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Taylor Devices Announces Fourth Quarter And Full Year Results

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Taylor Devices Announces Fourth Quarter And Full Year Results

PR Newswire

NORTH TONAWANDA, N.Y., Aug. 29, 2018 /PRNewswire/ -- Taylor Devices, Inc.  (NASDAQ SmallCap: "TAYD") announced today that it had net earnings for the 4th quarter of $112,893, down from last year's 4th quarter profit of $844,260.  Net income for the full fiscal year was $443,370, also down from last year's full fiscal year net income of $2,330,577.

Sales for the 4th quarter of $6,410,815, up from last year's 4th quarter sales of $6,301,098.  Sales of $24,363,967 for the full year were down from last year's level of $25,536,996.

"This past fiscal year was marked by transition and rejuvenation; we recently replaced three directors and have new leadership." stated Alan R. Klembczyk, President.  He continued, "While our overall results for FY2018 were unacceptable, sales did improve in the 4th quarter and we announced the $7.51 million order for dampers on the San Francisco-Oakland Bay Bridge, the largest in Company history."  He continued, "We are now operating in a lower corporate tax rate environment; our firm order backlog of $23.1 million is also up from the $21.6 million level it was at exactly one year ago."

He continued, "With our recent major transformation behind us, we are now focusing on the future by incorporating new strategies and capitalizing on new opportunities."  He concluded, "We expect 2019 to be a profitable & dynamic 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.

4th Quarter  (3 months ended 5/31/18 & 5/31/17)

F/Y 18

F/Y 17

Sales

$6,410,815

$6,301,098

Net Earnings

$   112,893

$   844,260

Earnings per Share

$           .04

$          .24

Shares Outstanding

3,466,267

3,439,682

 

Fiscal Year

F/Y 18

F/Y 17

Sales

$24,363,967

$25,536,996

Net Earnings

$     443,370

$  2,330,577

Earnings per Share

$             .13

$            .66

Shares Outstanding

3,466,267

3,439,682

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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