Schmitt Industries (SMIT) Reports Q1 Loss of $0.05/Share

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Go back to Schmitt Industries (SMIT) Reports Q1 Loss of $0.05/Share

Schmitt Industries Announces First Quarter Fiscal 2019 Operating Results

October 12, 2018 4:10 PM EDT

PORTLAND, Ore., Oct. 12, 2018 (GLOBE NEWSWIRE) -- Schmitt Industries, Inc. (NASDAQ: SMIT) today announced its operating results for the first quarter of Fiscal 2019.  Results for the three months ended August 31, 2018 reflect the Companys on-going initiatives to focus on increasing sales in both business segments, Balancer and Measurement, and decreasing operating expenses.

Highlights of the quarter ended August 31, 2018:

Balancer segment sales exceeded $2 million for the sixth consecutive quarter;Xact product sales and monitoring revenues, as a component of the Measurement segment, totaled $824,999 for three months ended... More