NORTH TONAWANDA, N.Y.,
Oct. 14, 2016 /PRNewswire/ -- Taylor
Devices, Inc. (NASDAQ SmallCap: TAYD) announced today that it
had 1st quarter sales of $5,755,713, down from last year's 1st
quarter sales of $9,473,414.
Net earnings for the 1st quarter were $209,834, also down from last year's
1st quarter earnings of $1,009,649.
"It would be fair to say that our first quarter was a weak one,"
stated Douglas P. Taylor,
President. He continued, "Our firm order backlog of
$21.3 million at the end of the first
quarter is down slightly from the year end level of $21.5 million on May 31,
2016." He concluded, "While our expectation is that 2017
will be another profitable year for us, it is conceivable that our
numbers may not be as robust as last year's record high
levels."
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.
|
1st
Quarter (3 months ended 8/31/16 &
8/31/15)
|
F/Y 17
|
F/Y 16
|
|
|
|
|
Sales
|
$5,755,713
|
$9,473,414
|
|
|
|
|
Net
Earnings
|
$
209,834
|
$1,009,649
|
|
|
|
|
Earnings per
Share
|
$
.06
|
$
.30
|
|
|
|
|
Weighted Average
Shares Outstanding
|
3,412,858
|
3,365,821
|
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-first-quarter-results-300345049.html
SOURCE Taylor Devices, Inc.