SARATOGA SPRINGS, N.Y., Feb. 18, 2025 (GLOBE NEWSWIRE) -- Espey Mfg. & Electronics Corp. (NYSE American: ESP), a leading designer and manufacturer of innovative industrial and defense electronic solutions, announces the retirement of its Chief Financial Officer and Treasurer, Katrina Sparano, and the appointment of Kaitlyn O’Neil, who has been employed by the Company since January 6, 2025, as the company’s new Principal Financial Officer and Treasurer, both effective February 15, 2025. David O’Neil, Preside ...

Shares of Espey Mfg. & Electronics Corp. (ESP) have declined 1% since the company reported its earnings for the quarter ended Dec. 31, 2024. This compares to the S&P 500 index’s 0.3% decline over the same time frame. Over the past month, the stock has declined 6.2% against the S&P 500’s 1.5% growth.See the Zacks Earnings Calendar to stay ahead of market-making news.Espey reported a net income of 71 cents per share for the second quarter of fiscal 2025, down from 72 cents per share in the year-ago period. Th ...

SARATOGA SPRINGS, N.Y., Feb. 12, 2025 (GLOBE NEWSWIRE) -- Espey Mfg. & Electronics Corp. (NYSE American: ESP) announces results for the first six months of fiscal year 2025. Net sales for the second quarter of fiscal year 2025, October 1 to December 31, 2024, were $13,608,740 compared with last year's second quarter net sales of $10,302,541. Net income for the quarter was $1,908,499, $0.71 per diluted share, as compared to net income of $1,795,370, $0.72 per diluted share for the same quarter last year. For ...

Financial Performance - Net sales for the three months ended December 31, 2024, increased to $13,608,740, a 32.3% rise from $10,302,541 in the same period of 2023[10] - Gross profit for the six months ended December 31, 2024, was $5,964,594, compared to $5,387,952 for the same period in 2023, reflecting a 10.7% increase[10] - Net income for the three months ended December 31, 2024, was $1,908,499, up from $1,795,370 in 2023, representing a 6.3% growth[10] - Net income for the six months ended December 31, 2024, was $3,506,816, compared to $2,889,914 for the same period in 2023, representing an increase of approximately 21.4%[20] - Total revenue recognized for the six months ended December 31, 2024, was $17,500,184, a 19.3% increase from $14,642,694 in the same period of 2023[45] - Total comprehensive income for the six months ended December 31, 2024, was $3,505,276, compared to $2,895,331 for the same period in 2023, indicating an increase of about 21.1%[20] Assets and Equity - Total assets as of December 31, 2024, amounted to $60,191,285, an increase from $56,542,931 as of June 30, 2024[8] - Total stockholders' equity increased to $44,816,645 as of December 31, 2024, compared to $41,273,972 as of June 30, 2024, marking an increase of 8.3%[8] - The balance of stockholders' equity as of December 31, 2023, was $38,223,829, up from $35,879,758 as of June 30, 2023, reflecting an increase of approximately 6.5%[17] - As of December 31, 2024, total investment securities amounted to $20,264,567, with a gross unrealized gain of $9,794 and gross unrealized losses of $3,459[24] Cash and Liquidity - Cash and cash equivalents rose to $8,027,478 as of December 31, 2024, compared to $4,351,970 as of June 30, 2024, indicating a significant liquidity improvement[8] - Cash and cash equivalents at the end of the period on December 31, 2024, were $8,027,478, up from $3,602,933 at the end of December 31, 2023, indicating a significant increase of approximately 122.5%[20] - Net cash provided by operating activities for the six months ended December 31, 2024, was $6,766,541, compared to $5,939,155 for the same period in 2023, representing an increase of about 14.0%[20] Dividends and Stock Compensation - Dividends per share increased to $0.25 for the three months ended December 31, 2024, up from $0.15 in the same period of 2023[10] - Dividends paid on common stock for the six months ended December 31, 2024, were $1,279,061, compared to $741,895 for the same period in 2023, showing an increase of approximately 72.3%[20] - Stock-based compensation increased to $193,033 for the six months ended December 31, 2024, compared to $131,155 for the same period in 2023, reflecting a rise of about 47.2%[20] - ESOP compensation expense for the three-month period ended December 31, 2024, was $163,067, compared to $94,175 for the same period in 2023, representing a 73.3% increase[52] Liabilities and Obligations - Total current liabilities remained stable at $15,374,640 as of December 31, 2024, compared to $15,268,959 as of June 30, 2024[8] - The recorded termination withdrawal obligation related to the pension plan was $561,852 as of December 31, 2024, down from $772,157 in June 2024[40] - Contract liabilities rose to $9.88 million as of December 31, 2024, compared to $9.04 million as of June 30, 2024, indicating an increase of 9.2%[47] Backlog and Future Expectations - The company's backlog as of December 31, 2024, was approximately $120.1 million, with an estimated recognition of 16.6% in 2025 and 37.4% in 2026[48] - The Company was awarded $7.4 million in funding for facility and capital equipment upgrades, with completion expected in the first quarter of calendar year 2025[39] - The Company was awarded an additional $3.4 million in funding in December 2024, expected to be in force through calendar year 2026[41]

