Schmitt Industries (SMIT) Reports Q2 Loss of $0.03/Share, Names CFO
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Schmitt Announces Second Quarter 2020 Operating Results and CFO Appointment
January 15, 2020 8:17 AM ESTPORTLAND, Ore., Jan. 15, 2020 (GLOBE NEWSWIRE) -- Schmitt Industries, Inc. (NASDAQ: SMIT) (the Company or Schmitt) today announced its operating results for the second quarter of Fiscal 2020.
Highlights of the three and six months ended November 30, 2019:
Schmitt completed the announced sale of the Schmitt Dynamic Balance Systems (SBS) business line to Tosei Engineering Corp. and Tosei America, Inc. (collectively Tosei) for gross proceeds of $10.5 million on November 22, 2019. This sale allows Schmitt to streamline its focus on the Xact and Acuity business lines. All continuing operation results are a... More