The Tonawanda News
North Tonawanda’s Taylor Devices continues to bolster its financial scenario after another hardy quarter, up slightly from last year’s marker.
The 57-year-old company located on Tonawanda Island made solid gains with net earnings of $514,213, a rise from last year’s third quarter earnings of $386,100.
“Our firm order backlog continues to be very strong, said Douglas Taylor, president of the company. “It is currently at $23 million, up significantly from the $13.6 million level reported in the year ago period.”
Total sales for the third quarter ending in 2012 nearly doubled to $8,008,836 — a considerable boost from last year’s third quarter sales of $4,979,343. Sales for the first nine months of the business cycle were $19,363,292, also up substantially from last year’s $13,781,168.
The company engages in the design, development, manufacturing and marketing of shock absorption, rate control and energy storage devices for use in various types of vehicles, machinery, equipment and structures, both for the United States military and private entities. Taylor Devices continues achieving growth in the developing seismic protection field and in the isolation of wind-induced vibrations, according to Taylor.
“Sales of both seismic and aerospace products are increasing and we expect our performance to continue through the balance of the fiscal year.” Taylor said. “Our previously disclosed, self-funded expansion of our manufacturing space is proceeding on schedule and we expect the first of the three buildings being renovated to be fully in service by the summer of 2012.”