| To: Stephen J. Schmidt who wrote (229) | 6/6/1998 4:27:00 PM | | From: Stephen J. Schmidt | | | |
LOOK HERE !!
Schmitt Announces Second-Quarter Sales and Earnings
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PORTLAND, ORE. (Jan. 5) BUSINESS WIRE -Jan. 5, 1998--Schmitt
Industries' (NASDAQ:SMIT) operations improved during the second quarter
of fiscal-year 1998, ended Nov. 30, 1997, as evidenced by increases in
sales and profit levels.
Sales for the second quarter were from the SBS Balancer and SMS
Measurement products and set a new record of $3,220,475 for the
quarter, an 18 percent increase over the same period last year. Net
income for the second quarter increased 15 percent totaling $695,449
vs. $607,344 for the same period last year. These record results were
achieved despite minor operating losses in Europe.
Sales for the six-month period were from both SBS Balancer products and
SMS Measurement products and totaled $5,887,416 for the period, a 30
percent increase over the same period last year. Gross profits
increased 19 percent over last year with net earnings up 40 percent for
the six-month period.
Net earnings per share for the six-month period increased 40 percent to
$0.14 vs. $0.10 in fiscal-year 1997.
SIX-MONTH RESULTS -- FY 1997 VS. FY 1998
(Period Ending 11/30/96 and 11/30/97)
SALES GROSS PROFIT NET PROFIT AFTER TAX
FY-97 FY-98 FY-97 FY-98 FY-97 FY-98
$4,532,012 $5,887,416 $2,795,234 $3,338,226 $747,620 $1,050,000
Quarterly 1998 net earnings per share increased to $.09 vs. $.08 in
fiscal-year 1997 due to the increased sales levels of all products for
the quarter.
Sales for the second-quarter FY-98 set a new record of $3,220,475 vs.
$2,738,314 for the same second-quarter period last year. Gross profits
for the second quarter FY-98 were $1,833,637 vs. $1,725,676 for FY-97.
During the second quarter the company successfully introduced its new
DTM-2000 laser texture measurement machine. This product verifies
microroughness at the rate of 1200 computer disks per hour. This
throughput allows the industry to move towards 100 percent inspection.
To the company's knowledge, there is no competitive product offered
similar to the DTM-2000. The company expects to aggressively market
the DTM-2000 in 1998 and beyond.
The company is currently analyzing the impact of the economic turmoil
in Asia, which may or may not decrease product sales. The company
expects minimal impact on its balancing product lines, and impact on
its measurement product lines is unknown at this time.
Schmitt Measurement products are currently being marketed by Veeco
Instruments of Santa Barbara, Calif. This marketing/distribution
arrangement allows Schmitt to concentrate on new product development
and still have its products sold worldwide with an established
metrology sales and service organization. Schmitt expects fiscal 1998
and 1999 will result in added market penetration for its measurement
products, utilizing Veeco's distribution channels.
The information contained in this release includes "forward-looking
statements" within the meaning of Section 27A of the Securities Act of
1933 and Section 21E of the Exchange Act of 1934, and is subject to the
safe harbor created by those sections. The company cautions investors
that any forward-looking statements made by the company are not
guarantees of future performance; actual results may differ materially
from those projected in the forward-looking statements as a result of
various factors including, but not limited to, those set forth in the
company's 8-K filed with the Securities and Exchange Commission on June
6, 1996.
2ND-QUARTER RESULTS -- FY 1997 VS. FY 1998
(Period Ending 11/30/96 and 11/30/97)
SALES GROSS PROFIT NET PROFIT AFTER TAX
FY-97 FY-98 FY-97 FY-98 FY-97 FY-98
$2,738,314 $3,220,475 $1,725,676 $1,833,637 $607,344 $695,449
-0- KS/se*
CONTACT: Schmitt Industries
Linda M. Case, 503/227-7908
KEYWORD: OREGON
INDUSTRY KEYWORD: COMED COMPUTERS/ELECTRONICS EARNINGS Today's News On
The Net - Business Wire's full file on the Internet
with Hyperlinks to your home page.
