NORTH TONAWANDA, N.Y.,
Aug. 29, 2016 /PRNewswire/ -- Taylor Devices, Inc.
(NASDAQ SmallCap: "TAYD") announced today that it had net earnings
for the 4th quarter of $1,092,314, up from last year's 4th
quarter profit of $886,575. Net
income for the full fiscal year was an all-time record $4,208,225, and almost double last year's full
fiscal year net income of $2,174,948.
Sales for the 4th quarter of $9,061,340, were down from last year's
4th quarter sales of $10,766,451. Sales for the full year were
another all-time record of $35,680,449, and were up significantly from last
year's previous all-time record level of $30,589,266.
"We were able to achieve all-time records in both sales and net
earnings while maintaining a healthy firm order backlog of
$21.5 million at year's end," stated
Douglas P. Taylor, President.
He continued, "The two construction projects at our Tonawanda Island site will be completed shortly
and we will then be in a position to manufacture & ship the
largest dampers we have ever made." He concluded, "We expect
that 2017 will be another profitable & successful year, as
well."
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.
|
|
|
|
4th
Quarter (3 months ended 5/31/16 &
5/31/15)
|
F/Y
16
|
|
F/Y 15
|
|
|
|
|
Sales
|
$
9,061,340
|
|
$10,766,451
|
|
|
|
|
Net
Earnings
|
$
1,092,314
|
|
$
886,575
|
|
|
|
|
Earnings per
Share
|
$
.31
|
|
$
.26
|
|
|
|
|
Shares Outstanding at
5/31/16
|
3,408,260
|
|
3,363,664
|
|
|
|
|
Fiscal
Year
|
F/Y
16
|
|
F/Y 15
|
|
|
|
|
Sales
|
$35,680,449
|
|
$30,589,266
|
|
|
|
|
Net
Earnings
|
$
4,208,225
|
|
$
2,174,948
|
|
|
|
|
Diluted Earnings
per
Share
|
$
1.21
|
|
$
.64
|
|
|
|
|
Shares Outstanding at
5/31/16
|
3,408,260
|
|
3,363,664
|
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
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/taylor-devices-announces-strong-fourth-quarter-and-record-full-year-results-300319267.html
SOURCE Taylor Devices, Inc.