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Taylor Devices Announces Strong Second Quarter And Six Month Results

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NORTH TONAWANDA, N.Y., Jan. 4, 2019 /PRNewswire/ -- Taylor Devices, Inc.  (NASDAQ SmallCap: TAYD) announced today that it had 2nd quarter sales of $9,479,159 up sharply from last year's 2nd quarter sales of $4,811,774. Year-to-date sales through six months was $16,793,253, a substantial increase over last year's level of $11,379,494 through six months.                                                  

Net earnings for the 2nd quarter were $375,517, up dramatically from last year's 2nd quarter earnings of $52,147. Net earnings for the full six months were $1,116,349, more than three times last year's level of $353,894.

"After a much-improved 1st quarter of this fiscal year, we are continuing that positive trend with our robust 2nd quarter results," stated Alan R. Klembczyk, President.  He continued, "This year is showing substantial improvement over the first six months compared to the previous year.  We have recorded a 48% increase in revenue and a 215% increase in net profit.  Over that same period, structural products sales increased 76%, while aerospace & defense sales increased by 23%." 

He concluded, "We remain committed to maintaining this trend so that we can make 2019 a solidly profitable year while steadily increasing revenue long-term."

Taylor Devices, Inc. is a 64-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.

2nd Quarter (3 months ended 11/30/18 & 11/30/17)      

F/Y 19       

F/Y 18




Sales                      

$9,479,159

$4,811,774




Net Earnings         

$   375,517

$   52,147




Earnings per Share     

$           .11

$         .02




Weighted Average Shares Outstanding    

3,466,796

3,445,429




Year-to-date (6 months ended 11/30/18 & 11/30/17)    

F/Y 19                              

F/Y 18




Sales                       

$16,793,253

$11,379,494




Net Earnings                         

$ 1,116,349

$   353,894




Earnings per Share              

$           .32

$          .10




Weighted Average Shares Outstanding   

3,467,002

3,447,383




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

 

Cision View original content:http://www.prnewswire.com/news-releases/taylor-devices-announces-strong-second-quarter-and-six-month-results-300772939.html

SOURCE Taylor Devices, Inc.

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