TAYLOR DEVICES ANNOUNCES THIRD QUARTER AND NINE-MONTH RESULTS

Rhea-AI Summary

Taylor Devices (NASDAQ: TAYD) reported decreased financial results for Q3 FY25. Third quarter sales declined to $10.56 million from $12.25 million year-over-year, while nine-month sales dropped to $30.73 million from $32.52 million. Net earnings for Q3 decreased to $2.00 million from $2.70 million, with nine-month earnings falling to $5.73 million from $6.53 million.

Despite lower volumes, the company maintained favorable gross margins through continuous improvements. The firm's order backlog grew to $33.3 million at February-end, up from $30.2 million last year, demonstrating benefits from market diversification despite challenges from high interest rates and US Government Continuing Resolution.

The company continues investing in team development, R&D, and facilities while focusing on growth strategies in domestic Aerospace and Defense markets as well as global Structural Construction and Industrial markets.

Positive

• Order backlog increased 10.3% YoY to $33.3M
• Maintained favorable gross margins despite varying product mix
• Strong market diversification strategy showing results

Negative

• Q3 sales decreased 13.8% YoY to $10.56M
• Q3 net earnings declined 25.8% YoY to $2.00M
• Nine-month sales down 5.5% YoY to $30.73M
• Nine-month earnings decreased 12.3% YoY to $5.73M

NORTH TONAWANDA, N.Y., March 28, 2025 /PRNewswire/ -- Taylor Devices, Inc. (NASDAQ SmallCap: "TAYD") announced today that it had 3^rd quarter sales of $10,564,834, down from last year's 3^rd quarter sales of $12,254,093 while sales for the 1^st nine months were $30,731,571, also down from last year's 1^st nine-month sales of $32,517,596.

Net earnings for the 3^rd quarter were $2,002,245, down from last year's 3^rd quarter net earnings of $2,696,921 with net earnings for the 1^st nine months finishing at $5,725,060, also down from last year's net earnings for the 1^st nine months of $6,526,132.

"Our FY25 3^rd quarter and 1st nine-month sales finished shy of last year's record high levels although this year's 1^st nine-month sales of $30.7M did eclipse our prior 2^nd highest 1^st nine-month sales of $29.5M which was set in FY23," stated Tim Sopko, CEO.  He continued, "Similarly, net earnings for the 3^rd quarter and 1^st nine months finished shy of last year's levels, also record highs, due primarily to the lower sales volume."  He further commented, "The benefits of our Team's excellent work on continuous improvements can be seen in our favorable gross margins even as our product mix varied vs. last year's periods."  He continued, "Despite the headwinds we faced due to high interest rates as well as the US Government's Continuing Resolution, the benefits of our market diversification and careful focus on stable and growing markets can be seen in our firm order backlog which finished at $33.3M at the end of this February as compared to $30,2M at the end of February last year."  He concluded, "As we enter the 4^th and final quarter of our FY25, we will continue to focus on our growth strategies supported by our continued investments in our team, technologies (R&D) and facilities which we expect will continue to support our profitable growth going forward."   

Taylor Devices, Inc. is a 69-year-old company engaged in the design, development, manufacture and marketing of shock absorption, rate control and energy storage devices for use in various types of vehicles, machinery, equipment and structures.  The company continues to target growth in the domestic Aerospace and Defense market as well as global Structural Construction and Industrial markets. 

3rd Quarter (3 months ended 02/28/25 & 02/29/24)	F/Y 25	F/Y 24
Sales	$   10,564,834	$    12,254,093
Net Earnings	$     2,002,245	$      2,696,921
Earnings per Share	$              0.64	$               0.82
Shares Outstanding	3,136,469	3,302,497

 

1st Nine months (ended 02/28/25 & 02/29/24)	F/Y 25	F/Y 24
Sales	$  30,731,571	$   32,517,596
Net Earnings	$    5,725,060	$     6,526,132
Earnings per Share	$             1.83	$              1.91
Shares Outstanding	3,127,722	3,411,703

 

Taylor's website can be visited at:  www.taylordevices.com ; with company newsletters and other pertinent information at www.taylordevices.com/investors.

Taylor Devices, Inc.

Contact:  Artie Regan

                Regan & Associates, Inc.
                (212) 587-3005 (phone)
                (212) 587-3006 (fax)
                main@reganproxy.com 

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SOURCE Taylor Devices, Inc.

FAQ

What were Taylor Devices (TAYD) Q3 FY25 financial results?

TAYD reported Q3 sales of $10.56M (down from $12.25M) and net earnings of $2.00M (down from $2.70M) compared to the previous year.

How much is Taylor Devices (TAYD) current order backlog as of February 2025?

TAYD's order backlog stood at $33.3M at February 2025 end, up from $30.2M in the previous year.

What markets is Taylor Devices (TAYD) targeting for growth?

TAYD is targeting growth in domestic Aerospace and Defense market, global Structural Construction, and Industrial markets.

How did Taylor Devices (TAYD) nine-month performance compare to previous year?

TAYD's nine-month sales were $30.73M (down from $32.52M) and net earnings were $5.73M (down from $6.53M) compared to previous year.