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BNET Industries

Schmitt Industries Inc. (SMIT) is in the Technology Industry

Revenue
May 31 2008
$11.4M
Profit
May 31 2008
$1.1M
Market Cap
Oct 06 2008
$15.2M

Latest News and Analysis

  • Schmitt Industries Appoints Executive Vice President

    PORTLAND, Ore. -- Schmitt Industries, Inc. (NASDAQ:SMIT) of Portland, Oregon announced today that James A. Fitzhenry has been named as Executive Vice President of the Company, effective June 1, 2008. The addition of Mr. Fitzhenry to Schmitt's management team will further strengthen the company's emphasis on growing its existing and...

    Articles 2008-05-01

  • Schmitt Industries Appoints New CFO

    PORTLAND, Ore. -- Schmitt Industries, Inc. (NASDAQ:SMIT) announced today that Mr. Jeffrey T. Siegal has been promoted to the position of Chief Financial Officer CFO and Corporate Treasurer. Mr. Siegal is a CPA and accounting professional with excellent technical skills and understanding of GAAP, SEC rules and regulations and Sarbanes...

    Articles 2008-04-15

  • Schmitt Industries Announces Third Quarter Operating Results

    PORTLAND, Ore. -- Schmitt Industries, Inc. (NASDAQ:SMIT) completed the fiscal third quarter ended February 29, 2008 with net income of $228,131 ($.08 per fully diluted share) compared to net income of $387,649 ($.14 per fully diluted share) for the fiscal quarter ended February 28, 2007. Sales were $2,811,111 for the...

    Articles 2008-04-08

  • Sensors measure distance

    [ILLUSTRATION OMITTED] Schmitt Industries' Acuity laser sensor brochure features the AR200 laser scanner, which is suitable for measuring defects on sheets, positioning silicon wafers and measuring steel-strip thickness. The AR600 family of triangulating laser displacement sensors is designed for carton dimensioning and architectural part-quality control. The AR4000 rangefinder...

    Articles 2008-04-01

  • System balances grinding machines

    [ILLUSTRATION OMITTED] Schmitt's SBS Dynamic Balance system is said to eliminate wheel vibration, minimize downtime and improve part quality. Providing accuracy to 0.02[micro] and speed ranges from 300 to 30,000 rpm, the SBS is said to balance grinding machines in seconds. Systems are available to fit machines with...

    Articles 2008-03-01

  • Schmitt Industries Announces Second Quarter Operating Results

    PORTLAND, Ore. -- Schmitt Industries, Inc. (NASDAQ:SMIT) completed the fiscal second quarter ended November 30, 2007, with income before provision for income taxes of $337,339 compared to income before provision for income taxes of $374,185 for the fiscal quarter ended November 30, 2006. Sales increased to $3,110,921 for the quarter...

    Articles 2008-01-22

  • Schmitt Industries Announces First Quarter Results

    PORTLAND, Ore. -- Schmitt Industries (NASDAQ:SMIT) completed the first quarter of Fiscal 2008 ended August 31, 2007 with net income of $184,415 or $.07 per fully diluted share compared to net income of $270,592 or $.10 per fully diluted share for the same quarter in the prior fiscal year. Income...

    Articles 2007-10-15

  • Schmitt Announces Interim Acquisition Agreement to Acquire Xtero Datacom, Inc

    PORTLAND, Ore. -- Schmitt Industries, Inc. Schmitt (NASDAQ:SMIT) is pleased to announce the completion of an Interim Acquisition Agreement with Xtero Datacom, Inc. Xtero of Vancouver, BC, pursuant to which Schmitt will acquire all of the outstanding shares of Xtero in exchange for shares of common stock of Schmitt. Upon...

    Articles 2007-10-05

  • Schmitt Industries Announces Annual Meeting Date

    PORTLAND, Ore. -- Schmitt Industries (NASDAQ: SMIT) announced today that its Annual Meeting of Shareholders of the Company will be Friday, October 5, 2007 at 3:00 p.m. local time, at the Company's headquarters at 2765 NW Nicolai St., Portland, Oregon. The shareholders will be asked...

    Articles 2007-07-24

  • Schmitt Reports Increased Net Sales and Income Before Income Taxes for Fiscal 2007

    PORTLAND, Ore. -- Schmitt Industries, Inc. (NASDAQ:SMIT) is pleased to announce fiscal year end results. Income before income taxes for the fiscal year ended May 31, 2007 increased to $1,994,825, compared to fiscal year 2006 of $1,783,672 on a sales increase of 3.3%. Total annual net sales...

    Articles 2007-07-18

  • Georgia Gulf Reports Q1 Financial Results

    * Loss of $0.77 per diluted share from continuing operations * Net loss of $1.01 per diluted share includes loss of $0.24 per share from discontinued operations * Non-recurring items were $0.10 of the $1.01 loss per share * Progress with...

    Articles 2007-05-15

  • Schmitt Industries Announces Increased Sales and Earnings

    PORTLAND, Ore. -- Schmitt Industries (NASDAQ:SMIT) completed the quarter ended February 28, 2007, with net income of $387,649 or $.14 per fully diluted share compared to net income of $197,776 or $.07 per fully diluted share for the same quarter in the prior fiscal year, a 96%...

