Taylor Devices Announces Strong Third Quarter And Nine Month Results

News provided by

Apr 11, 2013, 09:48 ET

NORTH TONAWANDA, N.Y., April 11, 2013 /PRNewswire/ -- Taylor Devices, Inc. (NASDAQ SmallCap: "TAYD") announced today that it had third quarter net earnings of $622,515, up from last year's third quarter earnings of $514,213. Net Earnings for the first nine months were $1,999,693, up significantly from last year's first nine months net earnings of $1,336,071.

Sales for the third quarter were $5,752,940, down from last year's third quarter sales of $8,008,836. Sales for the first nine months were $19,577,779, up from last year's $19,363,292.

"Our profitability is being helped by the expansion of our manufacturing facilities which we first announced in 2011," stated Douglas P. Taylor, President. He continued, "The work on two of our three new buildings has already been completed and we are expecting the third building to be finished this year." He concluded, "With our firm order backlog still at a healthy $11.7 million, 2013 will be another good year."

Taylor Devices, Inc. is a 58-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.

Third Quarter (3 months ended 02/28/13 & 02/29/12)	F/Y 13	F/Y 12

Sales	$ 5,752,940	$ 8,008,836

Net Earnings	$ 622,515	$ 514,213

Earnings per Share	$ .19	$ .16

Shares Outstanding	3,310,048	3,243,282


Nine Months (9 months ended 02/28/13 & 02/29/12)	F/Y 13	F/Y 12

Sales	$ 19,577,779	$ 19,363,292

Net Earnings	$ 1,999,693	$ 1,336,071

Earnings per Share	$ .60	$ .41

Shares Outstanding	3,310,171	3,249,471