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Schmitt Industries Inc. Reports Operating Results for Fiscal Quarter Ended on 2008-11-30
Posted by: gurufocus (IP Logged)
Date: January 13, 2009 07:08PM

Schmitt Industries Inc. (SMIT) filed Quarterly Report for the period ended 2008-11-30.

Schmitt Industries Inc. designs assembles and markets computer-controlled balancing equipment for use primarily by the machine toolindustry. Through its wholly owned subsidiary Schmitt Measurement SystemsInc. a Montana corporation the company designs manufactures andmarkets precision laser measurement systems. Schmitt Industries Inc. has a market cap of $10.19 million; its shares were traded at around $3.6 with a P/E ratio of 11.9 and P/S ratio of 0.89. Schmitt Industries Inc. had an annual average earning growth of 14.6% over the past 5 years.

Highlight of Business Operations:

The Company markets and sells its products worldwide and international sales have accounted for and are expected to continue to account for a significant portion of future revenue. The Company operates a subsidiary in the United Kingdom and acquires certain materials and services from vendors transacted in foreign currencies. Therefore, the Company’s business and financial condition is sensitive to currency exchange rates or any other restrictions imposed on their currencies. For the three months ended November 30, 2008 and 2007, results of operations included losses on foreign currency translation of $29,000 and $7,000, respectively. For the six months ended November 30, 2008 and 2007, results of operations included losses on foreign currency translation of $39,000 and $0, respectively.


Read the The complete Report

More on SMIT:

Gurus buys and sells of SMIT
10-year financial history of SMIT.
Insider buys/sells of SMIT.



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