Revenue Update on Schmitt Industries(NASDAQ:SMIT)

Schmitt Industries(NASDAQ:SMIT) announced the earnings results for Fiscal Year 2017 and Q1. The results came in during After-hours on Oct 7, 2016. Earnings per share were $-0.04.

Schmitt Industries (SMIT) shares turned negative on Fridays trading session with the shares closing down -0.0007 points or -0.05% at a volume of 47,613. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $1.5495. The peak price level was also seen at $1.5495 while the days lowest was $1.48. Finally the shares closed at $1.5193. The 52-week high of the shares is $4.49 while the 52-week low is $1.37. According to the latest information available, the market cap of the company is $4.6 M.

Schmitt Industries Inc. designs manufactures and sells test and measurement products. The Company operates under two business segments: the Balancer segment and the Measurement segment. The Company through the Balancer segment is engaged in the design and assembly of dynamic balancing systems and components for the machine tool industry. Through its Measurement segment the Company is engaged in the design and assembly of laser-based test and measurement systems. It designs manufactures and sells computer-controlled vibration detection balancing and process control systems for the machine tool industry. Through its wholly owned subsidiary Schmitt Measurement Systems Inc. it designs manufactures and sells laser and white light sensors laser-based micro roughness measurement products laser-based surface analysis and measurement products and ultrasonic measurement products. It also provides sales and service for Europe and Asia through its subsidiary Schmitt Europe Limited.

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