Revenue Update on Schmitt Industries(NASDAQ:SMIT)

Schmitt Industries(NASDAQ:SMIT) announced the earnings results for Fiscal Year 2016 and Q3. The results came in during After-hours on Apr 12, 2016. Earnings per share were $-0.15.

Schmitt Industries (SMIT) made into the market gainers list on Fridays trading session with the shares advancing 4.63% or 0.103 points. Due to strong positive momentum, the stock ended at $2.33, which is also near the day’s high of $2.33. The stock began the session at $2.09 and the volume stood at 2,509 shares. The 52-week high of the shares is $3.1621 and the 52 week low is $1.92. The company has a current market capitalization of $7 M and it has 29,95,910 shares in outstanding.

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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