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TAYLOR DEVICES ANNOUNCES RECORD HIGH FULL YEAR SALES, PROFIT AND FIRM ORDER BACKLOG FOR FISCAL YEAR 2024 CONCURRENT WITH STRONG FOURTH QUARTER RESULTS

NORTH TONAWANDA, N.Y., Aug. 15, 2024 /PRNewswire/ -- Taylor Devices, Inc. (NASDAQ SmallCap: "TAYD") announced today that it had 4th quarter sales of $12,065,211, up from last year's 4th quarter sales of $10,720,017.  Sales for the full year of $44,582,807 were significantly up from last year's level of $40,199,354. Net income for the 4th quarter of $2,472,630 was up from last year's 4th quarter net income of $2,066,592 with net income for the fiscal year of $8,998,762, up dramatically from last year's fiscal year net income of $6,287,358. "Our FY24 4th quarter and full year sales finished well ahead of last year's levels with the full year sales of $44.6 million setting a new high record exceeding the prior record of $40.2 million set last year", said Tim Sopko, CEO.  He continued, "Year-on-year net income for both the 4th quarter and full year improved substantially with the full year net income of $8.99 million or 20.2% of sales also setting a new high record exceeding our prior record of $6.3 million or 15.6% of sales set last year, FY23."  He further commented, "The continuing excellent performance of our team in the execution of our profitable growth strategies resulted in a firm order backlog of $33.1 million as we enter FY25. Very impressively, this is also a new record high for the company improving upon the prior record of $32.5 million set ...