Schmitt Industries, Inc. (SMIT) financial statements (2021 and earlier)

Company profile

Business Address 2765 NW NICOLAI ST
PORTLAND, OR 97210
State of Incorp. OR
Fiscal Year End May 31
SIC 3823 - Industrial Instruments for Measurement, Display, and Control of Process Variables; and Related Products (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in thousands)

11/30/2020
TTM
5/31/2020
5/31/2019
5/31/2018
5/31/2017
5/31/2016
5/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments6,77110,1471,4122,0538689891,796
Cash and cash equivalents6,77110,1471,4122,0538689891,796
Restricted cash and investments5664205658   
Receivables7955751,9962,0472,3522,1082,661
Inventory, net of allowances, customer advances and progress billings1,7521,0595,0195,7114,2054,7284,558
Inventory1,7521,0595,0195,7114,2054,7284,558
Prepaid expense10861151149116132154
Other undisclosed current assets33      
Total current assets:10,02512,2618,63410,0187,5407,9569,169
Noncurrent Assets
Property, plant and equipment 6528397718659651,111
Intangible assets, net (including goodwill)1,347288392497601713824
Intangible assets, net (excluding goodwill)1,347288392497601713824
Other noncurrent assets273      
Other undisclosed noncurrent assets13,531      
Total noncurrent assets:15,1519401,2321,2681,4671,6781,935
TOTAL ASSETS:25,17613,2019,86511,2869,0069,63511,104
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities1,6426671,1551,7702,0291,6311,615
Accounts payable7722684961,0241,101877834
Accrued liabilities619265418554568605640
Employee-related liabilities25186239189360149141
Taxes payable 4704   
Deferred revenue6212
Debt  21    
Contract with customer, liability188
Other undisclosed current liabilities1,323629     
Total current liabilities:3,0261,3081,3641,7702,0291,6311,615
Noncurrent Liabilities
Long-term debt and lease obligation1,791 29    
Long-term debt, excluding current maturities1,791 29    
Other undisclosed noncurrent liabilities10,665      
Total noncurrent liabilities:12,456 29    
Total liabilities:15,4821,3081,3921,7702,0291,6311,615
Stockholders' equity
Stockholders' equity attributable to parent9,69411,8938,4739,5166,9778,0049,489
Common stock12,27412,25713,24513,08610,64910,57010,511
Accumulated other comprehensive loss  (528)(536)(428)(395)(367)
Accumulated deficit(2,580)(364)(4,245)(3,034)(3,244)(2,171)(656)
Total stockholders' equity:9,69411,8938,4739,5166,9778,0049,489
TOTAL LIABILITIES AND EQUITY:25,17613,2019,86511,2869,0069,63511,104

Income statement (P&L) ($ in thousands)

11/30/2020
TTM
5/31/2020
5/31/2019
5/31/2018
5/31/2017
5/31/2016
5/31/2015
Revenues5,5994,19013,81013,88812,39811,68513,069
Revenue, net 12,39811,68513,069
Cost of revenue(2,946)(2,239)(8,837)(7,823)(7,512)(6,818)(6,928)
Gross profit:2,6531,9514,9736,0654,8864,8676,141
Operating expenses(7,686)(4,130)(6,081)(5,910)(5,874)(6,304)(6,205)
Operating income (loss):(5,033)(2,180)(1,108)155(989)(1,436)(64)
Nonoperating income (expense)
(Other Nonoperating Income (Expense))
274323(77)81(57)(59)(19)
Income (loss) from continuing operations before equity method investments, income taxes:(4,759)(1,857)(1,185)237(1,045)(1,495)(84)
Other undisclosed income from continuing operations before income taxes1,190      
Income (loss) from continuing operations before income taxes:(3,570)(1,857)(1,185)237(1,045)(1,495)(84)
Income tax expense(8) (26)(26)(28)(20)(10)
Income (loss) from continuing operations:(3,578)(1,857)(1,211)211(1,073)(1,515)(94)
Income from discontinued operations5,1915,723     
Income (loss) before gain (loss) on sale of properties:1,6133,866(1,211)211(1,073)(1,515)(94)
Other undisclosed net loss(5,163)      
Net income (loss):(3,550)3,866(1,211)211(1,073)(1,515)(94)
Other undisclosed net income attributable to parent52715     
Net income (loss) attributable to parent:(3,023)3,881(1,211)211(1,073)(1,515)(94)
Other undisclosed net loss available to common stockholders, basic(5,723)(5,723)     
Net income (loss) available to common stockholders, diluted:(8,746)(1,842)(1,211)211(1,073)(1,515)(94)

Comprehensive Income ($ in thousands)

11/30/2020
TTM
5/31/2020
5/31/2019
5/31/2018
5/31/2017
5/31/2016
5/31/2015
Net income (loss):(3,550)3,866(1,211)211(1,073)(1,515)(94)
Other comprehensive income (loss) 5288(109)(33)(28)(104)
Comprehensive income (loss):(3,550)4,394(1,203)102(1,106)(1,543)(197)
Other undisclosed comprehensive loss, net of tax, attributable to parent(1)(513)     
Comprehensive income (loss), net of tax, attributable to parent:(3,551)3,881(1,203)102(1,106)(1,543)(197)

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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