Evans & Sutherland Computer Corporation reported unaudited consolidated earnings results for the full year ended December 31, 2014. Sales for 2014 were $26.5 million, compared to sales of $29.6 million for 2013. The net loss for 2014 was $1.3 million or $0.12 per diluted share, compared to a net income of $1.2 million or $0.11 per diluted share for 2013. Revenue backlog as of December 31, 2014 was $28.2 million compared to backlog of $17.2 million as of December 31, 2013. Sales and gross profit for 2014 were lower than 2013, which is the primary reason for the net loss for 2014 as compared to net income for 2013. This was due to unexpected changes to customer schedules, which delayed several installations and not the result of a downward trend in the business. To the contrary, new sales bookings were extraordinarily strong, leading to a 65% increase in the sales backlog to $28.2 million as of December 31, 2014 compared with backlog of $17.1 million as of December 31, 2013. Operating loss was $730,000 against income of $2,000,000 for the last year. Loss before income tax provision was $1,282,000 against income of $1,270,000 for the last year.

Sales prospects remain very strong, which supports an encouraging outlook for 2015 and 2016. The company believe that sales for 2015 will exceed sales recorded in 2014, which is expected to lead to improved results. Cash balances have also improved to $7.0 million as of December 31, 2014 compared to cash balances of $3.4 million as of December 31, 2013. The increase in cash is attributable to progress payments received on customer orders and it is being used to purchase required inventory for customer deliveries. As a result, cash balances dropped to approximately $5.5 million midway through the first quarter of 2015.