NORTH TONAWANDA, N.Y.,
Aug. 29, 2017 /PRNewswire/
-- Taylor Devices, Inc. (NASDAQ SmallCap: "TAYD")
announced today that it had net earnings for the 4th
quarter of $844,260, down from last
year's 4th quarter profit of $1,092,314. Net income for the full fiscal
year was $2,330,577, also down from
last year's full fiscal year net income of $4,208,225 which was an all-time record.
Sales for the 4th quarter of $6,301,098, were down from last year's
4th quarter sales of $9,061,340. Sales of $25,536,996 for the full year were also down from
last year's level of $35,680,449,
which was also an all-time record.
"As I said after our third quarter results, our previous fiscal
year (2016) was so outstanding, year-to-year comparisons are
difficult; that fact continues to be true," stated Douglas P. Taylor, President. He
continued, "While we did not have record breaking results this
year, our sales were the fourth highest in Company history and our
earnings were the third highest in our Company history." He
continued, "When the outlook for the U.S. economy becomes more
certain, we expect our seismic sales to pick-up; our firm order
backlog of $21.6 million is also up
slightly from the $21.5 million level
it was at exactly one year ago."
He continued, "With our recent major construction projects
mostly behind us, we are now able to manufacture & ship the
largest dampers that we have ever made." He concluded, "We
anticipate that 2018 will be yet another profitable &
successful year."
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.
4th
Quarter (3 months ended 5/31/17 &
5/31/16)
|
F/Y 17
|
F/Y 16
|
|
|
|
Sales
|
$6,301,098
|
$9,061,340
|
|
|
|
Net
Earnings
|
$
844,260
|
$1,092,314
|
|
|
|
Earnings per
Share
|
$
.24
|
$
.31
|
|
|
|
Shares
Outstanding
|
3,439,682
|
3,408,260
|
|
|
|
|
|
|
|
|
|
Fiscal
Year
|
F/Y 17
|
F/Y 16
|
|
|
|
Sales
|
$25,536,996
|
$35,680,449
|
|
|
|
Net
Earnings
|
$
2,330,577
|
$
4,208,225
|
|
|
|
Earnings per
Share
|
$
.66
|
$
1.21
|
|
|
|
Shares
Outstanding
|
3,439,682
|
3,408,260
|
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
View original
content:http://www.prnewswire.com/news-releases/taylor-devices-announces-fourth-quarter-and-full-year-results-300510781.html
SOURCE Taylor Devices, Inc.