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Technology Stocks : SMIT (Schmitt Inds)likely to post 400% earnings gain YoY -- Ignore unavailable to you. Want to Upgrade?

To: Stephen J. Schmidt who wrote (232)	6/16/1998 9:17:00 PM
From: Stephen J. Schmidt	Read Replies (1) \| Respond to of 276

6/16/98 - Schmitt Industries, Inc. Announces Successful Testing of SB-4500 Dynamic Balancer Controller -------------------------------------------------------------------------------- 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