Fri, Sep 27, 11:43 AM (85 days ago)
In the first quarter of fiscal 2025, Taylor Devices, Inc. reported a 17% increase in net sales to $11,618,000, compared to $9,924,000 in the previous year. Gross profit improved to $5,504,000, reflecting a gross margin of 47%, up from 44% in Q1 2024. Net income rose 44% to $2,667,000, driven by higher sales and improved pricing strategies. Research and development costs decreased by 47% to $69,000, while selling, general, and administrative expenses increased by 8% to $2,530,000. Cash flow from operations showed a significant decline, with a net operating cash outflow of $3,589,497, influenced by rising accounts receivable, which increased by 30% to $6,780,000. Total current assets decreased slightly to $48,021,000. The company’s backlog remained stable at $28.4 million, with expectations to recognize most revenue within the fiscal year. Challenges include potential market fluctuations and competition, impacting future operations. Overall, Taylor Devices demonstrated strong quarterly performance metrics, positioning for continued growth despite uncertainties.