Taylor Devices Announces Fourth Quarter And Full Year Results
NORTH TONAWANDA, N.Y., Aug. 29, 2017 /PRNewswire/ -- Taylor Devices, Inc. (NASDAQ SmallCap: "TAYD") announced today that it had net earnings for the 4th quarter of $844,260, down from last year's 4th quarter profit of $1,092,314. Net income for the full fiscal year was $2,330,577, also down from last year's full fiscal year net income of $4,208,225 which was an all-time record.
Sales for the 4th quarter of $6,301,098, were down from last year's 4th quarter sales of $9,061,340. Sales of $25,536,996 for the full year were also down from last year's level of $35,680,449, which was also an all-time record.
"As I said after our third quarter results, our previous fiscal year (2016) was so outstanding, year-to-year comparisons are difficult; that fact continues to be true," stated Douglas P. Taylor, President. He continued, "While we did not have record breaking results this year, our sales were the fourth highest in Company history and our earnings were the third highest in our Company history." He continued, "When the outlook for the U.S. economy becomes more certain, we expect our seismic sales to pick-up; our firm order backlog of $21.6 million is also up slightly from the $21.5 million level it was at exactly one year ago."
He continued, "With our recent major construction projects mostly behind us, we are now able to manufacture & ship the largest dampers that we have ever made." He concluded, "We anticipate that 2018 will be yet another profitable & successful year."
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.
4th Quarter (3 months ended 5/31/17 & 5/31/16) | F/Y 17 | F/Y 16 |
Sales | $6,301,098 | $9,061,340 |
Net Earnings | $ 844,260 | $1,092,314 |
Earnings per Share | $ .24 | $ .31 |
Shares Outstanding | 3,439,682 | 3,408,260 |
Fiscal Year | F/Y 17 | F/Y 16 |
Sales | $25,536,996 | $35,680,449 |
Net Earnings | $ 2,330,577 | $ 4,208,225 |
Earnings per Share | $ .66 | $ 1.21 |
Shares Outstanding | 3,439,682 | 3,408,260 |
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)
info@reganproxy.com
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SOURCE Taylor Devices, Inc.
