Espey Manufacturing & Electronics Corp. engages in the development, design, and production of specialized military and industrial power supplies/transformers. Its products include power supplies, power converters, filters, power transformers, magnetic components, power distribution equipment, ups systems, antennas, and high power radar systems. The company was founded in 1928 and is headquartered in Saratoga Springs, NY.
Net sales for the years ended June 30, 2019 and 2018 were $36,477,851 and $32,517,883, respectively, a 12% increase. The increase in net sales in fiscal year 2019 is primarily due to an increase in build to print sales for product which had no shipments in the prior fiscal year, an increase in magnetic sales consisting of certain engineering deliverables, and product shipments on one long-term program, offset, in part, by a decrease in power supply shipments. Although shipments supporting the rail industry increased and remain strong, the overall decline in power supply shipments in fiscal year 2019 relates primarily to the timing of shipments related to one military contract which had significant shipments in the prior fiscal year.