Taylor Devices’ fourth-quarter profits rose by 23 percent, despite a 15 percent drop in the North Tonawanda shock absorber manufacturer’s sales.
Taylor Devices said its profits improved to $1.1 million, or 31 cents per share, from $886,575, or 26 cents per share, a year ago.
The company’s sales fell to $9.1 million during the quarter that ended in May from $10.8 million a year earlier.
Taylor Devices’ backlog of orders fell by 15 percent to $21.5 million at the end of May, down from $25.2 million in May 2015.
Douglas P. Taylor, the company’s president, said work on a 10,000-square-foot expansion of its Tonawanda Island production facility is expected to be completed by the end of September, following delays caused by the relocation of utility poles on the property.
Taylor said he expects the company, which had record sales of $35.7 million last year and set an all-time high with $4.2 million in profits, to have “another profitable & successful year” in 2017.