UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended February 28, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 0-3498 TAYLOR DEVICES INC (Exact name of registrant as specified in its charter) New York 16-0797789 (State or other jurisdiction ...

Financial Performance - Net revenue for the six months ended November 30, 2021, was $15,066,000, representing a 44% increase compared to $10,477,000 in the same period of 2020[29] - Gross profit for the six months ended November 30, 2021, was $3,980,000, with a gross profit margin of 26%, up from 20% in the prior year[30] - For the three months ended November 30, 2021, net revenue was $7,758,000, a 64% increase from $4,717,000 in the same period of 2020[39] - Gross profit for the three months ended November 30, 2021, was $2,389,000, with a gross profit margin of 31%, significantly higher than 12% in the prior year[40] - Operating income for the six months ended November 30, 2021, was $899,000, compared to an operating loss of $478,000 in the same period of the prior year[34] Revenue Sources - Revenues from long-term construction projects increased by 185% compared to the previous year, while revenues from non-projects decreased by 29%[29] - Total sales within the U.S. increased by 53% year-over-year, with significant growth in sales to structural customers[29] Expenses and Costs - Selling, general and administrative expenses rose by 18% to $3,081,000, accounting for 20% of net revenues, down from 25% in the prior year[33] - The company recognized $126,000 in stock option compensation costs for the six months ended November 30, 2021, compared to $50,000 in the same period of 2020[46] - The company recorded a provision for potential inventory obsolescence of $90,000, unchanged from the previous year[54] Backlog and Orders - The backlog of open sales orders increased from $15.4 million in November 2020 to $17.0 million in November 2021[31] - As of November 30, 2021, the company reported a backlog of sales orders totaling $17.0 million, down from $22.0 million at the end of the prior year[62] Accounts and Inventory - Accounts receivable increased by 28% to $4,310,000 from $3,380,000 as of May 31, 2021, with an average day's sales outstanding (DSO) rising from 42 days to 50 days[55][56] - Costs and estimated earnings in excess of billings (CIEB) rose by 159% to $3,885,000 compared to $1,500,000 at the end of the prior year, indicating strong project flow[58][59] - The company’s total inventory decreased by 1% to $7,360,000 from $7,448,000, with 87% classified as work in process[52][53] Capital Expenditures - Capital expenditures for the six months ended November 30, 2021 were $560,000, down from $721,000 in the same period of the prior year[51] - The company has commitments for capital expenditures totaling $1,400,000 over the next twelve months[51] Liabilities and Cash Flow - The balance of accounts payable decreased by 16% to $1,503,000 compared to the prior year-end[63] - The company believes its cash flows from operations are sufficient to fund ongoing operations and capital improvements for the next twelve months[64] Stock Information - The closing value per share on NASDAQ at November 30, 2021 was $10.95, with options outstanding and exercisable increasing to 303,000[49]

Revenue and Sales Performance - Net revenue for the three months ended August 31, 2021, was $7,308,000, representing a 27% increase compared to $5,760,000 in the same period of 2020[27]. - The company recorded a 132% increase in revenues from long-term construction projects compared to the previous year, with 26 projects in process versus 19 last year[27]. - Total sales in the U.S. increased by 34%, while sales to Asia decreased by 9% compared to the prior year[27]. Profitability and Expenses - Gross profit for the same period was $1,590,000, with a gross margin of 22%, down from 27% in the prior year, attributed to increased R&D, material, and labor costs[28]. - Selling, general and administrative expenses rose to $1,472,000, an 8% increase from $1,363,000 in the previous year, with outside commissions decreasing by 10%[31]. - Operating income for the three months ended August 31, 2021, was $118,000, a 38% decrease from $191,000 in the same period last year[32]. Backlog and Orders - The company's backlog increased to 165 open sales orders with a total sales value of $19.4 million, a 50% increase from 110 orders valued at $10.3 million last year[29]. - The backlog of sales orders decreased to $19.4 million from $22.0 million at the prior year-end, with $9.8 million on projects already in progress[50]. Accounts and Inventory Management - Accounts receivable decreased by 18% to $2,756,000 from $3,380,000, while costs and estimated earnings in excess of billings increased by 119% to $3,287,000[44]. - The company's inventory as of August 31, 2021, was $5,467,000, a decrease of 6% from $5,835,000 at the prior year-end[41]. - Accounts receivable decreased by 18% from the prior year-end, totaling $2,756,000 as of August 31, 2021, with a DSO reduction from 42 days to 34 days[45]. Capital Expenditures and Financial Position - Capital expenditures for the three months ended August 31, 2021, were $462,000, up from $244,000 in the same period of the prior year[39]. - Accounts payable increased by 9% to $1,946,000 as of August 31, 2021, while accrued commissions rose by 71% to $460,000 due to increased commissionable sales[51]. - Other current liabilities decreased by 26% to $1,266,000, primarily due to a reduction in customer advance payments[51]. Cash Flow and Liquidity - Management believes cash flows from operations are sufficient to fund ongoing operations and capital improvements for the next twelve months[52]. - The liquidity of the company remains strong, although management is concerned about potential impacts from the COVID-19 pandemic on global economies[54]. - The company has not experienced significant delays in receiving raw materials or components, maintaining strong supply chain management[55]. Project Progress - The aggregate percent complete for projects in progress increased to 47% from 32%[50]. - CIEB balance increased to $3,287,000, more than double the prior year-end balance, with 24% billed to customers in the current fiscal quarter[47]. - The company expects to bill the entire CIEB amount during the next twelve months as projects progress[47].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 F O R M 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended May 31, 2021 Securities registered pursuant to Section 12(b) of the Act: Commission file number 0-3498 TAYLOR DEVICES INC (Exact name of registrant as specified in its charter) New York 16-0797789 (State or other jurisdiction of incorporation or organization) 90 Taylor Drive, North Tonawanda, New York 14120 (Addr ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended February 28, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 0-3498 TAYLOR DEVICES INC (Exact name of registrant as specified in its charter) New York 16-0797789 (State or other jurisdiction ...