Schmitt Industries (SMIT) Issues Earnings Results
Schmitt Industries (NASDAQ:SMIT) announced its quarterly earnings results on Wednesday. The scientific and technical instruments company reported $0.03 EPS for the quarter, Bloomberg Earnings reports. The firm had revenue of $3.77 million during the quarter. Schmitt Industries had a negative net margin of 8.59% and a negative return on equity of 15.15%.
Schmitt Industries (NASDAQ SMIT) traded up $0.46 during midday trading on Thursday, hitting $2.91. 9,867,629 shares of the stock were exchanged, compared to its average volume of 85,172. Schmitt Industries has a one year low of $1.48 and a one year high of $4.47.
SMIT has been the subject of a number of recent analyst reports. ValuEngine cut shares of Schmitt Industries from a “buy” rating to a “hold” rating in a research note on Thursday, September 28th. TheStreet upgraded shares of Schmitt Industries from a “d+” rating to a “c-” rating in a research note on Monday.
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Schmitt Industries, Inc designs, manufactures and sells test and measurement products for two main business segments: the Balancer segment and the Measurement segment. The Company operates through two segments: the design and assembly of dynamic balancing systems and components for the machine tool industry (Balancer), and the design and assembly of laser-based test and measurement systems (Measurement).
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