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Taylor Devices Announces Fourth Quarter And Full Year Results

NORTH TONAWANDA, N.Y., Aug. 29, 2014 /PRNewswire/ -- Taylor Devices, Inc.  (NASDAQ SmallCap: TAYD) announced today that sales for the 4th quarter were $5,303,755, up from last year's 4th quarter sales of $5,151,806.  Sales for the full year were $20,011,228, down from last year's level of $24,729,585

Net earnings for the 4th quarter were $401,290, down from last year's 4th quarter profit of $548,101. Net income for the full fiscal year was $1,131,212, down from last year's all-time, full fiscal year net income record of $2,547,794.

"The clearest story is told by our firm order backlog of $24.6 million at year-end; up from $13.1 million reported one year ago," stated Douglas P. Taylor, President.  He continued, "Lost production hours related to the start-up of our new manufacturing facilities impacted both sales and income during this last year."  He concluded, "With our fourth quarter shipments exceeding 2013 by a modest amount, we believe the Company is now back on track for future growth."

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.

 

4th Quarter  (3 months ended 5/31/14 & 5/31/13)    

F/Y 13-14

F/Y 12-13




Sales

$5,303,755

$5,151,806




Net Earnings

$   401,290

$   548,101




Earnings per Share

$           .12

$           .17




Shares Outstanding

3,342,816

3,311,035

 

 

Fiscal Year                       

F/Y 13-14

F/Y 12-13




Sales               

$20,011,228

$24,729,585




Net Earnings                    

$  1,131,212

$  2,547,794




Earnings per Share                

$             .34

$             .77




Shares Outstanding                 

3,342,816

3,311,035

 

Taylor's website can be visited at: www.taylordevices.com

Contact: 

Artie Regan


Regan & Associates, Inc.


(212) 587-3005 (phone)


(212) 587-3006 (fax)


[email protected]

 

SOURCE Taylor Devices, Inc.

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