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Espey Mfg. & Electronics Corp. (NYSE Amex: ESP) announcesresults for its third quarter and the nine months of fiscal 2012,ended March 31, 2012. Net sales for the third quarter of fiscal year 2012, January 1 toMarch 31, 2012, increased to $7,661,946 as compared with lastfiscal year's third quarter net sales of $7,005,795. Net income forthe period was $1,262,863, $.58 per diluted share, as compared withnet income of $1,012,031, $.46 per diluted share for thecorresponding period the last fiscal year. For the first nine months of fiscal year 2012, July 1, 2011 toMarch 31, 2012 net sales increased to $23,921,627, as compared with$19,613,467 for the first nine months of fiscal 2011. Net incomefor the period increased to $3,260,630, $1.48 per diluted share, ascompared with net income of $2,415,317, $1.11 per diluted share,for the corresponding period last fiscal year. The sales order backlog for the Company was $36.9 million at March31, 2012, compared with last fiscal year's sales order backlog of$41.5 million at March 31, 2011. Mr. Mark St. Pierre, President and CEO, commented: As the Defense community continues to transition from the war-timetempo of the last decade in Iraq and Afghanistan, uncertaintytranslates to postponed defense acquisitions and additionalscrutiny on every dollar spent. We are therefore especiallygratified by both sales and earnings results for our fiscal 3 rd quarter. In a general economic climate still suffering thelingering effects of persistently high unemployment, slow housingstarts and depressed consumer spending, Espey is growing, albeit ita modest pace. While both defense spending and general economicsluggishness are a concern, we remain cautiously optimistic thatEspey will register modest growth while maintaining profitabilitythrough this uncertain period. Espey's primary business is the development, design, and productionof specialized military and industrial power supplies/electronicequipment. The Company's web site can be found on the Internet at. This press release may contain certain statements that are"forward-looking statements" and are made pursuant to the safeharbor provisions of the Private Securities Litigation Reform Actof 1995. These forward-looking statements represent the Company'scurrent expectations or beliefs concerning future events. Thematters covered by these statements are subject to certain risksand uncertainties that could cause actual results to differmaterially from those set forth in the forward-looking statements.The Company wishes to caution readers not to place undue relianceon any such forward-looking statements, which speak only as of thedate made. We are high quality suppliers, our products such as Passive Optical Multiplexer , China Fiber Optic Splice Closure for oversee buyer. To know more, please visits SFP Transceiver Module.
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