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 3rd quarter sales of $7,812,496, up considerably from last year's 3rd 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 3rd quarter were $445,786, up sharply compared to last year's 3rd 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 3rd 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.
THIRD QUARTER (02-28-19) | F/Y 18-19 | F/Y 17-18 |
SALES | $7,812,496 | $6,573,658 |
NET EARNINGS | $445,786 | ($23,417) |
AVERAGE NUMBER OF SHARES OUTSTANDING | 3,467,250 | 3,449,366 |
EARNINGS PER SHARE | $0.13 | ($0.01) |
NINE MONTHS (02-28-19) | F/Y 18-19 | F/Y 17-18 |
SALES | $24,605,749 | $17,953,152 |
NET EARNINGS | $1,562,135 | $330,477 |
AVERAGE NUMBER OF SHARES OUTSTANDING | 3,467,497 | 3,451,348 |
EARNINGS PER SHARE | $0.45 | $0.09 |
Taylor's website can be visited at: www.taylordevices.com; with company newsletters at www.taylordevices.com/investors.
Taylor Devices, Inc.
Contact: | Artie Regan |
Regan & Associates, Inc. | |
(212) 587-3005 (phone) | |
(212) 587-3006 (fax) | |
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SOURCE Taylor Devices, Inc.