Schmitt Industries, Inc. (SMIT) financial statements (2020 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)

11/30/2019
TTM
5/31/2019
5/31/2018
5/31/2017
5/31/2016
5/31/2015
5/31/2014
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments12,1051,4122,0538689891,7961,511
Cash and cash equivalents12,1051,4122,0538689891,7961,511
Restricted cash and investments4205658    
Receivables3951,9962,0472,3522,1082,6612,235
Inventory, net of allowances, customer advances and progress billings1,0785,0195,7114,2054,7284,5584,790
Inventory1,0785,0195,7114,2054,7284,5584,790
Prepaid expense48151149116132154152
Income taxes receivable1
Total current assets:14,0468,63410,0187,5407,9569,1698,689
Noncurrent Assets
Property, plant and equipment6578397718659651,1111,192
Intangible assets, net (including goodwill)340392497601713824944
Intangible assets, net (excluding goodwill)340392497601713824944
Total noncurrent assets:9971,2321,2681,4671,6781,9352,135
TOTAL ASSETS:15,0439,86511,2869,0069,63511,10410,824
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities1,0591,1551,7702,0291,6311,615512
Accounts payable2264961,0241,101877834512
Accrued liabilities741418554568605640 
Employee-related liabilities22239189360149141 
Taxes payable6904   0
Deferred revenue103
Debt 21     
Contract with customer, liability188
Other undisclosed current liabilities      699
Total current liabilities:1,1621,3641,7702,0291,6311,6151,211
Noncurrent Liabilities
Long-term debt and lease obligation 29     
Long-term debt, excluding current maturities 29     
Total noncurrent liabilities: 29     
Total liabilities:1,1621,3921,7702,0291,6311,6151,211
Stockholders' equity
Stockholders' equity attributable to parent13,8818,4739,5166,9778,0049,4899,613
Common stock13,43813,24513,08610,64910,57010,51110,439
Accumulated other comprehensive loss (528)(536)(428)(395)(367)(263)
Retained earnings (accumulated deficit)443(4,245)(3,034)(3,244)(2,171)(656)(562)
Total stockholders' equity:13,8818,4739,5166,9778,0049,4899,613
TOTAL LIABILITIES AND EQUITY:15,0439,86511,2869,0069,63511,10410,824

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

11/30/2019
TTM
5/31/2019
5/31/2018
5/31/2017
5/31/2016
5/31/2015
5/31/2014
Revenues11,24113,81013,88812,39811,68513,06912,135
Revenue, net 12,39811,68513,06912,135
Cost of revenue(7,021)(8,837)(7,823)(7,512)(6,818)(6,928)(6,508)
Gross profit:4,2204,9736,0654,8864,8676,1415,626
Operating expenses(5,330)(6,081)(5,910)(5,874)(6,304)(6,205)(6,139)
Operating income (loss):(1,109)(1,108)155(989)(1,436)(64)(512)
Nonoperating income (expense)
(Other Nonoperating Income (Expense))
(39)(77)81(57)(59)(19)(18)
Income (loss) from continuing operations before income taxes:(1,148)(1,185)237(1,045)(1,495)(84)(530)
Income tax expense(25)(26)(26)(28)(20)(10)(9)
Net income (loss):(1,173)(1,211)211(1,073)(1,515)(94)(540)
Other undisclosed net income attributable to parent5,117      
Net income (loss) available to common stockholders, diluted:3,944(1,211)211(1,073)(1,515)(94)(540)

Comprehensive Income ($ in thousands)

11/30/2019
TTM
5/31/2019
5/31/2018
5/31/2017
5/31/2016
5/31/2015
5/31/2014
Net income (loss):(1,173)(1,211)211(1,073)(1,515)(94)(540)
Other comprehensive income (loss)428(109)(33)(28)(104)69
Comprehensive income (loss):(1,131)(1,203)102(1,106)(1,543)(197)(471)
Other undisclosed comprehensive income, net of tax, attributable to parent5,598      
Comprehensive income (loss), net of tax, attributable to parent:4,467(1,203)102(1,106)(1,543)(197)(471)

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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