SARATOGA SPRINGS, N.Y., Feb. 10, 2026 (GLOBE NEWSWIRE) -- Espey Mfg. & Electronics Corp. (NYSE American: ESP) announces results for the first six months of fiscal year 2026.
Sales for the second quarter of fiscal year 2026, ending December 31, 2025, were $12,136,903 compared to fiscal year 2025 second quarter sales of $13,608,740. Net income for the quarter was $2,805,109, $0.99 per diluted share, as compared to net income of $1,908,499, $0.71 per diluted share for the same quarter last year.
For the six months ending December 31,2025, net sales were $21,229,779, compared to $24,051,958 for the first six months of fiscal year 2025. Net income for the period was $4,974,945, $1.75 per diluted share, compared with net income of $3,506,816, $1.32 per diluted share, for the same period last year.
The backlog for the Company was $134.7 million at December 31, 2025, compared with last year's backlog of approximately $120.1 million at December 31, 2024. New orders in the first six months of fiscal year 2026 were $16.3 million, compared to new orders in the first six months of fiscal year 2025 of approximately $46.9 million, which included $29.5 million in multi-year contract awards.
Mr. David O'Neil, President and CEO, commented,
We delivered solid margins, made meaningful progress across key programs, and continue to see encouraging trends as we move through the year. We experienced some top-line impacts from factors outside of our control that resulted in a timing shift for certain deliverables. We are working closely with our customers and vendors to execute on these milestones in the second half of the year and remain on pace to deliver better results than the prior year. Our performance reflects the underlying strength of our business and disciplined execution against our strategic priorities. I would like to congratulate and thank our employees for their dedication, collaboration, and continued focus, which positions us well for sustained momentum.
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.
