SARATOGA SPRINGS, N.Y., Nov. 12, 2025 (GLOBE NEWSWIRE) -- Espey Mfg. & Electronics Corp. (NYSE:ESP) announces results for the first three months of fiscal year 2026.

Net sales for the three months ended September 30, 2025 and 2024 were $9,092,876 and $10,443,218, respectively. Net income for the three months ended September 30, 2025 was $2,169,836 or $0.80 and $0.76 per share, basic and diluted, compared to net income of $1,598,317 or $0.63 and $0.61 per share, basic and diluted, for the three months ended September 30, 2024.

The total backlog at September 30, 2025 was approximately $141.1 million, compared to approximately $94.6 million at September 30, 2024. New orders received in the first three months of fiscal year 2026 were roughly $10.5 million as compared to $7.8 million new orders received in the first three months of fiscal year 2025.

Mr. 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.

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.

Espey Mfg. & Electronics Corp. reports first quarter results