Schmitt Industries, Inc. (SMIT) Reports Q2 Loss Per Share of $0.13

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Go back to Schmitt Industries, Inc. (SMIT) Reports Q2 Loss Per Share of $0.13

Schmitt Industries Announces Second Quarter Fiscal 2016 Operating Results

January 8, 2016 4:10 PM EST

PORTLAND, Oregon, Jan. 08, 2016 (GLOBE NEWSWIRE) -- Schmitt Industries, Inc. (NASDAQ: SMIT) today announced its operating results for the three and six months ended November 30, 2015.  For the three months ended November 30, 2015, total sales decreased $77,735, or 2.5%, to $3,073,769 from $3,151,504 in the three months ended November 30, 2014.  Net loss was $403,787, or $(0.13) per fully diluted share, for the three months ended November 30, 2015 as compared to net loss of $69,840, or $(0.02) per fully diluted share, for the three months ended November 30, 2014.

For the six months ended November 30, 2015, total sales decreased $22,639, or 0.4%, to $6,178,153 from $6,200,792 in the six months ended November... More