FX.co ★ Taylor Devices Q2 Income Drops On Weak Sales - Update

Taylor Devices, Inc. (TAYD), a company specializing in Shock & Vibration Control manufacturing and marketing, announced a drop in net income for the second quarter due to reduced sales volume.

In this period, net income fell to $1.06 million, equating to $0.34 per share, from $1.98 million, or $0.56 per share, compared to the same quarter last year. Net sales also saw a decline, reaching $8.55 million, down from $10.34 million the year before.

Despite a substantial sales outflow in the first half, the company's firm order backlog has seen an increase, climbing to $34.5 million from $33.1 million at the start of the year.

Looking ahead, CEO Tim Sopko stated, "As we transition into the second half of our fiscal year 2025, we aim to aggressively pursue opportunities where our custom-engineered products are in critical demand and provide value to our customers across our key markets: Aerospace/Defense, Structural, and Industrial. We anticipate that this focus will continue to drive our profitable growth."

In pre-market trading, TAYD shares have dipped by 1.84%, currently standing at $40.59 on the Nasdaq.