Taylor Devices Announces Strong First Quarter Results

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Oct 14, 2014, 09:48 ET

NORTH TONAWANDA, N.Y., Oct. 14, 2014 /PRNewswire/ -- Taylor Devices, Inc. (NASDAQ SmallCap: TAYD) announced today that it had 1^st quarter sales of $6,551,382, up significantly from last year's 1^st quarter sales of $5,296,666.

Net earnings for the 1^st quarter were $392,306, up sharply from last year's 1^st quarter earnings of $201,263.

"The issues related to lost production hours involving our new manufacturing facility have essentially been addressed," stated Douglas P. Taylor, President. He continued, "Our firm order backlog is now at a very healthy $24.1 million, which is $8.7 million higher than our year ago level." He concluded, "With sales to Asia growing, we expect both increased revenues and improved profitability in 2015."

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.

1^st Quarter (3 months ended 8/31/14 & 8/31/13)	F/Y 15	F/Y 14

Sales	$6,551,382	$5,296,666

Net Earnings	$ 392,306	$ 201,263

Earnings per Share	$ .12	$ .06

Weighted Average Shares Outstanding	3,342,934	3,318,602