Taylor Devices Announces Strong Second Quarter And Six Month Results
NORTH TONAWANDA, N.Y., Jan. 12, 2016 /PRNewswire/ -- Taylor Devices, Inc. (NASDAQ SmallCap: TAYD) announced today that it had 2nd quarter Net earnings of $924,658, up significantly from last year's 2nd quarter earnings of $504,313. Net earnings for the 1st six months were $1,934,307, also up sharply from last year's earnings of $896,619.
Sales for the second quarter were $8,819,548, up from last year's 2nd quarter sales of $6,705,095. Sales for the 1st six months were $18,292,962, also up substantially from last year's sales of $13,256,477.
"We are receiving new seismic orders for dampers that are quite frankly larger than ones we have previously manufactured & shipped," stated Douglas P. Taylor, President. He continued, "To that end, we have started a new 10,000 square foot addition to 90 Taylor Drive for the testing & assembly of seismic products; we hope to have the related construction completed by next year." He concluded, "Our sales are continuing at a record pace and all indications suggest that we will have another strong year."
Taylor Devices, Inc. is a 61 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 11/30/15 & 11/30/14) |
F/Y 16 |
F/Y 15 |
||
Sales |
$ |
8,819,548 |
$ |
6,705,095 |
|
Net Earnings |
$ |
924,658 |
$ |
504,313 |
|
Earnings per Share |
$ |
.27 |
$ |
.15 |
|
Shares Outstanding |
3,370,018 |
3,343,137 |
|||
Six Months |
(6 months ended 11/30/15 & 11/30/14) |
F/Y 16 |
F/Y 15 |
||
Sales |
$ |
18,292,962 |
$ |
13,256,477 |
|
Net Earnings |
$ |
1,934,307 |
$ |
896,619 |
|
Earnings per Share |
$ |
.57 |
$ |
.27 |
|
Shares Outstanding |
3,374,214 |
3,343,340 |
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) |
|
SOURCE Taylor Devices, Inc.
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