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SMIT - Schmitt Industries

post #1 of 130
Thread Starter 
SMIT is out with earnings soon and the stock has been trending strongly higher lately, just wanted to put this one on alert. I am in here at $9.15

Very small float (1.98m) so it is volatile.


post #2 of 130
Thread Starter 
Previous (April) earnings report:



Schmitt Industries Announces Increased Sales and Earnings
Friday March 30, 1:00 pm ET
PORTLAND, Ore.--(BUSINESS WIRE)--Schmitt Industries (NASDAQ:SMIT - News) completed the quarter ended February 28, 2007, with net income of $387,649 or $.14 per fully diluted share compared to net income of $197,776 or $.07 per fully diluted share for the same quarter in the prior fiscal year, a 96% increase. Income before provision for income taxes for the quarter ended February 28, 2007, was $644,649 compared to $262,276 for the fiscal quarter ended February 28, 2006. The Company's provision for income taxes for the quarter ended February 28, 2007, increased to $257,000 from $64,500 for the same period in fiscal 2006.

Sales increased to $2,970,877 for the quarter ended February 28, 2007, compared to $2,707,123 in the same period last year, a 9.7% increase. Gross profits for the quarter ended February 28, 2007, were $1,720,712 versus $1,413,647 in the same period last year, a 21.7% increase. Gross profits, as a percentage of sales, for this fiscal quarter were 57.9% compared to 52.2% in the same quarter in the prior fiscal year as the sales increase was due to sales of higher margin Measurement segment products. Operating expenses were $1,120,435 during the quarter ended February 28, 2007, a slight decrease from $1,172,835 for the same quarter in the prior fiscal year.
Wayne Case, President and CEO of Schmitt Industries, said, "We are pleased to see the growth in both sales levels and profits. The 44% growth in our Measurement sales for the quarter is especially impressive. The higher Measurement segment sales are attributed predominately to new surface measurement customers in Japan and Asia and increasing sales in North America of dimensional sizing products which grew 7% in the fiscal quarter ended February 28, 2007, compared to the quarter ended February 28, 2006. We did, however, experience a (11.4%) sales decline in the North American SBS Balancer segment during the quarter. General economic data indicates a slowing in the growth of business capital spending on orders and shipments of equipment other than high-tech and transportation equipment. These economic conditions in the worldwide automotive, bearing and aircraft industries, and its impact on the machine tool industry, are the reason for softening SBS Balancer orders. Machine tool industry customers are cautiously optimistic regarding short term demand for grinding machines, although the recent weakness in industrial production and business conditions in North America indicate growth rates for their products which incorporate the SBS Balancer segment product line will be lower than those experienced over the past three years. Market demand in Asia for the SBS Balancer segment products remains strong, with that region showing a 29.3% increase for the three months ended February 28, 2007, compared to the three months ended February 28, 2006. Worldwide SBS Balancer sales for the nine months ended February 28, 2007, are 3.3% ahead of the sales levels experienced in the same period in the previous fiscal year."
The information contained in this release contains certain forward-looking statements that anticipate future trends or events. These statements are based on certain assumptions that may prove to be erroneous and are subject to certain risks including, but not limited to, the uncertainties of the Company's new product introductions, the risks of increased competition and technological change in the Company's industry and other factors detailed in the Company's SEC filings. Accordingly, actual results may differ, possibly materially, from the predictions contained herein.


Contact:
Schmitt IndustriesLinda M. Case, Investor Relations, 503-227-7908www.schmitt-ind.com</SPAN>Source: Schmitt Industries

http://biz.yahoo.com/bw/070330/20070330005112.html?.v=1
post #3 of 130
4 Buy Indicators is good... In with 200 for a start... Any idea when the earnings is due?
post #4 of 130
Thread Starter 
Schmitt Industries, Inc. is a Portland, Oregon-based Company that develops and markets high-tech equipment essential to a variety of manufacturing processes. Schmitt's balancing equipment keeps precision machine tools operating at peak efficiency, while its innovative laser measurement systems help ensure that computer chips and hard disks are free from defects. With an expanding international presence, the company markets its products to a worldwide customer base that reads like a "Who's who" of global industry.
For an overview of Schmitt Industries history, please see Intro to Schmitt in our Corporate info section of this site.

Global Growth Strategy
BALANCING SYSTEMS
MEASUREMENT SERVICES
MEASUREMENT SYSTEMS

Schmitt has established sales offices in England, managed by a dedicated Europe sales manager. We have been working in China since 1994 and have established a focused distribution network which is actively managed by a dedicated Schmitt sales manager.
Schmitt has developed a strong market presence throughout the European Community and Asia with these moves, which offers the company attractive growth potential.

Balancing Equipment for Precision Machine Tools
Schmitt Balancing Systems are utilized throughout the world by such industrial giants as Boeing, General Motors, Ford, Mercedes Benz and Daewoo. These innovative systems are used to keep precision rotating devices, such as grinding wheels, fans and turbines, operating at optimum efficiency. Productivity and cost savings can be substantial: One customer reported that Schmitt's equipment reduced downtime for balancing from 90 minutes to 15 minutes a day.

