NORTH TONAWANDA, N.Y.,
March 25, 2020 /PRNewswire/
-- Taylor Devices, Inc. (NASDAQ SmallCap: "TAYD") announced
today that it had 3rd quarter Net earnings of
$782,752, up from last year's
3rd quarter Net earnings of $445,786. Net earnings for the
1st nine months were $2,054,335, also up from last year's Net earnings
for the 1st nine months of $1,562,135.
Sales for the 3rd quarter were $7,234,195, slightly lower than last year's 3rd
quarter sales of $7,812,496.
Sales for the 1st nine months were $20,645,259, lower than last year's
1st nine months sales of $24,605,749.
"We continue to reap the benefits of our lean initiatives and
focus on continuous improvement across the business as seen in our
3rd quarter earnings which also contributed to our
favorable YTD earnings position," stated Tim Sopko, CEO. He further commented,
"Sales to our Aerospace/Defense customers dominated the quarter
with tariffs continuing to negatively impact sales to our non-US
Construction customers." He concluded, "With the recent onset
of the Coronavirus, we are prioritizing the health and safety of
our employees and their families as we carefully manage and
maintain a minimum level of operational activity that allows us to
support our customers by providing them with our critically needed
products as approved by State and Federal authorities."
The company's firm order backlog is $14,600,000 at the end of the 1st nine months as
compared to $15,900,000 at this time
last year.
Taylor Devices, Inc. is a 65-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 pursue growth across all
product lines.
|
3rd
Quarter (3 months ended 02/29/20 &
02/28/19)
|
F/Y
20
|
F/Y 19
|
|
Sales
|
$7,234,195
|
$7,812,496
|
|
Net
Earnings
|
$
782,752
|
$
445,786
|
|
Earnings per
Share
|
$
0.22
|
$
0.13
|
|
Shares
Outstanding
|
3,478,914
|
3,467,250
|
|
1st Nine
months (ended 02/29/20 & 02/28/19)
|
F/Y
20
|
F/Y 19
|
|
Sales
|
$20,645,259
|
$24,605,749
|
|
Net
Earnings
|
$
2,054,335
|
$
1,562,135
|
|
Earnings per
Share
|
$
0.59
|
$
0.45
|
|
Shares
Outstanding
|
3,479,033
|
3,467,497
|
Taylor's website can be visited at:
www.taylordevices.com ; with company newsletters and
other pertinent information at www.taylordevices.com/investors.
Taylor Devices, Inc.
|
Contact:
|
Artie
Regan
|
|
Regan &
Associates, Inc.
|
|
(212) 587-3005
(phone)
|
|
(212) 587-3006
(fax)
|
|
main@reganproxy.com
|
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content:http://www.prnewswire.com/news-releases/taylor-devices-announces-third-quarter-and-nine-month-results-301029689.html
SOURCE Taylor Devices, Inc.
