NORTH TONAWANDA, N.Y.,
Dec. 29, 2021 /PRNewswire/
-- Taylor Devices, Inc. (NASDAQ SmallCap: "TAYD") announced
today that it had 2nd quarter Net earnings of
$659,804, up slightly from last
year's 2nd quarter Net earnings of $645,290. Net earnings for the
1st six months were $841,681, also up slightly from last year's Net
earnings for the 1st six months of $821,301.
Sales for the 2nd quarter were $7,757,986, up 64% from last year's
2nd quarter sales of $4,717,597. Sales for the 1st
six months were $15,065,723, up 44%
from last year's 1st six-month sales of $10,477,054.
"Our FY22 2nd quarter and 1st Half sales finished not only
significantly better than last year's levels respectively but also
in line with more recent pre-pandemic sales volumes," stated
Tim Sopko, CEO. He further
commented, "These higher volumes, including increased sales to our
domestic customers, resulted in improved Net earnings from last
year's levels despite the unprecedented material and labor cost
escalations that we continue to see due to COVID-19." He continued,
"While we are clearly not out of the COVID-19 "woods" yet, our
customers and the markets we serve continue to show signs of
recovery which is encouraging."
He concluded, "As we turn the half-way point of our fiscal year,
our priorities continue to be the health and safety of our
employees and their families while we continue to deliver our
critically needed components to our customers on time."
The company's firm order backlog was $17,000,000 at the end of the 1st six months of
this fiscal year as compared to $15,400,000 at the end of the 1st six months last
fiscal year.
Taylor Devices, Inc. is a 66-year old company engaged in the
design, development, manufacture and marketing of shock absorption,
rate control and energy storage devices for use in various types of
vehicles, machinery, equipment and structures. The company
continues to target growth in the domestic Aerospace and Defense
market as well as global Structural Construction and Industrial
markets.
2nd
Quarter (3 months ended 11/30/21 &
11/30/20)
|
F/Y 22
|
F/Y 21
|
Sales
|
$7,757,986
|
$4,717,597
|
Net
Earnings
|
$
659,804
|
$
645,290
|
Earnings per
Share
|
$
0.19
|
$
0.19
|
Shares
Outstanding
|
3,496,610
|
3,487,241
|
|
|
|
1st Half
(6 months ended 11/30/21 & 11/30/20)
|
F/Y
22
|
F/Y 21
|
Sales
|
$15,065,723
|
$10,477,054
|
Net
Earnings
|
$ 841,681
|
$ 821,301
|
Earnings per
Share
|
$
0.24
|
$
0.24
|
Shares
Outstanding
|
3,496,697
|
3,487,397
|
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:https://www.prnewswire.com/news-releases/taylor-devices-announces-second-quarter-and-six-month-results-301451467.html
SOURCE Taylor Devices, Inc.