NORTH TONAWANDA, N.Y., April 13 /PRNewswire-FirstCall/ -- Taylor Devices, Inc. (Nasdaq SmallCap: TAYD) announced today that it had third quarter net earnings of $324,774, up dramatically from last year's third quarter earnings of $31,346. Net Earnings for the first nine months were $1,147,461, up significantly from last year's first nine months net earnings of $235,363.
Sales for the third quarter were $4,783,353, up substantially from last year's third quarter sales of $3,718,629. Sales for the first nine months were $13,285,823, up from last year's $12,279,862.
"Three months ago, our firm order backlog was at a $11.4 million level and now it is $13 million," stated Douglas P. Taylor, President. He continued, "Aerospace & defense sales remain strong and our commercial & construction industry sales have recently started to improve from 2009 levels." He concluded, "Our previously stated expectation of improved profitability for the full fiscal year is materializing as planned."
Taylor Devices, Inc. is a 55-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.
Third Quarter (3 months ended 02/28/10 & 02/28/09) F/Y 10 F/Y 09 Sales $4,783,353 $3,718,629 Net Earnings $324,774 $31,346 Earnings per Share $.10 $.01 Shares Outstanding 3,223,903 3,222,095 Nine Months (9 months ended 02/28/10 & 02/28/09) F/Y 10 F/Y 09 Sales $13,285,823 $12,279,862 Net Earnings $1,147,461 $235,363 Earnings per Share $.36 $.07 Shares Outstanding 3,223,903 3,222,095Taylor's website can be visited at: www.taylordevices.com Taylor Devices, Inc. SOURCE Taylor Devices, Inc.