Taylor Devices Inc. (NASDAQ: TAYD) reported a dip in its profits for the second quarter as compared to the comparable period last year; net earnings for the second quarter were $122,975, a dip from last year’s second quarter earnings of $501,891.
The company reported second quarter sales of $4,525,002, an increase from last year’s second quarter sales of $3,488,797.
The company reported six-months sales of $8,801,825, an increase from last year’s sales of $8,502,470. The net earnings for the first six months were $307,613, a drop from last year’s earnings of $822,688.
“Pundits continue to declare that our recession ended months ago, however, the U.S. construction markets remain very constricted,” Douglas P. Taylor, president of Taylor Devices stated in the press release. “While profit levels are lower due to a shift in products shipped away from aerospace towards seismic, we remain committed to maintaining profitability throughout the year.”� Taylor concluded, “Our firm order backlog is now at $13 million, up significantly from the $11.4 million level that we reported this time last year.”
Taylor Devices is currently trading at $5.75. The stock is up 18.29% from its previous close. Taylor Devices stock touched the high of $6.46 and lowest price in today�s session is $5.61. The company stock�s beta is 1.47.
The company stock has traded in the range of $4.50 and $6.85 during the past 52 weeks. The company�s market cap is $18.63 million.
Taylor Devices engages in the design, development, manufacture and marketing of shock absorption, rate control and energy storage devices for use in various types of vehicles, machinery, equipment and structures.� The company continues to achieve growth in the developing seismic protection field and in the isolation of wind-induced vibrations.
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