    Articles 2007-03-30

  • Schmitt Provides Loan to Xtero Datacom, Inc. to Market Test New Measurement Technology

    PORTLAND, Ore. -- Schmitt Industries, Inc. (NASDAQ:SMIT) announces that it has entered into a convertible promissory note agreement with Xtero Datacom, Inc. of Vancouver, British Columbia pursuant to which Schmitt will loan up to $250,000 USD to Xtero to fund product development and testing of Xtero satellite...

    Articles 2007-02-16

  • Schmitt Industries Announces Increased Second Quarter Operating Income

    PORTLAND, Ore. -- Schmitt Industries, Inc. (NASDAQ:SMIT) completed the fiscal second quarter ended November 30, 2006 with income before provision for income taxes of $374,185, compared to income before provision for income taxes of $212,588 for the fiscal quarter ended November 30, 2005. Sales increased to $2,929,696 for the quarter...

    Articles 2007-01-05

  • Schmitt Recognized in Deloitte 2006 Pacific Northwest Fast 50

    PORTLAND, Ore. -- Schmitt Industries, Inc. (NASDAQ:SMIT) is pleased to announce that Schmitt has been named to Deloitte's 2006 Pacific Northwest Technology Fast 50, a ranking of the 50 fastest growing technology, media, telecommunications and life sciences companies in Washington, Oregon and Idaho by Deloitte & Touche...

    Articles 2006-10-19

  • Schmitt Industries Announces Increased First Quarter Revenues and Net Income

    PORTLAND, Ore. -- Schmitt Industries (NASDAQ: SMIT) completed the fiscal quarter ended August 31, 2006 with income before provision for income taxes of $505,592, a 28.4% increase compared to income before provision for income taxes of $393,897 for the fiscal quarter ended August 31, 2005. Net income for the first...

    Articles 2006-09-29

  • Schmitt Industries Announces Annual Meeting Date

    PORTLAND, Ore. -- Schmitt Industries (NASDAQ:SMIT) announced today that its Annual Meeting of Shareholders of the Company will be Friday, October 6, 2006 at 3:00 p.m. local time, at the Company's headquarters at 2765 NW Nicolai St., Portland, Oregon. The shareholders will be asked to...

    Articles 2006-08-18

  • Schmitt Industries Reports Increase in Operating Income

    PORTLAND, Ore. -- Schmitt Industries, Inc. (NASDAQ:SMIT) is pleased to announce that operating income for fiscal year ended May 31, 2006 increased to $1,733,596, compared to fiscal year 2005 of $1,216,460 on a sales increase of 9.2%. Total annual sales for fiscal year 2006 are $11,503,360 versus...

    Articles 2006-07-18

  • Zacks Top Simulator Player Interview features Eagle Broadband, Schmitt Industries, GeoGlobal Resources, OraLabs Holding Corp. and Neose Technologies

    CHICAGO -- Zacks.com introduces its Second Quarter Challenge top player interviews, which feature insights from the leaders of the Zacks Simulator game. The Simulator allows investors to prove their stock picking abilities by competing directly against other players for prizes worth thousands of the dollars. This week Zacks...

    Articles 2006-06-02

  • Begins Phase 1 Research On Schmitt Industries Inc.

    M2 PRESSWIRE-1 May 2006-www.streetinvesting.com: Begins Phase 1 Research On Schmitt Industries Inc.C1994-2006 M2 COMMUNICATIONS LTD RDATE:01052006 Streetinvesting.com will be monitoring any future progress exhibited by Schmitt Industries Inc. (NASDAQ:SMIT) after the company's share price jumped 16.98 last Tuesday. Streetinvesting.com strives...

    Articles 2006-05-01

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  • Incorporated: 1984
  • CEO: Mr. Wayne A. Case
  • Employees: 40

Schmitt Industries designs, manufactures and markets computer-controlled balancing equipment (the Balancer Segment) primarily to the machine tool industry. Through its wholly owned subsidiary, Schmitt Measurement Systems, Inc., Co. designs, manufactures and markets precision laser-based measurement products for the disk drive, silicon wafer and optics industries; laser-based dimensional sizing and distance measurement products for a variety of industrial applications; and ultrasonic measurement products that provide remote sensing and reporting via satellite the capacity and volumes of large chemical storage tanks, such as liquid propane tanks (the Measurement Segment).

Key Competitors

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Schmitt Industries Inc. Company Info

Board of Directors

Mr. Wayne A. Case

Chairman

Mr. Timothy D.J. Hennessy

Mr. Michael J. Ellsworth

Mr. Maynard E. Brown

Mr. David M. Hudson

Contact Information

2765 N.W. Nicolai Street

Portland, OR

http://www.schmitt-ind.com

503 227-7908

NAICS Code

Instruments and Related Products Manufacturing for Measuring, Displaying, and Controlling Industrial Process Variables: 334513
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