Taylor Devices Announces Third Quarter 2022 Results

Sales for the 3^rd quarter were $6,143,329, up from last year’s 3rd quarter sales of $4,772,371.  Sales for the 1^st nine months were $21,209,052, also up from last year’s 1^st nine months sales of $15,249,425.

“Sales for this quarter and the 1^st nine months of the year are up significantly from last year’s levels; 29% and 39% respectively, but still down slightly from our pre-pandemic average levels,” stated Tim Sopko, CEO.  He further commented, “This lower sales volume concurrent with the unprecedented pandemic driven escalation of material and labor costs stressed profits, particularly in the 3^rd quarter.”  He continued, “Last year’s results included significant US Government COVID-19 financial assistance that is no longer available to us; $634,000 in the 3^rd quarter and $2,096,000in the 1^st nine months, thereby masking the relatively improved profitability of the business this year at the relatively higher sales volumes.”