Stronger sales of its dampers to protect buildings and bridges from damage due to earthquakes and high winds helped Taylor Devices more than double its third-quarter profits, but the North Tonawanda shock absorber manufacturer also warned that its order bookings had softened.
Taylor Devices, which is on pace for record sales this year, said this week that its profits jumped to $1.2 million, or 35 cents per share, during the quarter that ended in February, up from $391,754, or 12 cents per share, a year ago. The company’s sales rose by 27 percent, to $8.3 million, from $6.7 million.
But Taylor Devices also warned that its order bookings for seismic products have been flat, with developers delaying projects because of uncertainty about the U.S. economy. Aerospace orders have remained steady, the company said. Taylor Devices’ backlog of orders has shrunk by 36 percent over the last year to $19.5 million at the end of February, compared with $30.3 million in February 2015.
The company is building a 10,000-square-foot addition, with ceilings that are 35 feet tall, to its North Tonawanda factory that will allow it to work on bigger dampers, up to a length of about 45 feet. The addition is expected to be completed by the beginning of August.