Taylor Devices Announces Strong Second Quarter And Six Month Results

Jan 12, 2016, 10:13 ET from Taylor Devices, Inc.

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)


info@reganproxy.com

 

SOURCE Taylor Devices, Inc.



RELATED LINKS

http://www.taylordevices.com