NORTH TONAWANDA, N.Y.,
Aug. 29, 2018 /PRNewswire/ -- Taylor
Devices, Inc. (NASDAQ SmallCap: "TAYD") announced today that
it had net earnings for the 4th quarter of $112,893, down from last year's 4th
quarter profit of $844,260. Net
income for the full fiscal year was $443,370, also down from last year's full fiscal
year net income of $2,330,577.
Sales for the 4th quarter of $6,410,815, up from last year's 4th
quarter sales of $6,301,098.
Sales of $24,363,967 for the full
year were down from last year's level of $25,536,996.
"This past fiscal year was marked by transition and
rejuvenation; we recently replaced three directors and have new
leadership." stated Alan R.
Klembczyk, President. He continued, "While our overall
results for FY2018 were unacceptable, sales did improve in the
4th quarter and we announced the $7.51 million order for dampers on the San
Francisco-Oakland Bay Bridge, the largest in Company
history." He continued, "We are now operating in a lower
corporate tax rate environment; our firm order backlog of
$23.1 million is also up from the
$21.6 million level it was at exactly
one year ago."
He continued, "With our recent major transformation behind us,
we are now focusing on the future by incorporating new strategies
and capitalizing on new opportunities." He concluded, "We
expect 2019 to be a profitable & dynamic year."
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 5/31/18 & 5/31/17)
|
F/Y 18
|
F/Y 17
|
Sales
|
$6,410,815
|
$6,301,098
|
Net
Earnings
|
$
112,893
|
$
844,260
|
Earnings per
Share
|
$
.04
|
$
.24
|
Shares
Outstanding
|
3,466,267
|
3,439,682
|
Fiscal
Year
|
F/Y 18
|
F/Y 17
|
Sales
|
$24,363,967
|
$25,536,996
|
Net
Earnings
|
$
443,370
|
$
2,330,577
|
Earnings per
Share
|
$
.13
|
$
.66
|
Shares
Outstanding
|
3,466,267
|
3,439,682
|
Taylor's website can be visited at: www.taylordevices.com;
with company newsletters at
www.taylordevices.com/press-releases.html. Additional
information can also be found at www.seismicdamper.com.
Taylor Devices, Inc.
Contact:
|
Artie
Regan
|
|
Regan &
Associates, Inc.
|
|
(212) 587-3005
(phone)
|
|
(212) 587-3006
(fax)
|
|
info@reganproxy.com
|
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content:http://www.prnewswire.com/news-releases/taylor-devices-announces-fourth-quarter-and-full-year-results-300704324.html
SOURCE Taylor Devices, Inc.