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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, 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.
Taylor Devices, Inc. (TAYD) reported a strong financial performance for Q4 and the fiscal year 2022. Q4 sales surged to $9,657,530, up from $7,260,216, while total annual sales reached $30,866,582, significantly higher than last year's $22,509,641. Net income for Q4 rose to $1,515,034 compared to $59,276 last year, with annual net income at $2,239,423 vs. $1,062,895. Despite challenges with material cost increases, the company holds a strong order backlog of $23.7 million entering FY23, indicating solid growth prospects.
Taylor Devices, Inc. (TAYD) reported a net loss of $117,293 in the 3rd quarter, compared to net earnings of $182,318 last year. However, quarterly sales rose to $6,143,329, up 29% year-over-year. For the first nine months, net earnings decreased to $724,388 from $1,003,619, while sales increased 39% to $21,209,052. CEO Tim Sopko highlighted challenges due to increased material and labor costs, alongside the absence of prior government financial assistance. The firm order backlog is currently $17,400,000.
Taylor Devices, Inc. (TAYD) reported net earnings of $659,804 for Q2 FY22, a slight increase from $645,290 in the same quarter last year. Total sales surged to $7,757,986, up 64% from $4,717,597 in Q2 FY21. For the first half, net earnings reached $841,681, up from $821,301, with sales climbing to $15,065,723 from $10,477,054.
The order backlog stood at $17,000,000, reflecting growth compared to last year.
Taylor Devices, Inc. (NASDAQ: TAYD) reported a 1st quarter sales increase to $7,307,737, up from $5,759,457 year-over-year. Net earnings rose slightly to $181,877 compared to $176,011 in the previous year. Despite sales growth, profit margins were pressured by material and labor cost increases due to COVID-19. The company’s firm order backlog improved significantly to $19,400,000 from $10,300,000 a year prior, indicating positive market recovery prospects.
Taylor Devices, Inc. (NASDAQ: TAYD) announced a partnership with Thornton Tomasetti to manufacture and distribute the innovative Pumpkin™ Mounts absorber. These mounts are designed for shock and vibration isolation in critical systems, outperforming standard devices by withstanding extreme forces and reducing noise. The mounts can significantly lower input accelerations in naval environments, making them suitable for various applications. Taylor Devices aims to enhance equipment protection during shock and vibration events through this new technology, further solidifying its position in the industry.
Taylor Devices, Inc. (TAYD) reported a net earnings drop for the 3rd quarter of fiscal year 2021, totaling $182,318, a significant decline from $782,752 in the same period last year. Sales also fell to $4,772,371 compared to $7,234,195 last year. For the first nine months, net earnings reached $1,003,619, down from $2,054,335 previously. Despite lower earnings, the company saw a rise in bookings and has a firm order backlog of $18,800,000, up from $14,600,000 last year.
Taylor Devices, Inc. (TAYD) reported a decline in both sales and net earnings for its 2nd quarter and the first six months of fiscal year 2021. Net earnings dropped to $645,290 for Q2, down from $917,006 last year. Sales decreased to $4,717,597 in Q2 compared to $7,702,425 from the previous year. For the first half, net earnings were $821,301, down from $1,271,583, with total sales at $10,477,054. The company attributes lower sales to order delays due to the COVID-19 pandemic, while a PPP loan helped maintain workforce stability.
Taylor Devices, Inc. (TAYD) reported Q1 sales of $5,759,457, a slight increase from $5,708,639 in the same quarter last year. However, net earnings fell to $176,011, down from $354,577 year-over-year, driven by lower margins due to competitive dynamics and tariffs in Asia. CEO Tim Sopko noted that order placement delays related to the COVID-19 pandemic negatively impacted sales volume. The company remains well-positioned with a strong balance sheet and diversified portfolio, targeting growth in Aerospace, Defense, and Industrial markets.
Taylor Devices, Inc. (NASDAQ: TAYD) reported a slight dip in net earnings for Q4 2020, with profits of $975,641 compared to $982,390 in Q4 2019. Despite this, the full fiscal year net income rose to $3,029,976, marking an increase from $2,544,525 the previous year. Q4 sales fell to $7,736,282 from $9,013,282, while annual sales also declined to $28,381,541 from $33,619,031. The CEO attributed these declines to tariffs and the impact of the COVID-19 pandemic but highlighted improved profit margins. The company remains optimistic due to diversified product offerings.
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