Taylor Devices Announces First Quarter Results

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Oct 14, 2016, 09:31 ET

NORTH TONAWANDA, N.Y., Oct. 14, 2016 /PRNewswire/ -- Taylor Devices, Inc. (NASDAQ SmallCap: TAYD) announced today that it had 1^st quarter sales of $5,755,713, down from last year's 1^st quarter sales of $9,473,414.

Net earnings for the 1^st quarter were $209,834, also down from last year's 1^st quarter earnings of $1,009,649.

"It would be fair to say that our first quarter was a weak one," stated Douglas P. Taylor, President. He continued, "Our firm order backlog of $21.3 million at the end of the first quarter is down slightly from the year end level of $21.5 million on May 31, 2016." He concluded, "While our expectation is that 2017 will be another profitable year for us, it is conceivable that our numbers may not be as robust as last year's record high levels."

Taylor Devices, Inc. is a 61 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.

1^st Quarter (3 months ended 8/31/16 & 8/31/15)	F/Y 17	F/Y 16

Sales	$5,755,713	$9,473,414

Net Earnings	$ 209,834	$1,009,649

Earnings per Share	$ .06	$ .30

Weighted Average Shares Outstanding	3,412,858	3,365,821