ESP News & Events

Reports Q2 revenue $12.14M vs. $13.61M last year. Reports backlog at the end of Q2 was $134.7M vs. $120.1M last year. "We delivered solid margins, made meaningful progress across key programs, and continue to see encouraging trends as we move through the year," said CEO David O'Neil.

Reports Q1 revenue $9.09M vs. $10.44M last year. David O'Neil, President and CEO, commented, "Our team maintained solid execution this period. Despite softer sales, we saw significant improvement in gross profit, backlog levels, and net income results for the quarter. The year-over-year sales decline reflects nothing more than a change in the timing of shipments for the year. Our team continues to focus on finding labor efficiencies, negotiating savings on materials, and effective resource management--efforts that are clearly reflected in the strength of our gross profits. Overall, the progress we made this quarter positions the Company well for the rest of the fiscal year and highlights our ongoing commitment to creating value for our stockholders."

Reports Q4 revenue $9.6M vs. $11.61M last year. David O'Neil, president and CEO, commented, "The year brought meaningful results, thanks to the hard work and focus of our entire team. We saw steady revenue growth fueled by strong execution and lasting customer relationships. Our backlog is at record levels, and new orders were very strong. This success belongs to our employees, and is a moment worth celebrating. As we begin the next fiscal year, we continue to invest in our people and our products, with the goal of building long-term value. I want to sincerely thank our team for their dedication and our investors and shareholders for their ongoing support."

The board of directors of Espey Mfg. & Electronics Corp. has declared a special cash dividend of 75c per share. This special dividend is in addition to a regular quarterly dividend of 25c per share. The dividends will be payable on September 26 to all shareholders of record on September 19.