Taylor Devices Announces Strong First Quarter Results

Taylor Devices Announces Strong First Quarter Results
Taylor Devices Announces Strong First Quarter Results

NORTH TONAWANDA, N.Y., Oct. 11, 2018 /PRNewswire/ -- Taylor Devices, Inc.  (NASDAQ SmallCap: "TAYD") announced today that it had 1st quarter sales of $7,314,094, up significantly from last year's 1st quarter sales of $6,567,720.

Net earnings for the 1st quarter were $740,832, up sharply from last year's 1st quarter earnings of $301,747.

"Our current fiscal year is off to a much-improved start after a disappointing finish to our last fiscal year; in particular, net earnings are trending back towards where we want them to be to meet the Company's strategic goals," stated Alan R. Klembczyk, President.  He continued, "Our firm order backlog of $22.6 million at the end of the first quarter is up slightly from the level of $21.6 million one year ago.   It is quite encouraging to note that our domestic sales have increased 37% from the same period of the prior year, primarily from sales to customers in aerospace / defense.  Additionally, we are continuing our aggressive sales strategies across all market sectors and more new opportunities are emerging."  He concluded, "We remain committed to making 2019 an energetic & profitable year."

Taylor Devices, Inc. is a 63 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.

1st Quarter  (3 months ended 8/31/18 & 8/31/17)  

            F/Y 19

               F/Y 18




Sales                                          

$7,314,094

$6,567,720




Net Earnings                           

$   740,832

$   301,747




Earnings per Share                  

$           .21

$           .09




Weighted Average Shares Outstanding          

3,466,589

3,443,475

 

Taylor's website can be visited at:  www.taylordevices.com ; with company newsletters at www.taylordevices.com/press-releases.html .   Additional information can also be found at www.seismicdamper.com .

Taylor Devices, Inc.

Contact:   
Artie Regan 
Regan & Associates, Inc. 
(212) 587-3005 (phone) 
(212) 587-3006 (fax) 
info@reganproxy.com

View original content:http://www.prnewswire.com/news-releases/taylor-devices-announces-strong-first-quarter-results-300729524.html

SOURCE Taylor Devices, Inc.

This article was written by cool news network.

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