Taylor Devices Announces Strong Second Quarter And Six Month Results

NORTH TONAWANDA, N.Y., Jan. 4, 2019 /PRNewswire/ -- Taylor Devices, Inc.  (NASDAQ SmallCap: TAYD) announced today that it had 2^nd quarter sales of $9,479,159 up sharply from last year's 2^nd 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 2^nd quarter were $375,517, up dramatically from last year's 2^nd 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 1^st quarter of this fiscal year, we are continuing that positive trend with our robust 2^nd 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.

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.

SOURCE Taylor Devices, Inc.