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

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

Schmitt Industries Announces Fourth Quarter and Fiscal 2017 Operating Results

July 14, 2017 4:10 PM EDT

PORTLAND, Ore., July 14, 2017 (GLOBE NEWSWIRE) -- Schmitt Industries, Inc. (NASDAQ: SMIT) today announced its operating results for the fourth quarter and fiscal year ended May 31, 2017.  Total sales increased $671,693, or 22.5%, to $3,650,428 for the three months ended May 31, 2017 as compared to $2,978,735 for the three months ended May 31, 2016.  Net loss was $433,932, or $(0.14) per fully diluted share, for the three months ended May 31, 2017 as compared to net loss of $465,434, or $(0.16) per fully diluted share, for the three months ended May 31, 2016.

For the fiscal year ended May 31, 2017, total sales increased $712,290, or 6.1%, to $12,397,643 as compared to... More