Taylor Devices Announces Strong Fourth Quarter And Record Full Year Results

NORTH TONAWANDA, N.Y., Aug. 29, 2016 /PRNewswire/ -- Taylor Devices, Inc.  (NASDAQ SmallCap: "TAYD") announced today that it had net earnings for the 4^th quarter of $1,092,314, up from last year's 4^th quarter profit of $886,575.  Net income for the full fiscal year was an all-time record $4,208,225, and almost double last year's full fiscal year net income of $2,174,948.

Sales for the 4^th quarter of $9,061,340, were down from last year's 4^th quarter sales of $10,766,451.  Sales for the full year were another all-time record of $35,680,449, and were up significantly from last year's previous all-time record level of $30,589,266. 

"We were able to achieve all-time records in both sales and net earnings while maintaining a healthy firm order backlog of $21.5 million at year's end," stated Douglas P. Taylor, President.  He continued, "The two construction projects at our Tonawanda Island site will be completed shortly and we will then be in a position to manufacture & ship the largest dampers we have ever made."  He concluded, "We expect that 2017 will be another profitable & successful year, as well."

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.

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)
[email protected]

SOURCE Taylor Devices, Inc.

Related Links

http://www.taylordevices.com