Taylor Devices Announces Second Quarter And Six Month Results

NORTH TONAWANDA, N.Y., Jan. 13, 2014 /PRNewswire/ -- Taylor Devices, Inc. (NASDAQ SmallCap: TAYD) announced today that it had 2nd quarter Net earnings of $306,423, down from last year's 2nd quarter earnings of $769,361.  Net earnings for the 1st six months were $507,686, also down from last year's earnings of $1,377,178.

Sales for the second quarter were $4,600,452, down from last year's 2nd quarter sales of $6,508,172.   Sales for the 1st six months were $9,897,118, also down from last year's sales of $13,824,839.

"During October & November, the company moved all of its production machinery to our new Buffalo Bolt Way site; the move was completed on November 18, 2013," stated Douglas P. Taylor, President.  He continued, "This caused an interruption of production with extensive lost time involved in the installation, leveling and set-up of the machines; as a result, second quarter shipments were down."  He concluded, "The good news is that our firm order backlog has increased to $16.5 million, compared to $13.1 million at the beginning of this fiscal year on June 1, 2013."

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.

2nd Quarter  (3 months ended 11/30/13 & 11/30/12)

F/Y 14

F/Y 13




Sales

$4,600,452

$6,508,172




Net Earnings

$  306,423

$   769,361




Earnings per Share

$          .09

$           .23




Shares Outstanding

3,322,424

3,309,841










Six Months (6 months ended 11/30/13 & 11/30/12)

F/Y 14

F/Y 13




Sales

$9,897,118

$13,824,839




Net Earnings

$   507,686

$  1,377,178




Earnings per Share

$           .15

$             .42




Shares Outstanding

3,326,245

3,309,924

 

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

 

SOURCE Taylor Devices, Inc.



RELATED LINKS
http://www.taylordevices.com

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