Precise Laser Measurement for Computer Makers
Another wholly owned subsidiary is Schmitt Measurement Systems. This divisions core product, the TMS 2000RC, uses reflected laser light to measure the surface smoothness of substrates, the basic material for computer chips, as well as disks for hard drives. Schmitt's equipment allows manufacturers to catch substandard parts quickly and correct manufacturing processes before too many defective parts are produced. Schmitt's laser-scanning technology has been purchased in quantity and accepted by such industry powerhouses as Hitachi/IBM, HMT, Komag and Seagate.
Computers are becoming exponentially more powerful and complex. Over the last 25 years, the computing power of microprocessor chips, the heart of PCs, has increased almost 50 percent per year. By the year 2006, Intel projects that its semiconductor chips will contain between 300 million and 500 million transistors compared with 3.5 million transistors today. As a result, tolerances in manufacturing are becoming even more exacting. Surface texture must be smoother and freer of defects than was even imaginable just a few years ago. Schmitt's precise laser measurement systems, which measure in 10ths of angstroms, help ensure that semiconductors and computer hard disks meet these demanding quality standards. One angstrom is four-billionths of an inch.

http://www.schmitt-ind.com/investor-info.shtml
post #5 of 130
Added more at 9.43
post #6 of 130
watching closely and looking to buy here...thanks for the alert mr M.
and LIMS too.
post #7 of 130
Going!

Looking to break out past $10. Watch for the volume to come in...
post #8 of 130
BREAKOUT!
post #9 of 130
Thread Starter 
Earnings date is on July 20th according to the (Schmitt) corporate secretary. They will be blowout imo and the stock will explode, keep on radar as SMIT remains undervalued with a P/E even now of only 17 on 95% eps growth and zero debt. This stock reminds me of HDNG at these levels.

Float 1.98M

IBD ratings currently 90 87 89 which will be revised upward after July 20th.
post #10 of 130
Thread Starter 
Contact:

Linda M. Case
Corporate Secretary
Schmitt Industries, Inc.
2754 NW Nicolai St.
Portland, OR 97210
(503) 595-4260
post #11 of 130
nice pick
post #12 of 130
Thread Starter 
Quote:
Originally Posted by rossiTK View Post
nice pick
Just getting started here.

$10.24
post #13 of 130
this could be nice
post #14 of 130
I see the P/E as 19.4...still good with industry average at 24.9. Looks like a good entry, just not crazy about the sector, but looking at the ISM numbers today ,recent uptick in manufactures might be able to beat earnings even though its projected at .20 almost three times last quarters estimates



Financial Highlights

2004 2005 2006
Revenues 7,924,76610,591,22911,503,360
Operating Income 437,2661,216,4601,733,596
Net Income After Taxes 516,5851,608,1401,350,129
Net Income Per Share, Diluted 0.200.59 0.49
Stockholders Equity 6,113,8077,978,821 9,814,431


Schmitt Industries designs, manufactures and markets two distinct types of precision measurement systems. Schmitt's automatic balancing systems for rotating machinery are used by many of the world's leading automotive, aerospace and bearing manufacturers. The second Schmitt product line, non-contact measurement laser systems, are targeted to high-tech manufacturers worldwide and ensure that silicon wafers and computer hard disks meet exacting standards for surface microroughness.


http://www.schmitt-ind.com/investor-...ghlights.shtml
http://finance.yahoo.com/q/ks?s=SMIT
post #15 of 130
Thread Starter 
Another 52 wk high close coming.. current $10.35
post #16 of 130
Thread Starter 
Schmitt Industries Inc: Company Description
Schmitt Industries Inc2765 N.W. Nicolai Street
Portland, OR 97210Phone: +1503.2277908
Fax: +1503.2231258

Schmitt Industries, Inc. designs, assembles and markets computer-controlled balancing equipment (the Balancer Segment) primarily to the machine tool industry. Through its wholly owned subsidiary, Schmitt Measurement Systems, Inc. (SMS), the Company designs, manufactures and markets precision laser measurement systems (the Measurement Segment). Schmitt Industries, Inc. also sells and markets its products in Europe through its wholly owned subsidiary, Schmitt Europe Ltd. (SEL), located in the United Kingdom. During the fiscal year ended May 31, 2006 (fiscal 2006), net sales of balancing products accounted for 68% of the Company's total sales. During fiscal 2006, net sales of Measurement products accounted for 32% of its total sales. Effective May 30, 2005, the Company liquidated and dissolved its German subsidiary, Schmitt Europa, GmbH.