TORONTO, Jan. 27, 2025 (GLOBE NEWSWIRE) -- (TSX: ESP, ESP.PR.A) Brompton Energy Split Corp. (the “Fund”) announces that the distribution rate for the preferred shares (the “Preferred Shares”) for the new term from March 29, 2025 to March 30, 2027 will be $0.725 per Preferred Share per annum (7.25% on the par value of $10) payable quarterly. The new Preferred Share distribution rate is based on current market rates for preferred shares with similar terms. The Fund invests in an actively managed portfolio co ...

SARATOGA SPRINGS, N.Y., Dec. 23, 2024 (GLOBE NEWSWIRE) -- Espey Mfg. & Electronics Corp. (NYSE:ESP) announces new material contract. The Company has been awarded a contract valued at $29.5 million, when fully funded, to provide electric power distribution panels for the U.S. Navy's Columbia class submarines. Espey was chosen by General Dynamics Electric Boat and the U.S. Navy to manufacture components previously designed by Espey for the next-generation ballistic missile submarine fleet. The Columbia class ...

SARATOGA SPRINGS, N.Y., Dec. 23, 2024 (GLOBE NEWSWIRE) -- Espey Mfg. & Electronics Corp. (NYSE American: ESP) announces new material contract. The Company has been awarded a contract valued at $29.5 million, when fully funded, to provide electric power distribution panels for the U.S. Navy’s Columbia class submarines. Espey was chosen by General Dynamics Electric Boat and the U.S. Navy to manufacture components previously designed by Espey for the next-generation ballistic missile submarine fleet. The Colum ...

Not for distribution to U.S. newswire services or for dissemination in the United States. TORONTO, Dec. 19, 2024 (GLOBE NEWSWIRE) -- (TSX: ESP, ESP.PR.A) Brompton Energy Split Corp. (the “Fund”) is pleased to announce it has established an at-the-market equity program (“ATM Program”) so that the Fund can issue class A and preferred shares (the “Class A Shares” and “Preferred Shares”, respectively) to the public from time to time, at the Fund’s discretion. Any Class A Shares or Preferred Shares sold under th ...

Shares of Espey Mfg. & Electronics Corp. (ESP) have lost 2.6% since the company reported its earnings for the quarter ended Sept. 30, 2024. This compares to the S&P 500 index’s -0.8% change over the same time frame. Over the past month, the stock moved -0.7% versus the S&P 500’s 2.8% change.For the fiscal first quarter of 2025, earnings per share increased to 61 cents from 44 cents, reflecting the company's improved operational efficiency and a favorable product mix. Espey reported net sales of $10.4 millio ...

SARATOGA SPRINGS, N.Y., Nov. 13, 2024 (GLOBE NEWSWIRE) -- Espey Mfg. & Electronics Corp. (NYSE American: ESP) announces results for the first three months of fiscal year 2025. Net sales for the first quarter of fiscal year 2025, July 1 to September 30, 2024, were $10,443,218, compared with last year's first quarter net sales of $8,568,214. Net income for the quarter was $1,598,317, $0.61 per diluted share, as compared to net income of $1,094,544, $0.44 per diluted share for the same quarter last year. The b ...