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Espey Mfg. & Electronics Corp. develops, designs, and produces specialized military and industrial power supplies and transformers. Company announcements commonly cover quarterly and annual results, sales trends, gross profit, backlog, new orders, shipment timing, and execution across customer programs for military and severe-environment applications.
Espey also reports capital-return actions such as regular and special cash dividends, as well as operational investments tied to its power electronics and magnetics capabilities. Recent company updates include the Magnetics Center of Excellence expansion, which supports magnetics systems fabrication and MIL-STD testing, along with governance items such as audit committee leadership.
Espey Mfg. & Electronics Corp. (NYSE American: ESP) reported a net sales decline in Q3 FY 2021 of $4.21 million, down from $6.19 million in Q3 FY 2020. The company faced a net loss of $1.07 million, or $(0.44) per diluted share, compared to a net loss of $(0.10) million, or $(0.04) per diluted share, last year. For the first nine months, net sales totaled $18.4 million, a decrease from $19.4 million in FY 2020. The backlog grew to $67.3 million, an increase from $59.8 million year-over-year. The impact of the COVID-19 pandemic and supply chain disruptions contributed significantly to these results.
Espey Mfg. & Electronics Corp. (NYSE AMERICAN: ESP) has suspended its quarterly cash dividend as of March 9, 2021. This decision was made by the Board of Directors amid ongoing challenges from the global pandemic, particularly impacting the rail and airline industries. CEO Patrick Enright highlighted supply chain issues and a decline in earnings as contributing factors. The company aims to maintain a strong cash position to navigate these challenges and invest strategically in personnel and programs while managing a robust backlog of orders.
Espey Mfg. & Electronics Corp. (NYSE American: ESP) reported its Q2 FY2021 results, showcasing a decline in net sales to $6.96 million from $7.29 million year-over-year, alongside a net loss of $(181,006) compared to a net income of $228,964 last year. For the first half, net sales increased to $14.2 million from $13.2 million, but net income dropped to $8,817 from $310,740. The backlog at December 31, 2020, stands at $60.1 million, with new orders totaling $19.4 million, down from $26 million last year.
The Board of Directors of Espey Mfg. & Electronics Corp. (NYSE AMERICAN: ESP) has declared a quarterly dividend of $0.25 per share. This dividend is scheduled for payment on December 29, 2020, to shareholders on record as of December 22, 2020. Espey specializes in the development and production of military and industrial power supplies and transformers. Stakeholders are advised that future projections mentioned are subject to risks and uncertainties that could impact actual outcomes.
Espey Mfg. & Electronics Corp. (NYSE American: ESP) reported strong growth in its Q1 fiscal year 2021 results, with net sales reaching $7,265,515, a significant increase from $5,923,819 during the same period last year. Net income rose to $189,824 ($0.08 per share), compared to $81,776 ($0.03 per share) a year earlier. The company's backlog also improved to $62 million from $46.6 million in Q1 2020, while new orders surged to $14.3 million, reflecting a robust demand in the market.
Espey Mfg. & Electronics Corp. (NYSE American: ESP) reported a decline in net sales to $31.5 million for the fiscal year ending June 30, 2020, down from $36.5 million in 2019. Net income also fell to $1.16 million or $0.49 per diluted share. However, the fourth quarter saw a sales increase to $12.12 million. The company declared a quarterly dividend of $0.25 per share, payable October 14, 2020. The order backlog increased to $54.9 million from $45.6 million year-over-year, indicating potential growth despite challenges.
The Board of Directors of Espey Mfg. & Electronics Corp. (NYSE AMERICAN: ESP) has declared a quarterly dividend of $0.25 per share, payable on June 25, 2020, to shareholders of record on June 19, 2020. Espey's core business involves the development and production of specialized military and industrial power supplies and transformers. The Company emphasizes its commitment to shareholders through regular dividend payments.
Espey Mfg. & Electronics Corp. (NYSE American: ESP) reported financial results for the first nine months of fiscal year 2020. Net sales for Q3 2020 were $6.19 million, down from $9.22 million in Q3 2019, resulting in a net loss of $(103,765) compared to a net income of $922,456 last year. For the first nine months, net sales totaled $19.4 million, a decline from $24.9 million in the previous year, with net income at $206,975 versus $1.2 million last year. The sales order backlog increased to $59.8 million from $45.4 million year-over-year, with new orders rising to $33.6 million.