URL: businesswire.com
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| To: Stephen J. Schmidt who wrote (232) | 6/16/1998 9:17:00 PM | | From: Stephen J. Schmidt | | | |
6/16/98 - Schmitt Industries, Inc. Announces Successful Testing of SB-4500 Dynamic Balancer Controller
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PORTLAND, ORE. (June 16) BUSINESS WIRE -June 16, 1998--Schmitt Industries, Inc. (NASDAQ:SMIT) is pleased to announce the successful testing of its new SB-4500 Dynamic Balancer Controller.
This advanced, high-speed controller is a technological breakthrough that allows faster balancing at lower balancer levels and also has multiple task controlling capabilities.
Wayne A. Case, President and CEO of Schmitt commented: "The new SB-4500 series Balancer Controller will allow us to expand our balancer markets in existing high speed (20,000 RPM plus) markets while still supporting the lower speed market with the same controller unit. This new technology measures and controls vibration to .004 millionths of an inch. This is a ten-fold improvement for our current balancer technology, and Schmitt believes it is the best in the industry. The SB-4500 allows multiple tasking of multiple balancers and/or a balancer plus controlling other functions which gives us the opportunity to broaden our industrial machine tool product lines and markets."
Schmitt is also developing advanced non-contact dimensional and surface profile measurement gauging for the roll grinder industry, which will be market ready by the fourth quarter of 1998.
Schmitt expects these products to increase sales throughout 1998 and 1999.
The information contained in this release includes "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933 and Section 21E of the Exchange Act of 1934, and is subject to the safe harbor created by those sections. The Company cautions investors that any forward-looking statements made by the Company are not guarantees of future performance; actual results may differ materially from those projected in the forward-looking statements as a result of various factors including, but not limited to, those set forth in the Company's Form 8-K filed with the Securities and Exchange Commission on June 6, 1996.
-0- kjs/ix*
CONTACT: Schmitt Industries
Linda M. Case, 503/227-7908
KEYWORD: OREGON
INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS COMED PRODUCT Today's News On The Net - Business Wire's full file on the Internet
with Hyperlinks to your home page.
URL: businesswire.com
|
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| To: Stephen J. Schmidt who wrote (233) | 7/10/1998 2:00:00 PM | | From: Stephen J. Schmidt | | | |
SAN BRUNO, CALIF. (July 10) BUSINESS WIRE -July 10, 1998--M&A West,
Inc., a San Francisco-based financial public relations and investment
banking firm, announced today the addition of fifty-five small/micro
cap companies to the bulletin board on one of its web sites,
www.microcapchat.com .
The additions are small and micro cap companies who trade on the NASDAQ
and the OTC Bulletin Board. The new companies include: 1st Miracle
Group (OTCBB:MVEE), American Bio Medica Corporation (NASDAQ:ABMC),
Applied Voice Recognition, (OTCBB:AVRI), C-Phone Corporation
(NASDAQ:CFON), Cell Robotics International, Inc. (OTCBB:CRII), CFI
Mortgage (NASDAQ:CFIM), Comtex Scientific Corporation, (OTCBB:CMTX),
Consolidation Capital North America, (OTCBB:CDNO), Coordinate
Healthcare (OTCBB:CHCK), Datalink Systems Corp. (OTCBB:DASY), DCGR
International Holding (OTCBB:DCGR), DELGlobal Technologies
(NASDAQ:DGTC), Energy Drilling (OTCBB:EDII), Environmental Remediation
Holding Corp. (OTCBB:ERHC), EuroTelecom Communications (OTCBB:EUTC),
Firamada, Inc. (OTCBB:FAMH), Frederick Brewing Co. (NASDAQ:BLUE),
Global Games (OTCBB:GLOW), Interjet Net Corporation (OTCB:IJNT), JAMR
Technologies (NASDAQ:JAMR), Jaws Technologies (OTCBB:JAWZ), La-Man
Corporation (NASDAQ:LAMN), Mamatech Corp. (OTCBB:MAMH), Media
Entertainment (OTCBB:MEME), MFRI, Inc. (NASDAQ:MFRI),
Micros-to-Mainframes (NASDAQ:MTMC), Mity Lite, Inc. (NASDAQ:MITY),
MobileVest, Inc. (OTCBB:MOBV), NAM Corporation (NASDAQ:NAMC), Noise
Cancellation Technologies, Inc. (NASDAQ:NCTI), Norman Gaming &
Entertainment (OTCBB:NRAG), Osage Systems Group, Inc. (OTCBB:OSGE),
PANACO, Inc. (NASDAQ:PANA), Phoenix Media (OTCBB:PXMG), Planet City
Corp. (OTCBB:PINC), Proformix Systems, Inc. (OTCBB:PRFX), Say Yes
Foods, Inc., (OTCBB:SYES), SBS Technologies, Inc. (NASDAQ:SBSE) Schmitt
Industries (NASDAQ:SMIT), Silver Star International (OTCBB:SVSR),
SmarTire Systems, Inc. (OTCBB:SMTR), Tel-Instruments Electronic Corp.
