Taylor Devices Announces Strong Third Quarter and Nine Month Results

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Apr 12, 2012, 10:51 ET

NORTH TONAWANDA, N.Y., April 12, 2012 /PRNewswire/ -- Taylor Devices, Inc. (NASDAQ SmallCap: TAYD) announced today that it had third quarter net earnings of $514,213, up from last year's third quarter earnings of $386,100. Net Earnings for the first nine months were $1,336,071, up sharply from last year's first nine months net earnings of $693,713.

Sales for the third quarter were $8,008,836, up significantly from last year's third quarter sales of $4,979,343. Sales for the first nine months were $19,363,292, also up substantially from last year's $13,781,168.

"Our firm order backlog continues to be very strong; it is currently at $23 million up significantly from the $13.6 million level reported in the year ago period," stated Douglas P. Taylor, President. He continued, "Sales of both seismic and aerospace products are increasing and we expect our performance to continue through the balance of the fiscal year." He concluded, "Our previously disclosed, self funded expansion of our manufacturing space is proceeding on schedule and we expect the first of the three buildings being renovated to be fully in service by the summer of 2012."

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.

Third Quarter (3 months ended 02/29/12 & 02/28/11)	F/Y 12	F/Y 11

Sales	$8,008,836	$4,979,343

Net Earnings	$514,213	$386,100

Earnings per Share	$.16	$.12

Shares Outstanding	3,280,848	3,225,759

Nine Months (9 months ended 02/29/12 & 02/28/11)	F/Y 12	F/Y 11

Sales	$19,363,292	$13,781,168

Net Earnings	$1,336,071	$693,713

Earnings per Share	$.41	$.21

Shares Outstanding	3,280,848	3,225,759