SARATOGA SPRINGS, N.Y., Sept. 16, 2025 (GLOBE NEWSWIRE) -- Espey Mfg. & Electronics Corp. (NYSE American: ESP) announces results for its fourth quarter and fiscal year, ended June 30, 2025.
For the fiscal year ended June 30, 2025, the Company reported net sales of $43,950,872 compared with $38,736,319 for the fiscal year ended June 30, 2024. Net income for the year was $8,142,954, $3.02 per diluted share, compared with net income of $5,815,140, $2.29 per diluted share, for the fiscal year ended June 30, 2024. At June 30, 2025, the backlog was $139.7 million, compared to last year's backlog of $97.2 million at June 30, 2024.
For the fourth quarter ended June 30, 2025, net sales were $9,596,194 compared with last year's fourth quarter net sales of $11,610,911. The net income for the fourth quarter ended June 30, 2025 was $2,931,651, $1.05 per diluted share, compared with net income of $1,893,296, $0.73 per diluted share, for the corresponding period last year.
In addition, new orders for the fiscal year ended June 30, 2025 were $86.4 million compared with approximately $52.4 million for the corresponding period last year.
Mr. David O'Neil, President and CEO, commented,
"The year brought meaningful results, thanks to the hard work and focus of our entire team. We saw steady revenue growth fueled by strong execution and lasting customer relationships. Our backlog is at record levels, and new orders were very strong. This success belongs to our employees, and is a moment worth celebrating.
As we begin the next fiscal year, we continue to invest in our people and our products, with the goal of building long-term value.
I want to sincerely thank our team for their dedication and our investors and shareholders for their ongoing support."
Espey's primary business is the development, design, and production of specialized military and industrial power supplies/transformers. The Company can be found on the Internet at www.espey.com.
For further information, contact Ms. Kaitlyn O'Neil at invest@espey.com.
This press release may contain certain statements that are "forward-looking statements" and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements represent the Company's current expectations or beliefs concerning future events. The matters covered by these statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those set forth in the forward-looking statements. The Company wishes to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made.
