Last $2.65 USD
Change Today -0.13 / -4.68%
Volume 110.7K
SMIT On Other Exchanges
Symbol
Exchange
NASDAQ CM
Frankfurt
As of 8:10 PM 07/23/14 All times are local (Market data is delayed by at least 15 minutes).

schmitt industries inc (SMIT) Snapshot

Open
$2.69
Previous Close
$2.78
Day High
$2.80
Day Low
$2.62
52 Week High
04/17/14 - $3.50
52 Week Low
09/13/13 - $2.40
Market Cap
7.9M
Average Volume 10 Days
23.3K
EPS TTM
$-0.17
Shares Outstanding
3.0M
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for SCHMITT INDUSTRIES INC (SMIT)

Related News

No related news articles were found.

schmitt industries inc (SMIT) Related Businessweek News

No Related Businessweek News Found

schmitt industries inc (SMIT) Details

Schmitt Industries, Inc. designs, manufactures, and sells computer-controlled vibration detection, and balancing and process control systems primarily to the machine tool industry in North America, Europe, and Asia. It operates in two segments, Balancer and Measurement. The Balancer segment offers Schmitt Dynamic Balance System, which consists of a computer control unit, vibration sensor, spindle-mounting adapter, and balance head, as well as an optional acoustical emission monitoring system to monitor the frequency signals generated on the grinding machine. This segment provides its products to manufacturers and operators of grinding machines covering various industries, such as automotive, aerospace, medical, and machine tools through independent manufacturers’ representatives and distributors. The Measurement segment designs, manufactures, and sells laser and white light sensors for distance, dimensional, and area measurement in various commercial applications; laser-based microroughness measurement products for the semiconductor wafer, hard disk drive, and other industrial applications; laser-based surface analysis and measurement products for various scientific applications; and ultrasonic measurement products that measure the liquid levels of propane tanks and transmit that data via satellite to a secure web site for display. Its products include surface roughness measurement products, such as TMS-2000-RC, a non-contact texture measurement system; and TMS-2000W-RC and TMS-3000W-RC for manufacturers of silicon wafers, device quality semiconductors, and memory devices. This segment also offers AccuRange sensors and scanners; Lasercheck, a line of surface roughness measurement gauges; Complete Angle Scatter Instrument Scatterometers; and Remote Tank Monitoring Products, including Xact Tank Monitoring Systems. The company was founded in 1984 and is headquartered in Portland, Oregon.

schmitt industries inc (SMIT) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $191.0K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $22.2K
Vice President of Operations
Total Annual Compensation: $161.2K
Compensation as of Fiscal Year 2013.

schmitt industries inc (SMIT) Key Developments

Schmitt Industries, Inc. Announces Consolidated Unaudited Earnings Results for the Fourth Quarter and Full Year Ended May 31, 2014

Schmitt Industries, Inc. announced consolidated unaudited earnings results for the fourth quarter and full year ended May 31, 2014. For the quarter, the company reported operating loss was $132,132 compared with $401,359 for the same period a year ago. Loss before income taxes was $155,423 compared with $393,333 for the same period a year ago. Net loss was $157,757 or $0.05 per basic and diluted share compared with $364,322 or $0.12 per basic and diluted share for the same period a year ago. For the three months ended May 31, 2014, total sales decreased $247,055, or 7.5%, to $3,025,844 from $3,272,899 in the three months ended May 31, 2013. For the full year, the company reported operating loss was $512,405 compared with $562,272 for the same period a year ago. Loss before income taxes was $530,292 compared with $548,166 for the same period a year ago. Net loss was $539,624 or $0.18 per basic and diluted share compared with $539,882 or $0.18 per basic and diluted share for the same period a year ago. For the fiscal year ended May 31, 2014, total sales decreased $317,746, or 2.6%, to $12,134,506 from $12,452,252 in the year ended May 31, 2013.

Schmitt Industries, Inc. Enters into First Amended and Restated Loan Agreement with Bank of America

Effective April 7, 2014, Schmitt Industries, Inc. entered into First Amended and Restated Loan Agreement with Bank of America, N.A. The Loan Agreement provides for the following terms: a revolving line of credit for borrowing up to $2,000,000; expiration of the Loan Agreement to occur on September 1, 2014; an interest rate on any borrowings equal to the Bank's Prime Rate (as defined in the Loan Agreement) or an optional rate defined as the LIBOR Rate plus two percentage points (2.0%); an annual unused commitment fee multiplier of 0.50% (payable on the difference between the amount available for borrowing and the amount of credit actually used, determined on an average daily basis); regular interest payments to be made on the first day of each month; and the securitization of certain collateral, including the company's inventory, receivables and deposit account. The terms governing and describing the collateral are further set forth in the previously existing Security Agreement (Multiple Use) with the Bank (the Existing Security Agreement) and a new Security Agreement (Deposit Account - Specific) with the Bank (the New Security Agreement). Upon the occurrence of any default under the Loan Agreement, all amounts outstanding under the Loan Agreement (including any unpaid, interest, fees or costs) will, at the option of the Bank, bear interest at a rate which is 6% higher than the interest rate that is otherwise in effect under the Loan Agreement. The Loan Agreement contains customary representations and warranties, affirmative and negative covenants and customary events of default that permit the Bank to accelerate the Bank's outstanding obligations under the Loan Agreement.

Schmitt Industries, Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended February 28, 2014

Schmitt Industries, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended February 28, 2014. For the quarter, the company reported net loss of $72,107 or $0.02 per share as compared to a net loss of $191,104 or $0.06 per share, during the same quarter last year. Net sales were $3,066,163 compared to $2,796,429 for the same period a year ago. Operating loss was $81,655 compared to $173,682 a year ago. Loss before income taxes were $70,158 compared to $176,029 a year ago. For the nine months, the company reported net sales of $9,108,662 compared to $9,179,353 a year ago. Operating loss was $380,273 compared to $160,913 a year ago. Loss before income taxes was $374,869 compared to $154,833 a year ago. Net loss was $381,867 compared to $175,560 a year ago. Basic and diluted net loss per share was $0.13 compared to $0.06 a year ago.

 

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup
Recently Viewed
SMIT:US $2.65 USD -0.13

SMIT Competitors

Market data is delayed at least 15 minutes.

Company Last Change
Keyence Corp ¥42,960 JPY -30.00
View Industry Companies
 

Industry Analysis

SMIT

Industry Average

Valuation SMIT Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 0.7x
Price/Book 0.8x
Price/Cash Flow NM Not Meaningful
TEV/Sales 0.5x
 | 

Sponsored Financial Commentaries

Sponsored Links

Report Data Issue

To contact SCHMITT INDUSTRIES INC, please visit www.schmitt-ind.com. Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.