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Midas Edge

TAYLOR DEVICES INC

For the period ended Nov 30, 2023. Filed Jan 10, 2024.

View on SEC.gov

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Nov 30, 2023 · Filed Jan 10, 2024

TAYD$59.38+4.4%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Financial Statements Condensed Consolidated Balance Sheets as of November 30, 2023 and May 31, 2023

TAYLOR DEVICES, INC. AND SUBSIDIARY
Condensed Consolidated Balance Sheets · (Unaudited)
November 30,May 31,
20232023
Assets
Current assets:
Cash and cash equivalents$3,161,073$3,575,219
Short-term investments31,749,30624,514,757
Accounts and other receivables, net4,072,1005,553,504
Inventory6,856,6885,941,304
Costs and estimated earnings in excess of billings1,722,5094,124,182
Other current assets396,947668,554
Total current assets47,958,62344,377,520
Maintenance and other inventory, net1,312,0241,003,140
Property and equipment, net11,355,62911,721,784
Other assets239,956210,120
Deferred income taxes568,615568,615
$61,434,847$57,881,179
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable$1,167,935$1,717,657
Accrued expenses3,032,5714,078,322
Billings in excess of costs and estimated earnings3,006,0161,992,470
Total current liabilities7,206,5227,788,449
Stockholders' Equity:
Common stock and additional paid-in capital11,371,39911,049,216
Retained earnings45,957,46742,128,256
57,328,86653,177,472
Treasury stock - at cost(3,100,541)(3,084,742)
Total stockholders’ equity54,228,32550,092,730
$61,434,847$57,881,179
TAYLOR DEVICES, INC. AND SUBSIDIARY
Condensed Consolidated Statements of Income · (Unaudited) · (Unaudited)
For the three months ended November 30,For the six months ended November 30,
2023202220232022
Sales, net$10,339,875$10,497,366$20,263,503$19,588,065
Cost of goods sold5,529,2086,129,26811,068,26011,728,210
Gross profit4,810,6674,368,0989,195,2437,859,855
Research and development costs84,081315,301213,155690,647
Selling, general and administrative expenses2,672,9262,296,3345,008,8834,234,372
Operating income2,053,6601,756,4633,973,2052,934,836
Other income, net398,688153,045760,006193,043
Income before provision for income taxes2,452,3481,909,5084,733,2113,127,879
Provision for income taxes471,000350,000904,000566,000
Net income$1,981,348$1,559,508$3,829,211$2,561,879
Basic and diluted earnings per common share$0.56$0.45$1.09$0.73
TAYLOR DEVICES, INC. AND SUBSIDIARY
Condensed Consolidated Statements of Stockholders’ Equity
(Unaudited) · (Unaudited)
For the three months ended November 30,For the six months ended November 30,
2023202220232022
Common Stock
Beginning of period$102,168$101,451$102,127$101,342
Issuance of shares for employee stock purchase plan36615
Issuance of shares for employee stock option plan--38100
End of period102,171101,457102,171101,457
Paid-in Capital
Beginning of period10,965,73010,263,09810,947,08910,227,916
Issuance of shares for employee stock purchase plan2,1902,5925,0705,654
Issuance of shares for employee stock option plan--15,76132,120
Stock options issued for services301,308128,437301,308128,437
End of period11,269,22810,394,12711,269,22810,394,127
Retained Earnings
Beginning of period43,976,11936,843,26942,128,25635,840,898
Net income1,981,3481,559,5083,829,2112,561,879
End of period45,957,46738,402,77745,957,46738,402,777
Treasury Stock
Beginning of period(3,100,541)(2,915,002)(3,084,742)(2,915,002)
Issuance of shares for employee stock option plan--(15,799)-
End of period(3,100,541)(2,915,002)(3,100,541)(2,915,002)
Total stockholders' equity$54,228,325$45,983,359$54,228,325$45,983,359
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.