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Technology Stocks : SMIT (Schmitt Inds)likely to post 400% earnings gain YoY
SMIT 0.01810.0%Feb 6 9:30 AM EST

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To: jackson who wrote (243)7/31/1999 5:25:00 PM
From: stoplossboy   of 276
 
Looks like SMIT has hit bottom and has started a slow climb back up. They have new technology and the orders for 1Q '2000 have exceeded all orders for FY 1999. Insiders are beginning to accumulate stock slowly. Here is some more info.....Any comments?



Wednesday June 30, 6:07 pm Eastern Time
Company Press Release
Disk Market Accepts New Schmitt Technology
PORTLAND, Ore.--(BUSINESS WIRE)--June 30, 1999--Schmitt Industries, Inc. (Nasdaq:SMIT - news) is pleased to announce that Seagate Technology has entered multiple orders for Schmitt's new TMS-2000RC measurement machines.

Several units have already been shipped, and additional orders are anticipated in the future from Seagate and other hard disk media manufacturers. Schmitt worked closely with Seagate over the last six months to further enhance its laser light scatter measurement technology. The TMS-2000RC can now measure disk surface roughness less than one Angstrom (one angstrom is four billionths of an inch) as well as determine the microroughness of the surface in both the radial and circumferential direction simultaneously. This advanced TMS-2000RC machine should become the instrument of choice for disk manufacturers moving towards the ultra-smooth disk drive media required for the future. Ultra-smooth disks allow drive manufacturers to greatly increase storage capacity of the hard drive assembly.

Future media for the disk drive industry will be less than 1 A (Angstrom) in overall microroughness with a component of 0.6 A circumferentially and over 1 A in a radial direction. Schmitt management believes its TMS-2000RC is the only equipment available to the market which can provide these measurements in a production environment. Schmitt management intends to add this new measurement technology to its DTM-2000 automated measurement equipment in the next 90 days.

The foregoing information contains certain forward-looking statements that anticipate future trends or events. These statements are based on certain assumptions that may prove to be erroneous and are subject to certain risks including but not limited to the uncertainties of the Company's new product introductions, the risks of increased competition and technological change in the Company's industry and other risks detailed in the Company's Securities and Exchange Commission filings. Accordingly, actual results may differ, possibly materially, from the predictions contained herein.
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