Taylor Devices Announces Strong First Quarter Results
PR Newswire
NORTH TONAWANDA, N.Y., Oct. 11, 2018
NORTH TONAWANDA, N.Y., Oct. 11, 2018 /PRNewswire/ -- Taylor Devices, Inc. (NASDAQ SmallCap: "TAYD") announced today that it had 1st quarter sales of $7,314,094, up significantly from last year's 1st quarter sales of $6,567,720.
Net earnings for the 1st quarter were $740,832, up sharply from last year's 1st quarter earnings of $301,747.
"Our current fiscal year is off to a much-improved start after a disappointing finish to our last fiscal year; in particular, net earnings are trending back towards where we want them to be to meet the Company's strategic goals," stated Alan R. Klembczyk, President. He continued, "Our firm order backlog of $22.6 million at the end of the first quarter is up slightly from the level of $21.6 million one year ago. It is quite encouraging to note that our domestic sales have increased 37% from the same period of the prior year, primarily from sales to customers in aerospace / defense. Additionally, we are continuing our aggressive sales strategies across all market sectors and more new opportunities are emerging." He concluded, "We remain committed to making 2019 an energetic & profitable year."
Taylor Devices, Inc. is a 63 year old company engaged in the design, development, manufacture & marketing of shock absorption, rate control and energy storage devices for use in various types of vehicles, machinery, equipment & structures. The company continues to achieve growth in the developing seismic protection field and in the isolation of wind-induced vibrations.
1st Quarter (3 months ended 8/31/18 & 8/31/17) | F/Y 19 | F/Y 18 |
Sales | $7,314,094 | $6,567,720 |
Net Earnings | $ 740,832 | $ 301,747 |
Earnings per Share | $ .21 | $ .09 |
Weighted Average Shares Outstanding | 3,466,589 | 3,443,475 |
Taylor's website can be visited at: www.taylordevices.com ; with company newsletters at www.taylordevices.com/press-releases.html . Additional information can also be found at www.seismicdamper.com .
Taylor Devices, Inc.
Contact:
Artie Regan
Regan & Associates, Inc.
(212) 587-3005 (phone)
(212) 587-3006 (fax)
info@reganproxy.com
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SOURCE Taylor Devices, Inc.
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