The Tonawanda News
A North Tonawanda company continues to move ahead with strong growth.
Taylor Devices released its second quarter report, showing a drastic jump in sales compared to a year ago.
The 57-year-old company that manufactures and designs shock absorption, rate control and energy storage apparatus posted a more than $2 million jump for the last quarter of 2011, showing a rise in sales to $6,781,754.
The figure increased from $4,525,002 last year, while sales for the first two quarters combined also rose from $8,801,825 in 2010 to $11,354,456 in 2011.
Net earnings for the 2nd quarter were $413,741, up sharply from last year’s second quarter earnings of $122,975. Net earnings for the first six months were $821,858, also up substantially from last year’s earnings of $307,613.
The company attributes much of its growth to the development of seismic protection and the isolation of wind-induced vibrations, which have become increasingly important in Asian markets, where growth is robust.
President of the company, Doug Taylor, said the upturn is allowing the company to expand on Tonawanda Island through a multi-year plan that is entirely self-funded. The expansion will double the company’s manufacturing space, with construction slated for completion by the end of 2013.
“Our firm order backlog is now at a record $25 million,” he said. “Last year at this time it was $13 million. The product mix for this backlog is now approximately 19 percent aerospace-military with the remaining 81 percent comprised of commercial-seismic orders.”