Taylor Devices Announces Strong Second Quarter and Six Month Results

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Jan 12, 2012, 10:00 ET

NORTH TONAWANDA, N.Y., Jan. 12, 2012 /PRNewswire/ -- Taylor Devices, Inc. (NASDAQ SmallCap: TAYD) announced today that it had 2nd quarter sales of $6,781,754, up significantly from last year's 2nd quarter sales of $4,525,002. Sales for the 1st six months were $11,354,456, also up from last year's sales of $8,801,825.

Net earnings for the 2nd quarter were $413,741, up sharply from last year's 2nd quarter earnings of $122,975. Net earnings for the 1st six months were $821,858, also up substantially from last year's earnings of $307,613.

"Our firm order backlog is now at a record $25 million; last year at this time it was $13 million. The product mix for this backlog is now approximately 19% aerospace/military with the remaining 81% comprised of commercial/seismic orders," stated Douglas P. Taylor, President. He concluded, "We are self funding a multi-year expansion plan that will more than double the Company's manufacturing space by the end of 2013."

Taylor Devices, Inc. is a 57-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.

2nd Quarter (3 months ended 11/30/11 & 11/30/10)	F/Y 12	F/Y 11

Sales	$6,781,754	$4,525,002

Net Earnings	$ 413,741	$ 122,975

Earnings per Share	$ .13	$ .04

Shares Outstanding	3,233,056	3,229,971

Six Months (6 months ended 11/30/11 & 11/30/10)	F/Y 12	F/Y 11

Sales	$11,354,456	$8,801,825

Net Earnings	$ 821,858	$ 307,613

Earnings per Share	$ .25	$ .10

Shares Outstanding	3,237,093	3,229,971