Taylor Devices Announces Second Quarter and Six Month Results

Jan 14, 2010, 10:19 ET from Taylor Devices, Inc.

NORTH TONAWANDA, N.Y., Jan. 14 /PRNewswire-FirstCall/ -- Taylor Devices, Inc.  (Nasdaq SmallCap: TAYD) announced today that it had 2nd quarter sales of $3,488,797, down from last year's 2nd quarter sales of $3,757,731.  Sales for the 1st six months were $8,502,470, down slightly from last year's sales of $8,561,233.

Net earnings for the 2nd quarter were $501,891, up sharply from last year's 2nd quarter earnings of $55,365.  Net earnings for the 1st six months were $822,688, up significantly from last year's earnings of $204,017.

"Our firm order backlog has increased again to $11.4 million, up from the $10.1 million level we reported this time last year, while our sales for the 1st six months were down only approximately $59,000," stated Douglas P. Taylor, President.  He continued, "Our aerospace/military shipments remain strong, however, the continuing global economic landscape is still putting downward pressure on the construction markets."  He concluded, "Our previously stated expectation of improved profitability for this fiscal year is being realized."

Taylor Devices, Inc. is a 55-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 11/30/09 & 11/30/08)

F/Y 10

F/Y 09




Sales

$3,488,797

$3,757,731




Net Earnings

$501,891

$55,365




Earnings per Share

$.16

$.02




Shares Outstanding

3,223,153

3,220,525







Six Months (6 months ended 11/30/09 & 11/30/08)

F/Y 10

F/Y 09




Sales

$8,502,470

$8,561,233




Net Earnings

$822,688

$204,017




Earnings per Share

$.26

$.06




Shares Outstanding

3,223,153

3,220,525





Taylor's website can be visited at:  www.taylordevices.com

SOURCE Taylor Devices, Inc.



RELATED LINKS

http://www.taylordevices.com