Taylor Devices ( (TAYD) ) has released its Q3 earnings. Here is a breakdown of the information Taylor Devices presented to its investors.
Taylor Devices, Inc. is a New York-based company specializing in the design and manufacture of shock and vibration control devices, primarily serving the industrial, structural, and aerospace/defense sectors.
In its latest earnings report for the quarter ending February 28, 2025, Taylor Devices reported a 14% decrease in net revenues compared to the same period last year, with a notable decline in net income by 26%. The company experienced a shift in sales concentration, with domestic sales decreasing by 23% while international sales saw a significant increase of 115%.
Key financial metrics revealed a decrease in gross profit margin to 43% from 47% in the previous year. The company faced a 21% drop in gross profit due to reduced revenue and a shift in sales mix. Operating income also fell to $2.02 million, down from $2.99 million in the prior year, largely due to lower revenue and a change in sales distribution.
Looking forward, Taylor Devices remains focused on its backlog of sales orders, which increased to $33.3 million from $33.1 million at the end of the prior year. The company expects to recognize revenue from its backlog during fiscal years 2025 and 2026, indicating a steady pipeline of projects moving forward.