NORTH TONAWANDA, N.Y.,
April 13, 2017 /PRNewswire/
-- Taylor Devices, Inc. (NASDAQ SmallCap: "TAYD")
announced today that it had third quarter net earnings of
$338,203, down from last year's third
quarter earnings of $1,181,604. Net Earnings for the
first nine months were $1,486,317,
also down from last year's first nine months' net earnings of
$3,115,911.
Sales for the third quarter were $5,672,720, down from last year's third quarter
sales of $8,326,147. Sales for the
first nine months were $19,235,898,
also down from last year's $26,619,109.
"Our previous fiscal year (2016) was so outstanding,
year-to-year comparisons are difficult; in fact, our 2016 earnings
were 65% better than our previous record high," stated Douglas P. Taylor, President. He
continued, "While we will not have record breaking results this
year, both our sales & earnings, through three quarters, are
higher than their respective four-year averages prior to last
year's record levels." He continued, "Revenue from recent
defense and seismic projects awarded will materialize starting in
fiscal 2018 and our firm order backlog of $19.5 million is the exact same level as one year
ago."
He continued, "This summer, a 15th anniversary
celebration of London's Millennium
(Pedestrian) Bridge's re-opening will be held as part of the
24th International Conference on Sound and Vibration
(ICSV24); presentations describing the addition of Taylor Devices'
dampers to the bridge will be made at the conference." He
concluded, "Additional information on the Millennium Bridge
retrofit is available on our web site at:
taylordevices.com/papers/damper/damper.pdf."
Taylor Devices, Inc. is a 62 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 02/28/17 & 02/29/16)
|
F/Y
17
|
|
|
F/Y
16
|
|
|
|
|
|
Sales
|
$5,672,720
|
|
|
$8,326,147
|
|
|
|
|
|
Net
Earnings
|
$
338,203
|
|
|
$1,181,604
|
|
|
|
|
|
Earnings per
Share
|
$
.10
|
|
|
$
.35
|
|
|
|
|
|
Nine Months (9 months
ended 02/28/17 & 02/29/16)
|
F/Y 17
|
|
|
F/Y 16
|
|
|
|
|
|
Sales
|
$19,235,898
|
|
|
$26,619,109
|
|
|
|
|
|
Net
Earnings
|
$1,486,317
|
|
|
$3,115,911
|
|
|
|
|
|
Earnings per
Share
|
$
.43
|
|
|
$
.92
|
|
|
|
|
|
Shares
Outstanding
|
3,431,312
|
|
|
3,397,613
|
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-third-quarter-and-nine-month-results-300439364.html
SOURCE Taylor Devices, Inc.