Core Points - Espey Mfg. & Electronics Corp. has been awarded a new contract valued at $19.8 million to provide electrical power transformers for the U.S. Navy's Virginia and Columbia class submarines [2] - The contract was awarded by General Dynamics Electric Boat and the U.S. Navy, continuing Espey's role as a supplier for components previously designed for these classes of submarines [2] - The Columbia class submarine is a priority for the Department of Defense, intended to replace the Ohio class ballistic missile submarines [2] Company Overview - Espey's primary business involves the development, design, and production of specialized military and industrial power supplies and transformers [4] - The company emphasizes its commitment to supporting U.S. military programs, aligning its strategy with the needs of the Department of Defense [3]

Core Viewpoint - Espey Mfg. & Electronics Corp. has secured a new contract valued at $19.8 million to supply electrical power transformers for the U.S. Navy's Virginia and Columbia class submarines, highlighting the company's ongoing relationship with General Dynamics Electric Boat and the Department of Defense [2][3]. Group 1: Contract Details - The new contract is valued at $19.8 million when fully funded [2]. - The contract involves manufacturing components for the Virginia and Columbia class submarines, which are critical to the U.S. Navy [2]. - The Columbia class submarine is a priority for the Department of Defense, intended to replace the Ohio class ballistic missile submarines [2]. Group 2: Company Strategy and Leadership - The company emphasizes its commitment to supporting U.S. military programs, aligning its strategy with national defense needs [3]. - Mr. David O'Neil, President and CEO, acknowledged the hard work of employees in securing this contract and maintaining strong customer relationships [3]. Group 3: Company Overview - Espey Mfg. & Electronics Corp. specializes in the development, design, and production of military and industrial power supplies and transformers [4].

Core Insights - Espey Mfg. & Electronics Corp. has been awarded $3.4 million for capital improvements to enhance its domestic industrial capabilities as part of a U.S. Navy initiative [2] - This funding follows a previous award of $7.4 million received in February 2023 for the construction of a new manufacturing facility and upgrades to facility power infrastructure [3] - The investments reflect the U.S. Government's commitment to strengthening critical domestic manufacturing capabilities, with project completion expected in 2026 [3] Company Overview - Espey specializes in the development, design, and production of military and industrial power supplies, power systems, and transformers [4]

Core Points - Espey Mfg. & Electronics Corp. has been awarded $3.4 million for capital improvements to enhance domestic industrial capabilities [2] - This funding is part of the U.S. Navy's initiative to strengthen the domestic U.S. Surface Combatant Industrial Base [2] - The investment will allow Espey to expand its design, manufacturing, testing, and delivery capabilities for electrical power products [2] - This funding is in addition to a previous $7.4 million received in February 2023 for a new manufacturing facility and power infrastructure enhancements [3] - The ongoing investments reflect the U.S. Government's commitment to bolstering critical domestic manufacturing capabilities [3] - The projects will be executed at Espey's facility in Saratoga Springs, NY, with completion expected in 2026 [3] - Espey's primary business focuses on the development, design, and production of specialized military and industrial power supplies, power systems, and transformers [4]

SARATOGA SPRINGS, N.Y., March 10, 2025 (GLOBE NEWSWIRE) -- The Board of Directors of Espey Mfg. & Electronics Corp. (NYSE:ESP) has declared a regular quarterly dividend of $0.25 per share. The dividend will be payable on March 28, 2025 to all shareholders of record on March 21, 2025. Espey's primary business is the development, design, and production of specialized military and industrial power supplies/transformers.  The Company can be found on the Internet at www.espey.com.   For further information, cont ...

SARATOGA SPRINGS, N.Y., March 10, 2025 (GLOBE NEWSWIRE) -- The Board of Directors of Espey Mfg. & Electronics Corp. (NYSE AMERICAN: ESP) has declared a regular quarterly dividend of $0.25 per share. The dividend will be payable on March 28, 2025 to all shareholders of record on March 21, 2025. Espey's primary business is the development, design, and production of specialized military and industrial power supplies/transformers. The Company can be found on the Internet at www.espey.com. For further informat ...

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 ...

SARATOGA SPRINGS, N.Y., Feb. 18, 2025 (GLOBE NEWSWIRE) -- Espey Mfg. & Electronics Corp. (NYSE: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, President and Chi ...

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 ...