Net sales for the third quarter of fiscal year 2024,
For the first nine months of fiscal year 2024,
The backlog for the Company was
Mr. David O’Neil, President and CEO, commented,
With another quarter behind us, we are on track for an excellent year. Sales for the quarter proved a bit soft, comparative to last year, however on par with internal expectations. Gross profit, investment income, and control over fixed costs continued to deliver improvement to bottom-line results. Our larger engineering development programs remain financially healthy and in general our development programs have had less of a dilutive effect on gross profit reported when compared to prior years. New sales orders and our sales backlog remain strong. We are currently working on several large opportunities which could potentially become orders in the near future.
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