NORTH TONAWANDA, N.Y., March 28, 2025 /PRNewswire/ — Taylor Devices, Inc. (NASDAQ SmallCap: “TAYD”) announced today that it had 3rd quarter sales of $10,564,834, down from last year’s 3rd quarter sales of $12,254,093 while sales for the 1st nine months were $30,731,571, also down from last year’s 1st nine-month sales of $32,517,596.
Net earnings for the 3rd quarter were $2,002,245, down from last year’s 3rd quarter net earnings of $2,696,921 with net earnings for the 1st nine months finishing at $5,725,060, also down from last year’s net earnings for the 1st nine months of $6,526,132.
“Our FY25 3rd quarter and 1st nine-month sales finished shy of last year’s record high levels although this year’s 1st nine-month sales of $30.7M did eclipse our prior 2nd highest 1st nine-month sales of $29.5M which was set in FY23,” stated Tim Sopko, CEO. He continued, “Similarly, net earnings for the 3rd quarter and 1st nine months finished shy of last year’s levels, also record highs, due primarily to the lower sales volume.” He further commented, “The benefits of our Team’s excellent work on continuous improvements can be seen in our favorable gross margins even as our product mix varied vs. last year’s periods.” He continued, “Despite the headwinds we faced due to high interest rates as well as the US Government’s Continuing Resolution, the benefits of our market diversification and careful focus on stable and growing markets can be seen in our firm order backlog which finished at $33.3M at the end of this February as compared to $30,2M at the end of February last year.” He concluded, “As we enter the 4th and final quarter of our FY25, we will continue to focus on our growth strategies supported by our continued investments in our team, technologies (R&D) and facilities which we expect will continue to support our profitable growth going forward.”