also impacting sales during the fiscal year ended June 30, 2021, specific to power supply shipments, is the decline in procurement for product supporting the rail industry and the decrease in shipments against a single military contract which had no sales in the fiscal year when compared to the prior year. This decline was offset, in part, by an increase in build to print contracts of varying size, scope and duration.
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