NORTH TONAWANDA, N.Y., Oct. 14, 2014 /PRNewswire/ -- Taylor Devices, Inc. (NASDAQ SmallCap: TAYD) announced today that it had 1st quarter sales of $6,551,382, up significantly from last year's 1st quarter sales of $5,296,666.
Net earnings for the 1st quarter were $392,306, up sharply from last year's 1st 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.
1st 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 |
Taylor's website can be visited at: www.taylordevices.com
Taylor Devices, Inc.
Contact: |
Artie Regan |
Regan & Associates, Inc. |
|
(212) 587-3005 (phone) |
|
(212) 587-3006 (fax) |
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SOURCE Taylor Devices, Inc.
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