Schmitt Industries (SMIT)

Schmitt Industries, Inc., founded in 1987, designs, manufactures and sells high precision test and measurement products, solutions and services through its Acuity® and Xact® product lines. Acuity provides laser and white light sensor distance measurement and dimensional sizing products, and our Xact line provides ultrasonic-based remote tank monitoring products and related monitoring revenues for markets in the Internet of Things environment. The Company also owns and operates Ample Hills Creamery, a beloved ice cream manufacturer and retailer based in Brooklyn, NY.

Company profile

Ticker

SMIT

Exchange

NASDAQ

Website

www.schmitt-ind.com

CEO

David Case

Incorporated

Oregon

Location

Oregon

Fiscal year end

May 31

Sector

Manufacturing > Instruments and Related Products Manufacturing for Measuring, Displaying, and Controlling Industrial Process Variables

Industry (SIC)

Industrial Instruments For Measurement, Display, and Control

Danaher • Fortive • Roper • Ametek • Sensata Technologies Holding • Keysight • MKS Instruments • Cognex • Rudolph • Sypris Solutions ...

SEC CIK

0000922612

Corporate docs

Articles of Incorporation & Bylaws

Underwriting Agreements

Plans of Reorganization

Indentures

Material Contracts & Credit Agreements

Subsidiaries Lists

Subsidiaries

Schmitt Measurement Systems, Inc. • Ample Hills Acquisition LLC • Ample Hills Sub 1 LLC • Ample Hills Sub 2 LLC • Ample Hills Sub 3 LLC • Ample Hills Sub 4 LLC • Ample Hills Sub 5 LLC • Ample Hills Sub 6 LLC • Ample Hills Sub 7 LLC • Ample Hills Sub 8 LLC ...

IRS number

931151989

SMIT stock data

1M 1Y 5Y

Press releases

From Benzinga Pro

SCHMITT INDUSTRIES PROVIDES AMPLE HILLS AND CORPORATE UPDATES

16 Jun 22

PORTLAND, Ore., June 16, 2022 /PRNewswire/ -- Schmitt Industries, Inc. (NASDAQ:SMIT) (the "Company" or "Schmitt") today provided an update on Ample Hills and strategic transactions. Ample Hills ice cream

SCHMITT INDUSTRIES ANNOUNCES IT HAS ENTERED INTO LOI FOR XACT ASSETS

18 May 22

PORTLAND, Ore., May 18, 2022 /PRNewswire/ -- Schmitt Industries, Inc. (NASDAQ:SMIT) (the "Company" or "Schmitt") announced that it has entered into a letter of intent to sell all assets related to its

SCHMITT ANNOUNCES FY22 Q3 RESULTS AND STRATEGIC INTENTION TO FOCUS ON AMPLE HILLS CREAMERY

14 Apr 22

PORTLAND, Ore., April 14, 2022 /PRNewswire/ -- Schmitt Industries, Inc. (NASDAQ:SMIT) (the "Company" or "Schmitt") today announced its results for the third quarter of fiscal year 2022. In addition, the

Calendar

14 Apr 22

26 Jun 22

31 May 23

Financial summary

Financial statements Chart SMIT financial data

Quarter (USD)	Feb 22	Nov 21	Aug 21	May 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Annual (USD)	May 21	May 20	May 19	May 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Cash burn rate (est.)	Burn method: Change in cash		Burn method: Operating income		Burn method: FCF (opex + capex)
	Last Q	Avg 4Q	Last Q	Avg 4Q	Last Q	Avg 4Q
Cash on hand (at last report)	2M	2M	2M	2M	2M	2M
Cash burn (monthly)	857.84K	180.59K	795.44K	857.68K	855.52K	682.43K
Cash used (since last report)	3.4M	716.81K	3.16M	3.4M	3.4M	2.71M
Cash remaining	-1.41M	1.28M	-1.16M	-1.41M	-1.4M	-709.46K
Runway (months of cash)	-1.6	7.1	-1.5	-1.6	-1.6	-1.0

Beta Read what these cash burn values mean

Financial data from company earnings reports.

