TAYLOR DEVICES INC
For the period ended Feb 29, 2024. Filed Mar 28, 2024.
View on SEC.govAbout 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.
Feb 29, 2024 · Filed Mar 28, 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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Financial Statements Condensed Consolidated Balance Sheets as of February 29, 2024 and May 31, 2023
| TAYLOR DEVICES, INC. AND SUBSIDIARY | ||
|---|---|---|
| Condensed Consolidated Balance Sheets · (Unaudited) | ||
| February 29, | May 31, | |
| 2024 | 2023 | |
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $3,056,450 | $3,575,219 |
| Short-term investments | 21,567,890 | 24,514,757 |
| Accounts and other receivables, net | 4,886,625 | 5,553,504 |
| Inventory | 6,677,772 | 5,941,304 |
| Costs and estimated earnings in excess of billings | 4,534,019 | 4,124,182 |
| Other current assets | 464,745 | 668,554 |
| Total current assets | 41,187,501 | 44,377,520 |
| Maintenance and other inventory, net | 1,360,932 | 1,003,140 |
| Property and equipment, net | 11,135,688 | 11,721,784 |
| Patents, net | 298,148 | - |
| Other assets | 241,051 | 210,120 |
| Deferred income taxes | 568,615 | 568,615 |
| $54,791,935 | $57,881,179 | |
| Liabilities and Stockholders' Equity | ||
| Current liabilities: | ||
| Accounts payable | $955,841 | $1,717,657 |
| Accrued expenses | 4,039,991 | 4,078,322 |
| Billings in excess of costs and estimated earnings | 1,960,286 | 1,992,470 |
| Total current liabilities | 6,956,118 | 7,788,449 |
| Stockholders' Equity: | ||
| Common stock and additional paid-in capital | 11,794,037 | 11,049,216 |
| Retained earnings | 48,654,388 | 42,128,256 |
| 60,448,425 | 53,177,472 | |
| Treasury stock - at cost | (12,612,608) | (3,084,742) |
| Total stockholders’ equity | 47,835,817 | 50,092,730 |
| $54,791,935 | $57,881,179 | |
| TAYLOR DEVICES, INC. AND SUBSIDIARY | ||||
|---|---|---|---|---|
| Condensed Consolidated Statements of Income · (Unaudited) · (Unaudited) | ||||
| For the three months ended | For the nine months ended | |||
| February 29,2024 | February 28,2023 | February 29,2024 | February 28,2023 | |
| Sales, net | $12,254,093 | $9,891,272 | $32,517,596 | $29,479,337 |
| Cost of goods sold | 6,501,227 | 5,629,523 | 17,569,487 | 17,357,733 |
| Gross profit | 5,752,866 | 4,261,749 | 14,948,109 | 12,121,604 |
| Research and development costs | 108,363 | 190,688 | 321,518 | 881,335 |
| Selling, general and administrative expenses | 2,651,289 | 2,266,115 | 7,660,172 | 6,500,487 |
| Operating income | 2,993,214 | 1,804,946 | 6,966,419 | 4,739,782 |
| Other income, net | 362,707 | 239,941 | 1,122,713 | 432,984 |
| Income before provision for income taxes | 3,355,921 | 2,044,887 | 8,089,132 | 5,172,766 |
| Provision for income taxes | 659,000 | 386,000 | 1,563,000 | 952,000 |
| Net income | $2,696,921 | $1,658,887 | $6,526,132 | $4,220,766 |
| Basic and diluted earnings per common share | $0.82 | $0.47 | $1.91 | $1.20 |
| TAYLOR DEVICES, INC. AND SUBSIDIARY | ||||
|---|---|---|---|---|
| Condensed Consolidated Statements of Stockholders’ Equity | ||||
| (Unaudited) · (Unaudited) | ||||
| For the three months ended · For the nine months ended | ||||
| February 29,2024 | February 28,2023 | Febuary 29,2024 | February 28,2023 | |
| Common Stock | ||||
| Beginning of period | $102,171 | $101,457 | $102,127 | $101,342 |
| Issuance of shares for employee stock purchase plan | 2 | 5 | 8 | 20 |
| Issuance of shares for employee stock option plan | 825 | 244 | 863 | 344 |
| End of period | 102,998 | 101,706 | 102,998 | 101,706 |
| Paid-in Capital | ||||
| Beginning of period | 11,269,228 | 10,394,127 | 10,947,089 | 10,227,916 |
| Issuance of shares for employee stock purchase plan | 2,489 | 2,429 | 7,559 | 8,083 |
| Issuance of shares for employee stock option plan | 419,322 | 105,630 | 435,083 | 137,750 |
| Stock options issued for services | - | - | 301,308 | 128,437 |
| End of period | 11,691,039 | 10,502,186 | 11,691,039 | 10,502,186 |
| Retained Earnings | ||||
| Beginning of period | 45,957,467 | 38,402,777 | 42,128,256 | 35,840,898 |
| Net income | 2,696,921 | 1,658,887 | 6,526,132 | 4,220,766 |
| End of period | 48,654,388 | 40,061,664 | 48,654,388 | 40,061,664 |
| 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 | (368,488) | (54,705) | (384,287) | (54,705) |
| Repurchase of shares | (9,143,579) | - | (9,143,579) | - |
| End of period | (12,612,608) | (2,969,707) | (12,612,608) | (2,969,707) |
| Total stockholders' equity | $47,835,817 | $47,695,849 | $47,835,817 | $47,695,849 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.