Taylor Devices Announces Strong Third Quarter And Nine Month Results

NORTH TONAWANDA, N.Y., March 29, 2019 /PRNewswire/ -- Taylor Devices, Inc. (NASDAQ SmallCap: "TAYD") announced today that it had 3^rd quarter sales of $7,812,496, up considerably from last year's 3^rd quarter sales of $6,573,658. Year-to-date sales through nine months were $24,605,749, a substantial increase over last year's level of $17,953,152 through nine months.

Net earnings for the 3^rd quarter were $445,786, up sharply compared to last year's 3^rd quarter loss of $23,417.  Net earnings for the full nine months were $1,562,135, more than four times last year's level of $330,477.

"After solid performance for the first half of this fiscal year, we are happy to announce continued improvement over the first 3 quarters when compared to last year," stated Alan R. Klembczyk, President.  He continued, "Over nine months, we have recorded a 37% increase in revenue and a 373% increase in net profit.  Over that same period, structural products sales increased 62%, while aerospace & defense sales increased by 14%." 

He concluded, "Our 3^rd quarter results will help us to make 2019 a solidly profitable year and we remain committed to 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/investors.

Taylor Devices, Inc.

SOURCE Taylor Devices, Inc.