NORTH TONAWANDA, N.Y., Jan. 14, 2011 /PRNewswire/ -- Taylor Devices, Inc. (Nasdaq SmallCap: TAYD) announced today that it had 2nd quarter sales of $4,525,002, up from last year's 2nd quarter sales of $3,488,797. Sales for the 1st six months were $8,801,825, also up from last year's sales of $8,502,470.
Net earnings for the 2nd quarter were $122,975, down from last year's 2nd quarter earnings of $501,891. Net earnings for the 1st six months were $307,613, also down from last year's earnings of $822,688.
"Pundits continue to declare that our recession ended months ago, however, the U.S. construction markets remain very constricted." stated Douglas P. Taylor, President. He continued, "While profit levels are lower due to a shift in products shipped away from aerospace towards seismic, we remain committed to maintaining profitability throughout the year." He concluded, "Our firm order backlog is now at $13 million, up significantly from the $11.4 million level that we reported this time last year."
Taylor Devices, Inc. is a 56-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.
2nd Quarter (3 months ended 11/30/10 & 11/30/09) F/Y 11 F/Y 10 --------------------------------------- ------ ------ Sales $4,525,002 $3,488,797 Net Earnings $122,975 $501,891 Earnings per Share $.04 $.16 Shares Outstanding 3,229,971 3,223,153 Six Months (6 months ended 11/30/10 & 11/30/09) F/Y 11 F/Y 10 ------------------------------------- ------ ------ Sales $8,801,825 $8,502,470 Net Earnings $307,613 $822,688 Earnings per Share $.10 $.26 Shares Outstanding 3,229,971 3,223,153 Taylor's website can be visited at: http://www.taylordevices.com/
Taylor Devices, Inc.
CONTACT: Artie Regan, Regan & Associates, Inc., +1-212-587-3005 (phone),
+1-212-587-3006 (fax), info@reganproxy.com
Web Site: http://www.taylordevices.com/
