SCHMITT INDUSTRIES INC Files SEC form 8-K, Results of Operations and Financial Condition, Change in Directors or Prin

Show all filings for SCHMITT INDUSTRIES INC | Request a Trial to NEW EDGAR Online Pro Form 8-K for SCHMITT INDUSTRIES INC 14-Jul-2009Results of Operations and Financial Condition, Change in Directors or Prin Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All informati...
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Schmitt Industries Announces Annual Meeting Date

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SCHMITT INDUSTRIES INC Files SEC form 10-K, Annual Report

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations RESULTS OF OPERATIONS Overview Schmitt Industries, Inc. designs, manufactures and markets computer controlled vibration detection and balancing equipment (the Balancer segment) to the worldwide machine tool industry and, through its wholly owned subsidiary, Schmitt Measurement Systems, Inc., precision laser-based surface measurement products, laser-based distance measurement products and ultrasonic measurement systems (the Measurement segment) for a variety of industrial applications worldwide. The Company sells and markets its products in Europe through its wholly owned subsidiary, Schmitt Europe Ltd. (SEL) located in the United Kingdom. The Company is organized into two operating segments: the Balancer segment and the Measurement segment. For the year ended May 31, 2009 (Fiscal 2009), total sales decreased $1.9 million or 16.8% to $9.5 million from $11.4 million in the year ended May 31, 2008 (Fiscal 2008). Balancer segment sales focus throughout the world on end-users, rebuilders and original equipment manufacturers of grinding machines with the target geographic markets in North America, Asia and Europe. Balancer sales decreased $1.4 million or 17.2% to $7.0 million in Fiscal 2009 compared to $8.4 million in Fiscal 2008. The Fiscal 2009 decrease in worldwide balancer sales is due to lower volumes of shipments as the worldwide automotive industry has been severely impacted by the global economic downturn. The Measurement segment product line consists of both laser-based light-scatter and distance measurement and dimensional sizing products. Total Measurement sales decreased $477,000 or 15.9% to $2.5 million in Fiscal 2009 compared to $3.0 million in Fiscal 2008. The decrease is primarily due to the lower volumes of shipments of surface measurement products to disk drive and silicon wafer manufacturers. During the third quarter of Fiscal 2008, the Compa...
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SCHMITT INDUSTRIES INC Files SEC form 8-K, Change in Directors or Principal Officers, Financial Statements and Exhibi

Show all filings for SCHMITT INDUSTRIES INC | Request a Trial to NEW EDGAR Online Pro Form 8-K for SCHMITT INDUSTRIES INC 15-Jul-2009Change in Directors or Principal Officers, Financial Statements and Exhibi Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information pro...
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SCHMITT INDUSTRIES INC Files SEC form 8-K, Entry into a Material Definitive Agreement, Financial Statements and Exhib

Show all filings for SCHMITT INDUSTRIES INC | Request a Trial to NEW EDGAR Online Pro Form 8-K for SCHMITT INDUSTRIES INC 24-Sep-2009Entry into a Material Definitive Agreement, Financial Statements and Exhib Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information pr...
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Schmitt Industries Announces Agreement to Acquire Assets of Optical Dimensions®

PORTLAND, Ore.--(BUSINESS WIRE)--Schmitt Industries, Inc. (NASDAQ: SMIT - News) today announced that it has entered into a definitive agreement to acquire all the assets of Optical Dimensions®, a sole proprietorship that designs, manufactures and markets the Lasercheck® line of roughness gauges, for $100,000 cash and shares of Schmitt common stock equal in value to $100,000. The transaction is expected to close within the next six days. Lasercheck® is a unique Ra laser based non-contact roughness monitor incorporating patented “laser light scatter” technology that can make precision repeatable surface roughness measurements in the 0.01 to 10 micron (0.40 to 400 micro inch) range. Lasercheck® provides high speed in-process measurements in a fraction of a second and is optimized for surface measurements of ground, sanded, polished, honed, super-finished and shot blasted surfaces. Lasercheck is used by leading manufacturers in a variety of industries throughout the world.“We are pleased to add Glenn Valliant and Optical Dimensions® to the Schmitt portfolio of test and measurement product lines,” commented James A. Fitzhenry, President of Schmitt Industries, Inc. “The Lasercheck® line of surface roughness gauges is a complimentary fit and extension to our existing surface roughness measurement products for ultra smooth surfaces, such as silicon wafers and hard disk ...
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Schmitt Industries Announces First Quarter of Fiscal 2010 Operating Results

SCHMITT INDUSTRIES, INC. CONSOLIDATED BALANCE SHEETS (UNAUDITED)   August 31, 2009 May 31, 2009 ASSETS Current assets Cash and cash equivalents $ 2,661,928 $ 4,174,335 Short-term investments 1,000,000 - Accounts receivable, net of allowance of $38,578 and $38,233 at August 31, 2009 and May 31, 2009, respectively 921,855 1,110,850 Inventories 3,953,782 3,866,971 Prepaid expenses 99,603 ...
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SCHMITT INDUSTRIES INC Financials

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SCHMITT INDUSTRIES INC Files SEC form 10-Q, Quarterly Report

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations Forward-Looking Statements This Quarterly Report filed with the SEC on Form 10-Q (the "Report"), including "Management's Discussion and Analysis of Financial Condition and Results of Operations" in this Item 2, contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding future events and the future results of Schmitt Industries, Inc. and its consolidated subsidiaries (the "Company") that are based on management's current expectations, estimates, projections and assumptions about the Company's business. Words such as "expects," "anticipates," "intends," "plans," "believes," "sees," "estimates" and variations of such words and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including, but not limited to, those discussed in the "Risk Factors," "Management's Discussion and Analysis of Financial Condition and Results of Operations" and elsewhere in this Report as well as those discussed from time to time in the Company's other Securities and Exchange Commission filings and reports. In addition, such statements could be affected by general industry and market conditions. Such forward-looking statements speak only as of the date of this Report or, in the case of any document incorporated by reference, the date of that document, and we do not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this Report. If we update or co...
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SCHMITT INDUSTRIES INC Files SEC form 8-K, Results of Operations and Financial Condition, Financial Statements and Ex

Show all filings for SCHMITT INDUSTRIES INC | Request a Trial to NEW EDGAR Online Pro Form 8-K for SCHMITT INDUSTRIES INC 5-Oct-2009Results of Operations and Financial Condition, Financial Statements and Ex Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information pro...
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