Balancer Segment

The Company's principal product is the Schmitt Dynamic Balance System (the SBS System), consisting of a computer control unit, sensor, spindle-mounting adapter and balance head. The SBS System is fully automated, eliminating the need to pre-balance such devices as grinding wheels. Within its customer base for the SBS System, there are three market segments: machine tool builders, machine tool rebuilders and grinding machine users. Machine tool builders design and manufacture a variety of cylindrical, surface and specialty application grinding machines. SBS Systems are distributed to a variety of world markets through original equipment manufacturer (OEM) accounts, where a special pricing (20% discount) is offered to the machine builder incorporating the SBS System into its machine. Machine tool rebuilders are customers, found in most, if not all, industrialized nations, develop their business by offering to update and refurbish older grinding machines. These rebuilders tear the old machine apart and install new components, such as the SBS System. The Company sells its products directly to machine rebuilders in the United States and Western Europe. Grinding machine users become aware of the SBS System through trade shows, trade magazine advertising, distributors, field representatives, referrals and new machine suppliers. The Company's business is conducted worldwide with some customers, including Black & Decker, Briggs and Stratton, Caterpillar Inc., Daewoo International Corp., Eaton Corporation, Emerson Power Transmission, Ford Motor Company, General Electric Corp., General Motors, Getrag Automotive, Ingersoll Rand, Komatsu, Lawrence Berkeley, Sumitomo Heavy Industries, NSK Bearing, NTN Bearing, Oakridge National Lab, Purdue University, SKF Bearing Industries, Texas Instruments, The Timken Company, TRW Automotive Components and Universal Bearing.

Measurement Segment

Schmitt Industries, Inc. manufactures and markets a line of laser-based, precision measurement systems and operates a precision laser light scatter measurement laboratory. Light scatter technology involves using lasers, optics and detectors to direct a beam of light on a material sample and record its reflection/transmission. The principal products are laser-based measurement products and technology applicable to both industrial and military markets. There are four product lines: laser-based, light-scatter measurement; dimensional sizing; research and other laser alignment products, and a light-scatter measurement laboratory.

Laser-based, light-scatter measurement products are sold to manufacturers of disk drives and silicon wafers, both industries with fabrication processes that require precise and reliable measurements. The Company's technology simultaneously measures disk surface roughness in two directions, radially, when the read/write head is moving to another disk sector, and circumferentially, when the read/write head is processing information on the disk. The two separate roughness levels are required for proper head operation. It offers two products to the silicon wafer industry: the TMS-2000W-RC and TMS-3000W-RC. Both products provide accurate, repeatable measurements for manufacturers of silicon wafers, computer chips and memory devices.

Dimensional sizing products are used in a range of industrial applications, including steel casting, paper production, medical imaging, crane control and micron-level part and surface inspection. There are four AccuRange (AR) product lines: the AR4000 distance measurement sensor, the AR4000 Line Scanner, and the AR600 and AR200 series of triangulating laser displacement sensors. The AR4000 optical distance measurement sensor operates by emitting a collimated laser beam that is reflected from the target surface and collected by a sensor. The AR4000 Line Scanner is used with the AR4000 to scan and collect distance data over a full circle. The scanner consists of a balanced, rotating mirror and motor with position encoder and mounting hardware for use with the AR4000. The AR600 series is a family of triangulating laser displacement sensors with accuracy and sensitivity. The sensor projects a beam of visible laser light that creates a spot on the target surface. The AR200 sensors project a beam of visible laser light that creates a spot on the target surface.
post #17 of 130
Thread Starter 
The Company's CASI Scatterometers are sold to companies and institutions involved in research efforts. The CASI Scatterometer uses visiable, ultraviolet or infrared laser light as a non-destructive probe to measure surface quality, optical performance, smoothness, appearance, defects and contamination on a variety of materials. These products are measurement instruments providing customers with roughness measurements of optical surfaces, diffuse materials, semiconductor wafers, magnetic storage media and precision-machined surfaces, as well as surfaces affecting the cosmetic appearance of consumer products. The ?Scan System is a portable device consisting of a hand-held control unit, an interchangeable measurement head and a separate charging unit. The ?Scan can store 700 measurements in 255 files and provides the capability to program pass/fail criteria.

Schmitt Industries, Inc. provides measurement services laboratory, using CASI Scatterometers, to a variety of industrial and commercial businesses that require measurements. The laboratory is used by manufacturers of optical components in aerospace and defense systems, including such companies as Aerojet, AT&T Bell Labs, Eastman Kodak, General Electric, IBM, National Aeronautics and Space Administration (NASA) and other industrial companies, universities and government agencies.
post #18 of 130
Thread Starter 

4Q and year results Schmitt earnings report: July 20th

CURRENT ANALYSIS:

- Healthy cash position

- Very little debt ($9k)

- $1.77 in cash per share

- $4.75 in revenues per share

- Tiny 1.98M share float with 45% of the #OS held by insiders/institutions

- Extremely low P/E of 18

- Very attractive sector selling to the government, large companies, and aviation industries

- Accelerating sales & EPS growth

- Strong balance sheet

- Excellent chart pattern coming off of a long sound base

- IBD Accum/Distr rating A- [ 93 87 92 ]
post #19 of 130
Thread Starter 

10 year chart

post #20 of 130
Thread Starter 

2 month chart

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