NORTH TONAWANDA, N.Y.,
Aug. 2, 2019 /PRNewswire/
-- Taylor Devices, Inc. (NASDAQ SmallCap: "TAYD") announced
today that it had net earnings for the 4th quarter of
$982,390, up from last year's
4th quarter profit of $112,893. Net income for the full fiscal
year was $2,544,525 up substantially
from last year's full fiscal year net income of $443,370.
Sales for the 4th quarter were $9,013,282, up from last year's 4th
quarter sales of $6,410,815.
Sales of $33,619,031 for
the full year were up from last year's level of $24,363,967 and represents the second highest
revenue in corporate history.
"The execution and delivery this past year of the second highest
annual sales volume with concurrent third best net income in the
company's history is an accomplishment that the team is to be
commended on," said Tim Sopko, CEO. He concluded,
"Additionally, we were able to concurrently progress the lean
improvement initiatives in play that will not only positively
impact fiscal year 2020 but enable the continued growth of the
company path forward."
"After an exciting year with many new initiatives, significant
challenges and setting some higher corporate goals, we are happy to
announce dramatic improvements in revenue and net income. We
were targeting 2019 to be an improved and profitable year and our
team has delivered," said Alan
Klembczyk, President. He continued, "Furthermore, we
are continuing to build the team at all levels of the Company to
sustain that momentum and reach our long-term goals as well."
Taylor Devices, Inc. is a 63-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 5/31/19 &
5/31/18)
|
|
|
F/Y
19
|
|
|
F/Y
18
|
Sales
|
|
$
|
9,013,282
|
|
$
|
6,410,815
|
Net
Earnings
|
|
$
|
982,390
|
|
$
|
112,893
|
Earnings per
Share
|
|
$
|
.28
|
|
$
|
.04
|
Fiscal
Year
|
|
|
F/Y 19
|
|
|
F/Y 18
|
|
|
Sales
|
|
$
|
33,619,031
|
|
$
|
$24,363,967
|
|
|
Net
Earnings
|
|
$
|
2,544,525
|
|
$
|
$ 443,370
|
|
|
Earnings per
Share
|
|
$
|
.73
|
|
$
|
.13
|
|
|
Shares
Outstanding
|
|
|
3,478,559
|
|
|
3,466,267
|
|
|
Taylor's website can be visited at:
www.taylordevices.com ; with company newsletters and
other pertinent information at www.taylordevices.com/investors.
Taylor Devices,
Inc.
|
|
|
Contact:
|
Artie
Regan
|
|
Regan &
Associates, Inc.
|
|
(212) 587-3005
(phone)
|
|
(212) 587-3006
(fax)
|
|
main@reganproxy.com
|
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content:http://www.prnewswire.com/news-releases/taylor-devices-announces-fourth-quarter-and-full-year-results-300895847.html
SOURCE Taylor Devices, Inc.