Espey Mfg. & Electronics Corp. reports fourth quarter and year-end results
MWN-AI** Summary
Espey Mfg. & Electronics Corp. (NYSE American: ESP), based in Saratoga Springs, N.Y., has reported its financial results for the fourth quarter and the fiscal year ended June 30, 2025. The company achieved net sales totaling approximately $43.95 million for the fiscal year, demonstrating a significant increase from the prior year’s sales of around $38.74 million. Net income for the year surged to $8.14 million, equating to $3.02 per diluted share, up from $5.82 million, or $2.29 per diluted share, in fiscal 2024. Notably, the company’s backlog reached a record high of $139.7 million, a considerable rise from last year’s backlog of $97.2 million.
In the fourth quarter, Espey recorded net sales of $9.60 million, a decline from $11.61 million in the same quarter last year. However, net income for this quarter rose to $2.93 million, or $1.05 per diluted share, compared to $1.89 million, or $0.73 per diluted share, in the previous year’s quarter. Additionally, total new orders for the fiscal year reached $86.4 million, significantly higher than the $52.4 million reported the previous year.
President and CEO David O’Neil praised the company’s performance, attributing the success to the team’s hard work and dedication. He emphasized the importance of strong execution and customer relationships in driving revenue growth. As Espey looks forward to the new fiscal year, the company is committed to investing in both its workforce and product development to foster long-term growth.
Espey specializes in designing and manufacturing military and industrial power supplies and transformers. For more details, visit their website at www.espey.com.
MWN-AI** Analysis
Espey Mfg. & Electronics Corp. (NYSE American: ESP) has recently reported its fourth quarter and fiscal year results, reflecting a robust performance that showcases its growth potential and market resilience. For the fiscal year ending June 30, 2025, Espey achieved a significant revenue increase, reporting net sales of approximately $44 million, up from $38.7 million in the previous fiscal year. This 13% growth is commendable, particularly in an economic environment that has presented challenges across various sectors. Notably, net income rose appreciably from $5.8 million to $8.1 million, indicating improved operational efficiency and profitability.
One of the critical indicators of future growth is the company's backlog, which surged to $139.7 million, a 43% increase from last year's figure of $97.2 million. This backlog suggests a solid flow of future orders, supported by an impressive spike in new orders, which rose to $86.4 million from approximately $52.4 million in the prior year. Such metrics underscore the strength of Espey’s customer relationships and the demand for their specialized military and industrial power supplies.
Despite a decline in fourth-quarter sales compared to the prior year, which saw net sales of nearly $11.6 million, the overall year-end performance is encouraging. Management’s commitment to investing in their workforce and product innovation is a positive long-term strategy that may yield dividends as they enhance their competitive edge.
For investors, Espey's upward trajectory, strong backlog, and improving profitability present an attractive investment opportunity. However, potential investors should keep a close eye on market conditions affecting defense contractors and any geopolitical factors impacting demand. Overall, Espey's strong earnings growth, robust backlog, and strategic investments position it well for continued success in the coming fiscal year.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
SARATOGA SPRINGS, N.Y., Sept. 16, 2025 (GLOBE NEWSWIRE) -- Espey Mfg. & Electronics Corp. (NYSE American: ESP) announces results for its fourth quarter and fiscal year, ended June 30, 2025.
For the fiscal year ended June 30, 2025, the Company reported net sales of $43,950,872 compared with $38,736,319 for the fiscal year ended June 30, 2024. Net income for the year was $8,142,954, $3.02 per diluted share, compared with net income of $5,815,140, $2.29 per diluted share, for the fiscal year ended June 30, 2024. At June 30, 2025, the backlog was $139.7 million, compared to last year’s backlog of $97.2 million at June 30, 2024.
For the fourth quarter ended June 30, 2025, net sales were $9,596,194 compared with last year’s fourth quarter net sales of $11,610,911. The net income for the fourth quarter ended June 30, 2025 was $2,931,651, $1.05 per diluted share, compared with net income of $1,893,296, $0.73 per diluted share, for the corresponding period last year.
In addition, new orders for the fiscal year ended June 30, 2025 were $86.4 million compared with approximately $52.4 million for the corresponding period last year.
Mr. 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.”
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 invest@espey.com .
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.
FAQ**
How does Espey Mfg. & Electronics Corp. ESP plan to maintain its revenue growth following the significant increase in net sales from $38.7 million to $43.9 million in fiscal year 2025?
With a record backlog of $139.7 million for Espey Mfg. & Electronics Corp. ESP, what strategies does the company have in place to convert these orders into revenue?
Given the substantial rise in new orders for Espey Mfg. & Electronics Corp. ESP from $52.4 million to $86.4 million, what factors contributed to this growth in demand?
How does Espey Mfg. & Electronics Corp. ESP plan to continue investing in its people and products to sustain long-term value as mentioned by CEO David O'Neil?
**MWN-AI FAQ is based on asking OpenAI questions about Espey Mfg. & Electronics Corp. (NYSE: ESP).
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