Espey Mfg. & Electronics Corp. reports third quarter results

Core Insights - Espey Mfg. & Electronics Corp. reported significant growth in net sales and net income for both the third quarter and the first nine months of fiscal year 2025 compared to the same periods in the previous year [1][2]. Financial Performance - For the third quarter of fiscal year 2025, net sales reached $10,302,719, an increase of approximately 24.8% from $8,254,653 in the same quarter last year. Net income for the quarter was $1,704,487, or $0.63 per diluted share, compared to $1,031,930, or $0.40 per diluted share, in the prior year [1]. - For the first nine months of fiscal year 2025, net sales totaled $34,354,677, up 26.9% from $27,125,408 in the same period of fiscal year 2024. Net income for this period was $5,211,303, or $1.95 per diluted share, compared to $3,921,844, or $1.56 per diluted share, in the previous year [2]. Backlog and Orders - The company's backlog as of March 31, 2025, was $138 million, significantly higher than the $84.2 million backlog reported at the same time last year. New orders for the first nine months of fiscal year 2025 amounted to $75.1 million, a substantial increase from approximately $27.8 million in the same period of fiscal year 2024 [3]. Business Focus - Espey's primary business involves the development, design, and production of specialized military and industrial power supplies and transformers, indicating a strong focus on niche markets within the defense and industrial sectors [4].