SARATOGA SPRINGS, N.Y., May 12, 2026 (GLOBE NEWSWIRE) -- Espey Mfg. & Electronics Corp. (NYSE American: ESP) announces results for the first nine months of fiscal year 2026.
Net sales for the third quarter ending March 31, 2026, were $11,422,655 compared with last year's third quarter net sales of $10,302,719. Net income for the quarter was $2,864,662, $0.99 per diluted share, as compared to net income of $1,704,487, $0.63 per diluted share for the same quarter last year.
For the first nine months ending March 31, 2026 sales were $32,652,434, compared to $34,354,677 for first nine months of fiscal year 2025. Year to date net income for fiscal year 2026 was $7,839,607, $2.74 per diluted share, compared with net income of $5,211,303, $1.95 per diluted share, for the same period last year.
The backlog for the Company was approximately $137.1 million at March 31, 2026, compared with last year's backlog of $138.0 million at March 31, 2025. New orders in the first nine months of fiscal year 2026 were $30.0 million, compared with new orders in the first nine months of fiscal year 2025 of $75.1 million.
Mr. David O’Neil, President and CEO, commented,
With a strong quarter behind us, we continue accelerating into the remainder of the year with the confidence that we will deliver excellent full-year results. Most importantly, we continue strengthening margins through a combination of increased revenue, favorable product mix, improved operating leverage, and a disciplined focus on cost efficiencies. These results demonstrate the strength of our business model and our ability to convert top-line growth into improved profitability. The combination of strong revenue performance and margin expansion highlights the progress we’ve made in optimizing the quality and consistency of our earnings. Each quarter, I am impressed by and grateful to our employees for their ongoing commitment and energy. This performance would not be possible without them.
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. Kaitlyn O’Neil at [email protected].
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.