Technology › Industrial Instruments For Measurement, Display, And Control
SMIT Stock Price Correlated With Schmitt Industries Financials
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Income Statement
Cash Flow
Balance Sheet
SMIT Income Statement
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SMIT Cash Flow
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SMIT Balance Sheet
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COMPANY PROFILE
NOTE 1 – ORGANIZATION AND BUSINESS OPERATIONS
Schmitt Industries, Inc. (the "Company",
"Schmitt", "we" or "our") operates a diversified business providing highly precise test and measurement
products, as well as providing quality consumer products through the Company’s ice cream manufacturing and retail business. Through
its wholly owned subsidiary, Schmitt Measurement Systems, Inc. (the “Measurement Segment”), the Company manufactures and sells
products in two core product lines, Acuity Lasers and Xact Tank Monitoring.
·
Acuity™ was acquired
in June of 2000 and manufactures and markets dimensional and distance measurement lasers. These laser products utilize both
triangulation and time-of-flight measurement principles and are known for their speed and accuracy. The Acuity products are used in
a wide variet y of industrial, commercial and research applications.
·
Xact™ was acquired
in February of 2008 and offers ultrasonic measurement technology for the remote monitoring of the fill levels of propane and other
liquid tanks. Together with the Xact gauge reader, the satellite-focused Xact systems can detect and communicate fill levels, along
with other information such as tank size and configuration, to customers through the “Internet of Things”
(“IoT”) ecosystem using the Company’s satellite provider and a secure website. Typical users of Xact systems are
bulk propane, diesel, jet fuel suppliers and ammonia users and distributors. As of May 31, 2022, the Xact product line is classified as held-for-sale and considered discontinued operations of
the Company. See further discussion in Note 4 – Assets held for sale and operations classified as discontinued operations.
Through its wholly owned subsidiary, Ample Hills
Acquisition LLC, and its subsidiaries (collectively, “Ample Hills” or “Ice Cream Segment”), the Company manufactures,
wholesales and retails ice cream and related products through a network of retail locations located in New York, New Jersey and California.
Unless otherwise noted, discussion in these Notes to Consolidated Financial Statements refers to our continuing operations. Refer to Note
4, Assets held for sale and operations classified as discontinued operations, for additional information regarding the discontinued operations.
Schmitt Industries, Inc. (the "Company",
"Schmitt", "we" or "our") operates a diversified business providing highly precise test and measurement
products, as well as providing quality consumer products through the Company’s ice cream manufacturing and retail business. Through
its wholly owned subsidiary, Schmitt Measurement Systems, Inc. (the “Measurement Segment”), the Company manufactures and sells
products in two core product lines, Acuity Lasers and Xact Tank Monitoring.
·
Acuity™ was acquired
in June of 2000 and manufactures and markets dimensional and distance measurement lasers. These laser products utilize both
triangulation and time-of-flight measurement principles and are known for their speed and accuracy. The Acuity products are used in
a wide variet y of industrial, commercial and research applications.
·
Xact™ was acquired
in February of 2008 and offers ultrasonic measurement technology for the remote monitoring of the fill levels of propane and other
liquid tanks. Together with the Xact gauge reader, the satellite-focused Xact systems can detect and communicate fill levels, along
with other information such as tank size and configuration, to customers through the “Internet of Things”
(“IoT”) ecosystem using the Company’s satellite provider and a secure website. Typical users of Xact systems are
bulk propane, diesel, jet fuel suppliers and ammonia users and distributors. As of May 31, 2022, the Xact product line is classified as held-for-sale and considered discontinued operations of
the Company. See further discussion in Note 4 – Assets held for sale and operations classified as discontinued operations.
Through its wholly owned subsidiary, Ample Hills
Acquisition LLC, and its subsidiaries (collectively, “Ample Hills” or “Ice Cream Segment”), the Company manufactures,
wholesales and retails ice cream and related products through a network of retail locations located in New York, New Jersey and California.
Unless otherwise noted, discussion in these Notes to Consolidated Financial Statements refers to our continuing operations. Refer to Note
4, Assets held for sale and operations classified as discontinued operations, for additional information regarding the discontinued operations.
Free historical financial statements for Schmitt Industries Inc. See how revenue, income, cash flow, and balance sheet financials have changed over 44 quarters since 2011. Compare with SMIT stock chart to see long term trends.
Data imported from Schmitt Industries Inc SEC filings. Check original filings before making any investment decision.