Welcome to our dedicated page for Espey Mfg & Elec news (Ticker: ESP), a resource for investors and traders seeking the latest updates and insights on Espey Mfg & Elec stock.
Espey Mfg. & Electronics Corp. (NYSE American: ESP) regularly publishes news that reflects its role in specialized military and industrial power electronics. Company releases emphasize its primary business in the development, design, and production of power supplies, power systems, and transformers, as well as its participation in U.S. defense and industrial programs.
News items for ESP commonly include financial results, such as quarterly and annual net sales, net income, backlog levels, and new order volumes, as reported in its earnings announcements. These updates give readers insight into trends in Espey’s sales, order activity, and program execution over time.
Espey’s news flow also highlights contract awards and funding related to defense initiatives. The company has reported additional contracts to provide electrical power transformers for the U.S. Navy’s Virginia and Columbia class submarine programs and funding awards tied to the U.S. Navy’s Surface Combatant Industrial Base initiative. Releases describe how these awards support capital equipment purchases, facility upgrades, and expanded manufacturing and testing capabilities.
Another recurring theme in Espey’s news is facility and capability expansion, including the completion and ramp-up of its Magnetics Center of Excellence, which supports advanced magnetics systems development and MIL-STD testing. The company also issues announcements about dividend declarations, detailing regular quarterly dividends and, in some cases, special cash dividends approved by its Board of Directors.
Investors and followers of ESP stock can use this news page to review historical and recent announcements on earnings, contracts, facility investments, dividends, and governance-related developments. Checking this feed provides a consolidated view of the company’s disclosed business activity and financial reporting over time.
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The Board of Directors of Espey Mfg. & Electronics Corp. (NYSE AMERICAN: ESP) has reinstated a quarterly dividend of $0.10 per share. This dividend is set to be paid on March 31, 2023, to shareholders on record as of March 24, 2023. Espey specializes in the development and production of military and industrial power supplies and transformers. The company's focus on specialized products supports its market position, aligning with the needs of defense and industry sectors.
Espey Mfg. & Electronics Corp. (NYSE American: ESP) reported strong financial results for the second quarter of fiscal year 2023, with net sales of $8.8 million, up from $7.5 million in the same quarter last year. Net income surged to $1.1 million ($0.47 per diluted share) compared to just $21,201 ($0.01 per diluted share) a year prior. For the first half of fiscal 2023, net sales totaled $17.4 million, an increase from $15 million year-over-year, and net income rose to $1.9 million ($0.78 per diluted share) from $327,262 ($0.14 per diluted share). The company’s backlog reached $78.3 million as of December 31, 2022.
Espey Mfg. & Electronics Corp. (NYSE American: ESP) has received a $7.4 million funding award aimed at expanding its facilities and upgrading capital equipment for testing and qualification processes for the United States Navy. This initiative is part of the Navy's broader strategy to enhance the Surface Combatant Industrial Base. The expansion will take place at Espey's Saratoga Springs, NY site, with expected completion by 2024. Espey's core business includes the design and production of specialized military and industrial power supplies and transformers.
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