Schmitt Industries Announces Fourth Quarter and Fiscal 2017 Operating Results
Schmitt Industries, Inc. (SMIT)
US:NASDAQ Investor Relations:
investor.schmitt-ind.com/investor-relations
Company Research
Source: GlobeNewswire
PORTLAND, Ore., July 14, 2017 (GLOBE NEWSWIRE) -- Schmitt Industries, Inc. (NASDAQ:SMIT) today announced its operating results for the fourth quarter and fiscal year ended May 31, 2017. Total sales increased $671,693, or 22.5%, to $3,650,428 for the three months ended May 31, 2017 as compared to $2,978,735 for the three months ended May 31, 2016. Net loss was $433,932, or $(0.14) per fully diluted share, for the three months ended May 31, 2017 as compared to net loss of $465,434, or $(0.16) per fully diluted share, for the three months ended May 31, 2016. For the fiscal year ended May 31, 2017, total sales increased $712,290, or 6.1%, to $12,397,643 as compared to total sales of $11,685,353 for the fiscal year ended May 31, 2016. Net loss was $1,073,364, or $(0.36) per fully diluted share, for fiscal year 2017 as compared to net loss of $1,515,189, or $(0.51) per fully diluted share, for fiscal year 2016. Balancer segment sales focus throughout the world on end-users, rebuilder
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