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Taylor Devices Announces Third Quarter and Nine Month Results

NORTH TONAWANDA, N.Y., April 11, 2014 /PRNewswire/ -- Taylor Devices, Inc.  (NASDAQ SmallCap: "TAYD") announced today that it had third quarter net earnings of $222,236, down from last year's third quarter earnings of $622,515.   Net Earnings for the first nine months were $729,922, also down from last year's first nine months net earnings of $1,999,693.

Sales for the third quarter were $4,810,355, down from last year's third quarter sales of $5,752,940.  Sales for the first nine months were $14,707,473, also down from last year's $19,577,779.

"Production disruptions in connection with the moving of our machinery into our Buffalo Bolt Way site continued to impact shipments into our third quarter," stated Douglas P. Taylor, President.  He continued, "However, by February, shipping levels improved and revenue recorded in that month reached an annualized rate of $25 million."  He concluded, "Our firm order backlog is now at $18.5 million, an improvement of $6.8 million when compared to the $11.7 million figure reported, one year ago."

Taylor Devices, Inc. is a 59-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 02/28/14 & 02/28/13)  

F/Y 14

F/Y 13




Sales                                 

$4,810,355

$5,752,940




Net Earnings                            

$   222,236

$   622,515




Earnings per Share                       

$          .07

$          .19




Nine Months (9 months ended 02/28/14 & 02/28/13)   

F/Y 14

F/Y 13




Sales                                           

$14,707,473

$19,577,779




Net Earnings                                   

$   729,922

$1,999,693




Earnings per Share                          

$          .22

$          .60




Shares Outstanding                       

3,333,964

3,310,171

Taylor's website can be visited at:  www.taylordevices.com

Taylor Devices, Inc.

 

SOURCE Taylor Devices, Inc.

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