TAYLOR DEVICES ANNOUNCES THIRD QUARTER AND NINE-MONTH RESULTS

Net earnings for the 3^rd quarter were $2,002,245, down from last year's 3^rd quarter net earnings of $2,696,921 with net earnings for the 1^st nine months finishing at $5,725,060, also down from last year's net earnings for the 1^st nine months of $6,526,132.

"Our FY25 3^rd quarter and 1st nine-month sales finished shy of last year's record high levels although this year's 1^st nine-month sales of $30.7M did eclipse our prior 2^nd highest 1^st nine-month sales of $29.5M which was set in FY23," stated Tim Sopko, CEO.  He continued, "Similarly, net earnings for the 3^rd quarter and 1^st nine months finished shy of last year's levels, also record highs, due primarily to the lower sales volume."  He further commented, "The benefits of our Team's excellent work on continuous improvements can be seen in our favorable gross margins even as our product mix varied vs. last year's periods."  He continued, "Despite the headwinds we faced due to high interest rates as well as the US Government's Continuing Resolution, the benefits of our market diversification and careful focus on stable and growing markets can be seen in our firm order backlog which finished at $33.3M at the end of this February as compared to $30,2M at the end of February last year."  He concluded, "As we enter the 4^th and final quarter of our FY25, we will continue to focus on our growth strategies supported by our continued investments in our team, technologies (R&D) and facilities which we expect will continue to support our profitable growth going forward."