Taylor Devices, Inc. (TAYD) reported that its first-quarter net earnings were $1.85 million, up significantly from $1.00 million, prior year. Earnings per share was $0.52 compared to $0.29.
First quarter sales were $9.92 million, up slightly from $9.09 million, last year. Order backlog was $28.3 million at the end of August 2023, up 23% from a year ago.
Tim Sopko, CEO, said: "Our team's proactive management and control of costs combined with the benefits from continuous improvements over the past several years is evidenced by the net income for the quarter finishing at 18.6% of sales compared to the 11.0% of sales achieved in first quarter, last year."
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