TAYLOR DEVICES ANNOUNCES THIRD QUARTER AND NINE-MONTH RESULTS

Core Insights - Taylor Devices, Inc. reported a decline in sales and net earnings for the 3rd quarter and the first nine months of FY25 compared to the previous year [1][2][3] Financial Performance - 3rd quarter sales were $10,564,834, down from $12,254,093 in the same quarter last year, representing a decrease of approximately 13.8% [1][4] - Net earnings for the 3rd quarter were $2,002,245, a decline from $2,696,921, which is a decrease of about 25.8% [2][4] - For the first nine months, sales totaled $30,731,571, down from $32,517,596, indicating a decrease of approximately 5.5% [1][4] - Net earnings for the first nine months were $5,725,060, down from $6,526,132, reflecting a decrease of about 12.3% [2][4] Management Commentary - The CEO noted that while sales and net earnings fell short of last year's record levels, the current year's first nine-month sales surpassed the previous second-highest sales of $29.5 million set in FY23 [3] - The company highlighted the positive impact of continuous improvements on gross margins despite variations in product mix [3] - The firm order backlog increased to $33.3 million at the end of February, compared to $30.2 million at the same time last year, indicating a positive trend in order volume [3] Company Overview - Taylor Devices, Inc. specializes in the design, development, manufacture, and marketing of shock absorption, rate control, and energy storage devices for various applications [3] - The company is focusing on growth in the domestic Aerospace and Defense market, as well as global Structural Construction and Industrial markets [3]