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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)


main@reganproxy.com

 

 

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