NORTH TONAWANDA, N.Y.,
Dec. 27, 2019 /PRNewswire/
-- Taylor Devices, Inc. (NASDAQ SmallCap: "TAYD") announced
today that it had 2nd quarter Net earnings of
$917,006, up from last year's
2nd quarter Net earnings of $375,517. Net earnings for the
1st six months were $1,271,583, also up from last year's Net earnings
for the 1st six months of $1,116,349.
Sales for the 2nd quarter were $7,702,425, lower than last year's 2nd
quarter sales of $9,479,159.
Sales for the 1st six months were $13,411,064, lower than last year's
1st six-month sales of $16,793,253.
"Very strong margins in our 2nd quarter contributed to the
strong overall margin performance for the 1st six months of this
fiscal year which is the result of both changes in product mix and
the benefits of our focus on lean initiatives," stated Tim Sopko, CEO. He further
commented, "While sales to our Aerospace/Defense customers returned
to expected levels in the 2nd quarter, sales to our Construction
customers are being impacted by delays on some larger projects here
in the US with tariffs negatively impacting export sales." He
concluded, "Our focus on Lean continues and is expected to help us
take advantage of the opportunities resulting from the robust US
economy as we enter the second half of our fiscal year."
The company's firm order backlog is $17,100,000 at the end of the 1st six months as
compared to $13,300,000 at the
beginning of the fiscal year.
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.
|
2nd
Quarter (3 months ended 11/30/19 &
11/30/18)
|
F/Y 20
|
F/Y 19
|
|
Sales
|
$7,702,425
|
$9,479,159
|
|
Net
Earnings
|
$
917,006
|
$
375,517
|
|
Earnings per
Share
|
$
0.26
|
$
0.11
|
|
Shares
Outstanding
|
3,478,716
|
3,466,796
|
|
|
|
|
1st Half
(6 months ended 11/30/19 & 11/30/18)
|
F/Y 20
|
F/Y 19
|
|
Sales
|
$13,411,064
|
$16,793,253
|
|
Net
Earnings
|
$
1,271,583
|
$
1,116,349
|
|
Earnings per
Share
|
$
0.37
|
$
0.32
|
|
Shares
Outstanding
|
3,478,795
|
3,467,002
|
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-second-quarter-and-six-month-results-300979591.html
SOURCE Taylor Devices, Inc.
