Taylor Devices Q2 Income Drops On Weak Sales - Update

Taylor Devices

32.81 USD -1.77%

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Kaufen / Verkaufen

(RTTNews) - Taylor Devices, Inc. (TAYD), a manufacturer and marketer of Shock & Vibration Control, Friday announced its net income decreased in the second quarter due to less sales volume.

For the second quarter, the net income decreased to $1.06 million, or $0.34 per share from $1.98 million, or $0.56 per share in the last year's quarter. The net sales also decreased to $8.55 million from $10.34 million in the previous year.

The company's firm order backlog has increased to $34.5 million from $33.1 million in the beginning of the year, despite the high first-half sales outflow.

Looking ahead, CEO Tim Sopko said, "As we enter the 2nd half of our FY25, we will continue to aggressively target opportunities where our custom engineered products are critically needed and valued by our customers in all three of our chosen markets; Aerospace/Defense, Structural and Industrial, which we expect will continue to support our profitable growth going forward."

In the pre-market trading, TAYD is 1.84% down at $40.59 on the Nasdaq.