(OTCBB:TINE), Telcom Wireless (NASDAQ:TCTV), Tengasco, Inc.
(OTCBB:TNGO), Texas Micro, Inc. (OTCBB:TEXM), The General Store
(OTCBB:GSIC), The Quantam Group (OTCBB:QTMG), The Tirex Corporation
(OTCBB:TXMC), Thermo Tech Technologies, Inc. (NASDAQ:TTRIF), Vari-L
Company, Inc. (NASDAQ:VARL), Wiltek (OTCBB:WLTK), Wolf Industries, Inc.
(OTCBB:WLFN), XXSYS Technologies (NASDAQ:XSYS)
Scott Kelly, President of M&A West stated, "These companies were
requested by our members and we are reviewing them for the inclusion of
a company profile, compiled by our own research team. We hope to
arrange for the management, analysts and traders of these stocks to
post on the board in the future."
Among the profiles presently on site are Players Network (OTCBB:PNTV),
Casino Journal Publishing Group (OTCBB:CJPG), Mortgage Bankers Holding
Corporation (OTCBB:MBHC), Chadmoore Wireless Group (OTCBB:MOOR), and
ComTech Consolidation Group, Inc (OTCBB:CCGI).
M&A West, Inc, in addition to its homepage, www.mawest.com , manages and
owns www.microcapchat.com , www.financialnewsstand.com, and
www.financialbookstore.com . Future sites, currently under construction,
include a list of America's leading venture capital firms at
www.venturelist.com and a stock research site at
www.microcapquotes.com .
-0- DB/sf* ms/sf
CONTACT: M&A West, Inc
Aaron C. Lang, 650/588-2678
www.mawest.com
KEYWORD: CALIFORNIA
INDUSTRY KEYWORD: BANKING COMPUTERS/ELECTRONICS COMED
INTERACTIVE/MULTIMEDIA/INTERNET Today's News On The Net - Business
Wire's full file on the Internet
with Hyperlinks to your home page.
URL: businesswire.com |
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| To: jackson who wrote (235) | 7/18/1998 10:52:00 AM | | From: David Wiz | | | |
Jack,
Mutt is more like it (a mixed breed of measurement and balancing equipment). I think it's still going to be a few quarters before we see much good news coming out.
It's become such a small part of my portfolio that I don't even bother much with it anymore. I'll probably hold on at least until the end of the year and then sell if I need to offset some cap gains.
David |
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| To: David Wiz who wrote (226) | 7/19/1998 11:37:00 PM | | From: Karl Drobnic | | | | |
The sale was to HMT for 7 DMT-2000 devices at $165,000 each. HMT
makes disk drives for Seagate. When hardware makers rally again,
the DMT-2000 or its improved versions should become standard
equipment for disk drive makers. The DMT-2000 has 100% accuracy
at 1200 disks per hour. Disk drive makers can't afford to ship
faulty product, and they have to deliver fast. So you've got to
deliver quality at the standard SMIT has set, or be left behind. |
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| To: Karl Drobnic who wrote (237) | 7/21/1998 1:18:00 PM | | From: David Wiz | | | |
Karl,
7 DMT-2000's at $165,000 is $1.16 million. Their sales for the quarter were only $2.37 million. Don't you at think this would merit a mention in the earnings report, even if they didn't name the buyer?
David |
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