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 investments | 6,771 | 10,147 | 1,412 | 2,053 | 868 | 989 | 1,796 | ||
| Cash and cash equivalents | 6,771 | 10,147 | 1,412 | 2,053 | 868 | 989 | 1,796 | ||
| Restricted cash and investments | 566 | 420 | 56 | 58 | |||||
| Receivables | 795 | 575 | 1,996 | 2,047 | 2,352 | 2,108 | 2,661 | ||
| Inventory, net of allowances, customer advances and progress billings | 1,752 | 1,059 | 5,019 | 5,711 | 4,205 | 4,728 | 4,558 | ||
| Inventory | 1,752 | 1,059 | 5,019 | 5,711 | 4,205 | 4,728 | 4,558 | ||
| Prepaid expense | 108 | 61 | 151 | 149 | 116 | 132 | 154 | ||
| Other undisclosed current assets | 33 | ||||||||
| Total current assets: | 10,025 | 12,261 | 8,634 | 10,018 | 7,540 | 7,956 | 9,169 | ||
| Noncurrent Assets | |||||||||
| Property, plant and equipment | 652 | 839 | 771 | 865 | 965 | 1,111 | |||
| Intangible assets, net (including goodwill) | 1,347 | 288 | 392 | 497 | 601 | 713 | 824 | ||
| Intangible assets, net (excluding goodwill) | 1,347 | 288 | 392 | 497 | 601 | 713 | 824 | ||
| Other noncurrent assets | 273 | ||||||||
| Other undisclosed noncurrent assets | 13,531 | ||||||||
| Total noncurrent assets: | 15,151 | 940 | 1,232 | 1,268 | 1,467 | 1,678 | 1,935 | ||
| TOTAL ASSETS: | 25,176 | 13,201 | 9,865 | 11,286 | 9,006 | 9,635 | 11,104 | ||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 1,642 | 667 | 1,155 | 1,770 | 2,029 | 1,631 | 1,615 | ||
| Accounts payable | 772 | 268 | 496 | 1,024 | 1,101 | 877 | 834 | ||
| Accrued liabilities | 619 | 265 | 418 | 554 | 568 | 605 | 640 | ||
| Employee-related liabilities | 251 | 86 | 239 | 189 | 360 | 149 | 141 | ||
| Taxes payable | 47 | 0 | 4 | ||||||
| Deferred revenue | 62 | 12 | ✕ | ✕ | ✕ | ✕ | ✕ | ||
| Debt | 21 | ||||||||
| Contract with customer, liability | ✕ | ✕ | 188 | ✕ | ✕ | ✕ | ✕ | ||
| Other undisclosed current liabilities | 1,323 | 629 | |||||||
| Total current liabilities: | 3,026 | 1,308 | 1,364 | 1,770 | 2,029 | 1,631 | 1,615 | ||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 1,791 | 29 | |||||||
| Long-term debt, excluding current maturities | 1,791 | 29 | |||||||
| Other undisclosed noncurrent liabilities | 10,665 | ||||||||
| Total noncurrent liabilities: | 12,456 | 29 | |||||||
| Total liabilities: | 15,482 | 1,308 | 1,392 | 1,770 | 2,029 | 1,631 | 1,615 | ||
| Stockholders' equity | |||||||||
| Stockholders' equity attributable to parent | 9,694 | 11,893 | 8,473 | 9,516 | 6,977 | 8,004 | 9,489 | ||
| Common stock | 12,274 | 12,257 | 13,245 | 13,086 | 10,649 | 10,570 | 10,511 | ||
| 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: | 9,694 | 11,893 | 8,473 | 9,516 | 6,977 | 8,004 | 9,489 | ||
| TOTAL LIABILITIES AND EQUITY: | 25,176 | 13,201 | 9,865 | 11,286 | 9,006 | 9,635 | 11,104 | ||
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 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 5,599 | 4,190 | 13,810 | 13,888 | 12,398 | 11,685 | 13,069 | |
| Revenue, net | ✕ | ✕ | ✕ | 12,398 | 11,685 | 13,069 | ||
| Cost of revenue | (2,946) | (2,239) | (8,837) | (7,823) | (7,512) | (6,818) | (6,928) | |
| Gross profit: | 2,653 | 1,951 | 4,973 | 6,065 | 4,886 | 4,867 | 6,141 | |
| 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)) | 274 | 323 | (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 taxes | 1,190 | |||||||
| 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 operations | 5,191 | 5,723 | ||||||
| Income (loss) before gain (loss) on sale of properties: | 1,613 | 3,866 | (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 parent | 527 | 15 | ||||||
| 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) | 528 | 8 | (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.