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Espey Mfg. & Electronics Corp. (NYSE American: ESP) is a distinguished U.S.-based company specializing in the design, development, and manufacturing of power conversion systems, magnetics, and build-to-print products. Since its inception in 1928, Espey has established itself as a trusted partner in the defense and industrial markets, delivering high-performance solutions tailored to meet the demanding requirements of these sectors. With a strong emphasis on quality and innovation, the company operates out of a state-of-the-art 150,000+ square foot facility in Saratoga Springs, New York, where all design, manufacturing, and testing activities are vertically integrated under one roof.
Core Business Areas
Espey’s primary focus lies in the development and production of specialized military and industrial power supplies and transformers. These products are critical components in mission-critical applications, ensuring reliability and performance in some of the most challenging environments. The company’s capabilities extend to dynamic lifecycle management services, enabling customers to optimize the performance and longevity of their systems over time.
Operational Excellence
Espey combines the agility of a small business with the rigorous operational standards of a large enterprise. Its ISO AS9100 certification underscores its commitment to quality and compliance, particularly in the aerospace and defense sectors. The company’s vertically integrated manufacturing model allows for complete control over the production process, from initial design to final testing, ensuring unparalleled quality and reliability in every product.
Market Position and Competitive Edge
Operating as a U.S. Small Business Certified company, Espey leverages its domestic manufacturing capabilities to deliver high-quality, custom-engineered solutions. This vertical integration not only enhances quality control but also ensures supply chain reliability—a critical factor in the defense and industrial sectors. By adopting cutting-edge and emerging technologies, Espey remains at the forefront of innovation, addressing evolving market demands and maintaining a competitive edge against both larger defense contractors and smaller specialized firms.
Industry Significance
Espey plays a pivotal role in supporting national defense and industrial infrastructure through its specialized products and services. Its expertise in power conversion and magnetics is essential for applications that require precision, durability, and performance under extreme conditions. The company’s long-standing reputation, coupled with its focus on innovation and quality, positions it as a key player in its niche market.
Commitment to Innovation
Espey’s dedication to advancing technology is evident in its continuous investment in research and development. By integrating emerging technologies into its product offerings, the company not only meets current customer needs but also anticipates future challenges, ensuring its solutions remain relevant and effective.
Conclusion
With nearly a century of experience, Espey Mfg. & Electronics Corp. stands as a cornerstone in the defense and industrial markets. Its robust operational model, unwavering commitment to quality, and focus on innovation make it a reliable partner for mission-critical applications. By combining technical expertise with a customer-centric approach, Espey continues to deliver value through high-performance, custom-engineered solutions that meet the stringent demands of its industry.
The Board of Directors of Espey Mfg. & Electronics Corp. (NYSE AMERICAN: ESP) has reinstated a quarterly dividend of $0.10 per share. This dividend is set to be paid on March 31, 2023, to shareholders on record as of March 24, 2023. Espey specializes in the development and production of military and industrial power supplies and transformers. The company's focus on specialized products supports its market position, aligning with the needs of defense and industry sectors.
Espey Mfg. & Electronics Corp. (NYSE American: ESP) reported strong financial results for the second quarter of fiscal year 2023, with net sales of $8.8 million, up from $7.5 million in the same quarter last year. Net income surged to $1.1 million ($0.47 per diluted share) compared to just $21,201 ($0.01 per diluted share) a year prior. For the first half of fiscal 2023, net sales totaled $17.4 million, an increase from $15 million year-over-year, and net income rose to $1.9 million ($0.78 per diluted share) from $327,262 ($0.14 per diluted share). The company’s backlog reached $78.3 million as of December 31, 2022.
Espey Mfg. & Electronics Corp. (NYSE American: ESP) has received a $7.4 million funding award aimed at expanding its facilities and upgrading capital equipment for testing and qualification processes for the United States Navy. This initiative is part of the Navy's broader strategy to enhance the Surface Combatant Industrial Base. The expansion will take place at Espey's Saratoga Springs, NY site, with expected completion by 2024. Espey's core business includes the design and production of specialized military and industrial power supplies and transformers.
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