Schmitt Industries (SMIT) Reports Q1 Loss of $0.04/Share
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Schmitt Industries Announces First Quarter Fiscal 2017 Operating Results
October 7, 2016 4:10 PM EDTPORTLAND, Ore., Oct. 07, 2016 (GLOBE NEWSWIRE) -- Schmitt Industries, Inc. (NASDAQ: SMIT) today announced its operating results for the quarter ended August 31, 2016. For the three months ended August 31, 2016, total sales decreased $211,852, or 6.8%, to $2,892,532 from $3,104,384 for the three months ended August 31, 2015. Net loss was $125,629, or $(0.04) per fully diluted share, for the three months ended August 31, 2016 as compared to net loss of $195,062, or $(0.07) per fully diluted share, for the three months ended August 31, 2015.
Balancer segment sales focus throughout the world on end-users, rebuilders and original equipment manufacturers of grinding machines with the... More
