TAYLOR DEVICES ANNOUNCES FISCAL YEAR 2025 SECOND QUARTER AND FIRST HALF RESULTS

PR Newswire

NORTH TONAWANDA, N.Y., Jan. 3, 2025

NORTH TONAWANDA, N.Y., Jan. 3, 2025 /PRNewswire/ -- Taylor Devices, Inc. (NASDAQ SmallCap: "TAYD") announced today that it had 2(nd) quarter sales of $8,548,881, down from last year's 2(nd) quarter sales of $10,339,875 while sales for the 1(st) half of the fiscal year were $20,166,737, down slightly from last year's 1(st) half sales of $20,263,503.

Net earnings for the 2(nd) quarter were $1,056,160, down from last year's 2(nd) quarter net earnings of $1,981,348 with net earnings for the 1(st) half finishing at $3,722,815, down slightly from last year's 1(st) half net earnings of $3,829,211.

"While our FY25 2(nd) quarter sales finished down year on year, our 1(st) half sales finished just shy of last year's level," stated Tim Sopko, CEO. He continued, "The $20.2M of sales achieved by our Team in this H1 is the second highest H1 sales total in our Company's history and only slightly less than our record high H1 sales total of $20.3M which was set last fiscal year." He further commented, "Earnings for the 2(nd) quarter are down from last year's level, due predominantly to the lower sales volume, while the 1(st) half earnings, 18.5% as a percentage of sales, are more in line with last year's level, 18.9%." He continued, "Encouragingly, our firm order backlog has increased to $34.5M from the $33.1M we entered this year with despite the high H1 sales outflow." He concluded, "As we enter the 2(nd) half of our FY25, we will continue to aggressively target opportunities where our custom engineered products are critically needed and valued by our customers in all three of our chosen markets; Aerospace/Defense, Structural and Industrial, which we expect will continue to support our profitable growth going forward."

Taylor Devices, Inc. is a 69-year-old company engaged in the design, development, manufacture and marketing of shock absorption, rate control and energy storage devices for use in various types of vehicles, machinery, equipment and structures. The company continues to target growth in the domestic Aerospace and Defense market as well as global Structural Construction and Industrial markets.

 
 2(nd) Quarter (3 months ended 
 11/30/24 & 11/30/23)                              F/Y 25               F/Y 24 
------------------------------------  -------------------  ------------------- 
Sales                                      $    8,548,881        $  10,339,875 
Net Earnings                               $    1,056,160       $    1,981,348 
Earnings per Share                    $              0.34  $              0.56 
Shares Outstanding                              3,127,793            3,521,428 
 
 
1(st) Half (6 months ended 11/30/24 
& 11/30/23)                                        F/Y 25               F/Y 24 
------------------------------------  -------------------  ------------------- 
Sales                                       $  20,166,737        $  20,263,503 
Net Earnings                               $    3,722,815       $    3,829,211 
Earnings per Share                    $              1.19  $              1.09 
Shares Outstanding                              3,124,720            3,521,099 
 

Taylor's website can be visited at: www.taylordevices.com; with company newsletters and other pertinent information at www.taylordevices.com/investors.

Taylor Devices, Inc.

 
Contact:  Artie Regan 
          Regan & Associates, Inc. 
          (212) 587-3005 (phone) 
          (212) 587-3006 (fax) 
          main@reganproxy.com 
 

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SOURCE Taylor Devices, Inc.

(END) Dow Jones Newswires

January 03, 2025 06:45 ET (11:45 GMT)