Taylor Devices Announces Third Quarter And Nine Month Results
NORTH TONAWANDA, N.Y., April 13, 2017 /PRNewswire/ -- Taylor Devices, Inc. (NASDAQ SmallCap: "TAYD") announced today that it had third quarter net earnings of $338,203, down from last year's third quarter earnings of $1,181,604. Net Earnings for the first nine months were $1,486,317, also down from last year's first nine months' net earnings of $3,115,911.
Sales for the third quarter were $5,672,720, down from last year's third quarter sales of $8,326,147. Sales for the first nine months were $19,235,898, also down from last year's $26,619,109.
"Our previous fiscal year (2016) was so outstanding, year-to-year comparisons are difficult; in fact, our 2016 earnings were 65% better than our previous record high," stated Douglas P. Taylor, President. He continued, "While we will not have record breaking results this year, both our sales & earnings, through three quarters, are higher than their respective four-year averages prior to last year's record levels." He continued, "Revenue from recent defense and seismic projects awarded will materialize starting in fiscal 2018 and our firm order backlog of $19.5 million is the exact same level as one year ago."
He continued, "This summer, a 15th anniversary celebration of London's Millennium (Pedestrian) Bridge's re-opening will be held as part of the 24th International Conference on Sound and Vibration (ICSV24); presentations describing the addition of Taylor Devices' dampers to the bridge will be made at the conference." He concluded, "Additional information on the Millennium Bridge retrofit is available on our web site at: taylordevices.com/papers/damper/damper.pdf."
Taylor Devices, Inc. is a 62 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 (3 months ended 02/28/17 & 02/29/16) | F/Y 17 | F/Y 16 | ||
Sales | $5,672,720 | $8,326,147 | ||
Net Earnings | $ 338,203 | $1,181,604 | ||
Earnings per Share | $ .10 | $ .35 |
Nine Months (9 months ended 02/28/17 & 02/29/16) | F/Y 17 | F/Y 16 | ||
Sales | $19,235,898 | $26,619,109 | ||
Net Earnings | $1,486,317 | $3,115,911 | ||
Earnings per Share | $ .43 | $ .92 | ||
Shares Outstanding | 3,431,312 | 3,397,613 |
Taylor's website can be visited at: www.taylordevices.com
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.
