Net sales for the second quarter of fiscal year 2024,
For the first six months of fiscal year 2024,
The backlog for the Company was approximately
Mr. David O’Neil, President and CEO, commented,
The financial results for this quarter are exceptional. The team has done an outstanding job. In addition to an overall improvement in operational efficiency, the increase in quarterly sales was augmented with two one-time shipments that were significant contributors to the quarter’s results, boosting the bottom line above normal operating margins. The results of this quarter position us well for another solid year. We continue to believe that a portfolio balanced between new design, follow-on production orders and build to print contracts is a positive strategy for bottom-line growth in ensuing years. Our backlog remains strong as we continue to look for new opportunities to grow our business.
Espey's primary business is the development, design, and production of specialized military and industrial power supplies/transformers. The Company can be found on the internet at www.espey.com.
For further information, contact Ms.
This press release may contain certain statements that are "forward-looking statements" and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements represent the Company's current expectations or beliefs concerning future events. The matters covered by these statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those set forth in the forward-looking statements. The Company wishes to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made.
Source:
2024 GlobeNewswire, Inc., source