Schmitt Industries Announces First Quarter Fiscal 2019 Operating Results
Schmitt Industries, Inc. (SMIT)
US:NASDAQ Investor Relations:
investor.schmitt-ind.com/investor-relations
Company Research
Source: GlobeNewswire
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 Company’s 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 August 31, 2018 and;Operating expenses decreased $91,201 in quarter over quarter comparison. Summary data for the three months ended August 31, 2018 and 2017: Three Months Ended August 31,
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