Net sales for the first quarter of fiscal year 2024,
The backlog for the Company was approximately
Mr. David O’Neil, President and CEO, commented:
"I am very pleased with our results highlighted by the significant improvement in operating margins as sales and new orders remained strong. Our sales backlog is at a record level and our continued financial performance over the last several quarters has enabled us to pay the most recent dividend which was a 50% increase over the prior dividend. We are well positioned for another successful year."
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:
2023 GlobeNewswire, Inc., source