Recent insider trades

SMIT insider ownership history Insider history

Date	Owner	Security	Transaction	Code	Indirect	10b5-1	$Price	#Shares	$Value	#Remaining
14 Apr 22	Zapata Michael R.	Common Stock	Payment of exercise	Dispose F	No	No	4.87	616	3K	65,604
14 Apr 22	Zapata Michael R.	Common Stock	Grant	Acquire A	No	No	0	1,541	0	66,220
14 Apr 22	Zyngier Alexandre	Common Stock	Grant	Acquire A	No	No	0	1,361	0	6,534
14 Apr 22	Lillian Tung	Common Stock	Payment of exercise	Dispose F	No	No	4.87	503	2.45K	6,603
14 Apr 22	Lillian Tung	Common Stock	Grant	Acquire A	No	No	0	1,258	0	7,106
14 Mar 22	Philip Bosco	Common Stock	Grant	Acquire A	No	No	0	1,527	0	10,749
14 Jan 22	Lillian Tung	Common Stock	Payment of exercise	Dispose F	No	No	5.15	476	2.45K	5,848
14 Jan 22	Lillian Tung	Common Stock	Grant	Acquire A	No	No	0	1,190	0	6,324

Data from 3, 4 and 5 filings. Values as filed, not updated for current price.

Institutional ownership, Q1 2022

SMIT institutional ownership history Ownership history

30.7% owned by funds/institutions

13F holders	Current	Prev Q	Change
Total holders	10	5	+100.0%
Opened positions	6	2	+200.0%
Closed positions	1	7	-85.7%
Increased positions	0	0
Reduced positions	1	1	–

13F shares	Current	Prev Q	Change
Total value	5.11M	1.7M	+200.5%
Total shares	1.18M	470.17K	+150.1%
Total puts	0	0
Total calls	0	0
Total put/call ratio	–	–	–

Largest owners	Shares	Value	Change
TETAA Teton Advisors	593K	$2.89M	NEW
Sententia Capital Management	299.12K	$779K	0.0%
Activist Investing	126.56K	$676K	0.0%
Bridgeway Capital Management	61.5K	$296K	NEW
MS Morgan Stanley	51.59K	$252K	NEW
Advisor	37.4K	$182K	-15.0%
UBS UBS Group AG - Registered Shares	3.96K	$20K	NEW
Tower Research Capital	2.16K	$10K	NEW
BLK Blackrock	498	$2K	0.0%
WFC Wells Fargo & Co.	22	$0	NEW

Largest transactions	Shares	Bought/sold	Change
TETAA Teton Advisors	593K	+593K	NEW
Bridgeway Capital Management	61.5K	+61.5K	NEW
MS Morgan Stanley	51.59K	+51.59K	NEW
Advisor	37.4K	-6.6K	-15.0%
UBS UBS Group AG - Registered Shares	3.96K	+3.96K	NEW
Tower Research Capital	2.16K	+2.16K	NEW
WFC Wells Fargo & Co.	22	+22	NEW
BAC Bank Of America	0	-3	EXIT
Proequities	0	0
BLK Blackrock	498	0	0.0%

Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.

Financial report summary

Competition

Soluna

Management Discussion

Schmitt Industries, Inc. (the "Company", "Schmitt", "we" or "our") operates a diversified business. The Company reports in two business segments, the Ice Cream Segment and the Measurement Segment.

Content analysis

Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability	H.S. sophomore Avg

New words: adverse, adversely, behavior, chain, Competitive, conflict, consummate, costly, deteriorate, drawdown, economy, energy, expansion, experience, extreme, footprint, formalized, freight, fuel, geopolitical, global, inflation, inflationary, influence, inhibiting, insolvency, merchandise, notification, occupancy, Past, political, rely, reoccur, spending, summer, supplement, supply, tightening, Ukraine, unemployment, unrest, vulnerable, wage, war, worldwide

Removed: applicable, bear, behalf, listing, mature, refer

From filing 10-Q 2022 Q3

Financial reports

View all