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Taylor Devices Inc. (NASDAQ SmallCap: TAYD), incorporated in 1955, is a prominent manufacturer specializing in a variety of shock and vibration mitigation solutions. The company designs, develops, manufactures, and markets innovative products including shock absorbers, liquid springs, shock isolation systems, seismic dampers, vibration dampers, powerplant snubbers, and other hydro-mechanical energy management products.
Taylor Devices' extensive product line is used in a wide range of industries such as industrial manufacturing, steel mills, building construction, bridges, aerospace, defense, and automotive sectors. Their offerings include Seismic dampers, Fluidicshoks, Crane and industrial buffers, Self-adjusting shock absorbers, Liquid die springs, and Vibration Dampers. These products play a crucial role in absorbing, controlling, or mitigating the motion of masses caused by events like earthquakes or explosions.
In recent years, Taylor Devices has achieved significant milestones. On June 21, 2023, the company received ICC approval for its Taylor Damped Moment Frame™ (TDMF™), a revolutionary building design method that incorporates fluid dampers into new buildings in earthquake-prone areas. This innovation provides a simplified, prescriptive alternative to current building codes, potentially leading to safer and more cost-effective construction practices.
Financially, Taylor Devices has shown strong performance. For the 4th quarter of FY23, the company reported sales of $10,720,017, up from $9,657,530 the previous year. Full-year sales reached $40,199,354, significantly higher than the previous year's $30,866,582. The net income for the fiscal year also saw a remarkable increase from $2,239,423 to $6,287,358.
In the first quarter of FY24, Taylor Devices continued its growth trajectory with sales of $9,923,628, and net earnings of $1,847,863, marking a 9% year-on-year improvement. By the second quarter, sales for the first half of the fiscal year were $20,263,503, with net earnings climbing to $3,829,211. The third quarter saw record-breaking sales and earnings, further solidifying the company's robust financial health.
One of the company's strategic moves includes the repurchase of 459,015 shares from Ira Sochet at a discounted price, enhancing shareholder value while maintaining a strong balance sheet. Taylor Devices also boasts a firm order backlog of $35,500,000 as of the end of the second quarter of FY24, indicating continued demand for its products.
Overall, Taylor Devices Inc. continues to lead in innovation and financial performance within the shock and vibration control industry, targeting growth in the domestic aerospace and defense markets as well as global structural construction and industrial markets.
For more details and updates, visit the Taylor Devices website at www.taylordevices.com.
Taylor Devices (NASDAQ: TAYD) reported record Q1 FY25 results, with sales of $11,617,856, up 17% year-over-year, and net earnings of $2,666,655, a 44% increase from Q1 FY24. CEO Tim Sopko highlighted strong performance across all customer product groups, with Aerospace/Defense momentum offsetting headwinds in Structural markets. The firm order backlog stood at $28.4M, slightly above last year's Q1 and well ahead of the five-year Q1 average of $21.9M.
Taylor Devices, a 69-year-old company specializing in shock absorption and energy storage devices, continues to focus on growth strategies in domestic Aerospace and Defense markets, as well as global Structural Construction and Industrial markets. The company's earnings per share for Q1 FY25 were $0.85, compared to $0.52 in Q1 FY24, with 3,118,975 shares outstanding.
Taylor Devices (NASDAQ: TAYD) reported record-breaking financial results for fiscal year 2024. The company achieved full-year sales of $44.6 million, up from $40.2 million in FY23. Net income surged to $9 million (20.2% of sales), compared to $6.3 million (15.6%) last year. Fourth-quarter sales reached $12.1 million, with net income of $2.5 million. The firm order backlog hit a new high of $33.1 million entering FY25. CEO Tim Sopko attributed the success to the execution of profitable growth strategies and strong performance across all product groups, particularly in the Aerospace/Defense market. The company plans to continue investing in its team, technologies, and facilities to support future growth.
Taylor Devices, Inc. (TAYD) announced significant financial results for its 3rd quarter and first nine months of FY23. Sales reached $9,891,272, a 61% increase from $6,143,329 in the same quarter last year. Year-to-date sales totaled $29,479,337, up 39% from $21,209,052. The company reported net earnings of $1,658,887, recovering from a loss of $117,293 in the previous year. For the first nine months, net earnings were $4,220,766, up from $724,388. The firm order backlog stands at $27,800,000, indicating strong demand. These results highlight ongoing growth in Taylor’s key markets: Aerospace, Defense, Structural, and Industrial.
Taylor Devices, Inc. (TAYD) reported a 35% increase in 2nd quarter sales, reaching $10,497,366, compared to $7,757,986 in the same period last year. The 1st half sales grew 30% to $19,588,065. Net earnings surged to $1,559,508 in the 2nd quarter, up from $659,804 last year, with a 204% rise in net earnings for the first half at $2,561,879. With a firm order backlog of $18,100,000, the company also reported $12 million in additional orders booked in December 2022.
Taylor Devices, Inc. (NASDAQ: TAYD) reported significant growth in its first quarter ending August 31, 2022, with sales reaching $9,090,699, a 24% increase from $7,307,737 in the same period last year. Net earnings soared to $1,002,371, compared to $181,877, marking a 451% year-over-year rise. The firm order backlog was $23 million, up 19% from the previous year. The company's CEO highlighted the ability to manage supply chain challenges and expressed optimism for continued growth in the Aerospace and Defense markets.
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