UPDATE: Schmitt Industries (SMIT) Reports Q4 Loss of $0.14/Share

Schmitt Industries (NASDAQ: SMIT) reported Q4 EPS of ($0.14), versus ($0.16) reported last year. Revenue for the quarter came in at $3.65 million, versus $2.98 million reported last year.

“Our mission for fiscal year 2017 has been to focus efforts on our three major product lines – SBS, Acuity and Xact – and to wind down or eliminate smaller product lines. This focus has lead to far more efficient use of the Company’s resources. Working to streamline our operations and expend more resources on sales and marketing initiatives should have the highest potential to bolster revenue growth,” commented David M. Hudson, President and CEO of Schmitt Industries. “We are encouraged by the sales results in both the third and fourth quarters of fiscal year 2017, and we are focused on continuing that trend into fiscal year 2018. In the meantime, we continue to pursue alternatives to right size our real estate holdings and manage closely our operating overhead,” Hudson concluded.

For earnings history and earnings-related data on Schmitt Industries (SMIT) click here.

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