Espey Mfg. reports Q3 EPS 40c vs. 35c last year

Reports Q3 revenue $8.25M vs. $9.81M last year. 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.”