Taylor Devices Announces Fourth Quarter And Full Year Results
NORTH TONAWANDA, N.Y., Aug. 29, 2014 /PRNewswire/ -- Taylor Devices, Inc. (NASDAQ SmallCap: TAYD) announced today that sales for the 4th quarter were $5,303,755, up from last year's 4th quarter sales of $5,151,806. Sales for the full year were $20,011,228, down from last year's level of $24,729,585.
Net earnings for the 4th quarter were $401,290, down from last year's 4th quarter profit of $548,101. Net income for the full fiscal year was $1,131,212, down from last year's all-time, full fiscal year net income record of $2,547,794.
"The clearest story is told by our firm order backlog of $24.6 million at year-end; up from $13.1 million reported one year ago," stated Douglas P. Taylor, President. He continued, "Lost production hours related to the start-up of our new manufacturing facilities impacted both sales and income during this last year." He concluded, "With our fourth quarter shipments exceeding 2013 by a modest amount, we believe the Company is now back on track for future growth."
Taylor Devices, Inc. is a 59 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 5/31/14 & 5/31/13) |
F/Y 13-14 |
F/Y 12-13 |
Sales |
$5,303,755 |
$5,151,806 |
Net Earnings |
$ 401,290 |
$ 548,101 |
Earnings per Share |
$ .12 |
$ .17 |
Shares Outstanding |
3,342,816 |
3,311,035 |
Fiscal Year |
F/Y 13-14 |
F/Y 12-13 |
Sales |
$20,011,228 |
$24,729,585 |
Net Earnings |
$ 1,131,212 |
$ 2,547,794 |
Earnings per Share |
$ .34 |
$ .77 |
Shares Outstanding |
3,342,816 |
3,311,035 |
Taylor's website can be visited at: www.taylordevices.com
Contact: |
Artie Regan |
Regan & Associates, Inc. |
|
(212) 587-3005 (phone) |
|
(212) 587-3006 (fax) |
|
SOURCE Taylor Devices, Inc.
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