SCHMITT INDUSTRIES, INC.: 10-Q filed 2018-04-13

Name: SCHMITT INDUSTRIES, INC.: 10-Q filed 2018-04-13
Creator: SCHMITT INDUSTRIES, INC.

What SCHMITT INDUSTRIES, INC. reported in its quarterly report filed 2018-04-13 (fiscal Q3 2018): 40 published measures, 112 facts as tagged in accession 0001193125-18-117012.

This filing

Form: 10-Q (quarterly report)
Filed: 2018-04-13
Fiscal period: fiscal Q3 2018
Accession: 0001193125-18-117012 on SEC EDGAR

Values are as tagged in this filing. A later filing can restate them; each measure links to its history page, which shows the latest-filed value per period. All SCHMITT INDUSTRIES, INC. filings.

Reported measures

Total assets

Resources recognized on the balance sheet. Book assets are not the market value of the business.

Period	Value	Unit	Days
At 2018-02-28	11,049,414	USD
At 2017-05-31	9,006,344	USD

Stockholders equity

The reported residual interest after liabilities. It is an accounting amount, not market capitalization.

Period	Value	Unit	Days
At 2018-02-28	9,338,743	USD
At 2017-05-31	6,977,387	USD

Cash and cash equivalents

Cash and qualifying short-term liquid investments under the filer’s accounting policy. Restricted cash and longer-term investments may be reported separately.

Period	Value	Unit	Days
At 2018-02-28	1,985,928	USD
At 2017-05-31	867,607	USD

Net income or loss

Reported profit or loss for the period. Check the filing for attribution, exceptional items and discontinued operations before comparing companies.

Period	Value	Unit	Days
2017-12-01 to 2018-02-28	15,553	USD	90
2017-06-01 to 2018-02-28	-15,297	USD	273
2016-12-01 to 2017-02-28	-131,333	USD	90
2016-06-01 to 2017-02-28	-639,432	USD	273

Capital expenditure payments

Cash payments to acquire property, plant and equipment. This taxonomy concept does not capture every form of investment or acquisition.

Period	Value	Unit	Days
2017-06-01 to 2018-02-28	8,467	USD	273
2016-06-01 to 2017-02-28	48,510	USD	273

Retained earnings or deficit

Accumulated undistributed earnings or deficit at the reporting date. This balance is not cash available for distribution.

Period	Value	Unit	Days
At 2018-02-28	-3,259,625	USD
At 2017-05-31	-3,244,328	USD

Basic weighted-average shares

Time-weighted shares used for basic earnings per share. This denominator differs from shares outstanding at a single reporting date.

Period	Value	Unit	Days
2017-12-01 to 2018-02-28	3,706,050	shares	90
2017-06-01 to 2018-02-28	3,230,022	shares	273
2016-12-01 to 2017-02-28	2,995,910	shares	90
2016-06-01 to 2017-02-28	2,995,910	shares	273

Diluted weighted-average shares

Weighted-average shares used for diluted earnings per share. Potential shares are included under the applicable dilution rules, not simply added to outstanding shares.

Period	Value	Unit	Days
2017-12-01 to 2018-02-28	3,769,814	shares	90
2017-06-01 to 2018-02-28	3,230,022	shares	273
2016-12-01 to 2017-02-28	2,995,910	shares	90
2016-06-01 to 2017-02-28	2,995,910	shares	273

Basic earnings per share

Reported earnings or loss per basic common share or unit. Inspect attribution, share classes and restatements before comparing periods. This is not a market return.

Period	Value	Unit	Days
2017-12-01 to 2018-02-28	0	USD/shares	90
2017-06-01 to 2018-02-28	0	USD/shares	273
2016-12-01 to 2017-02-28	-0.04	USD/shares	90
2016-06-01 to 2017-02-28	-0.21	USD/shares	273

Diluted earnings per share

Reported earnings or loss per share under dilution rules. Antidilutive instruments may be excluded. A diluted value can equal the basic value without implying no potential dilution.

Period	Value	Unit	Days
2017-12-01 to 2018-02-28	0	USD/shares	90
2017-06-01 to 2018-02-28	0	USD/shares	273
2016-12-01 to 2017-02-28	-0.04	USD/shares	90
2016-06-01 to 2017-02-28	-0.21	USD/shares	273

Income tax expense or benefit

Current and deferred income tax expense or benefit for continuing operations. This accounting expense differs from cash taxes paid.

Period	Value	Unit	Days
2017-12-01 to 2018-02-28	6,267	USD	90
2017-06-01 to 2018-02-28	19,235	USD	273
2016-12-01 to 2017-02-28	6,993	USD	90
2016-06-01 to 2017-02-28	21,372	USD	273

Net property, plant and equipment

Carrying amount of property, plant and equipment after accumulated depreciation, depletion and amortization. It is not replacement cost or market value.

Period	Value	Unit	Days
At 2018-02-28	793,683	USD
At 2017-05-31	865,224	USD

Share-based compensation expense

Reported noncash expense for share-based payment arrangements. Noncash treatment does not mean the awards have no economic cost to shareholders.

Period	Value	Unit	Days
2017-06-01 to 2018-02-28	42,167	USD	273
2016-06-01 to 2017-02-28	18,646	USD	273

Operating income or loss

Operating revenue less operating expenses for the reporting period. It excludes items outside the reported operating result and is not free cash flow.

Period	Value	Unit	Days
2017-12-01 to 2018-02-28	-39,995	USD	90
2017-06-01 to 2018-02-28	-84,498	USD	273
2016-12-01 to 2017-02-28	-98,698	USD	90
2016-06-01 to 2017-02-28	-567,007	USD	273

Current assets

Assets classified as current under the normal operating cycle or one-year boundary. Not all current assets can be converted immediately into cash.

Period	Value	Unit	Days
At 2018-02-28	9,732,818	USD
At 2017-05-31	7,539,769	USD

Current liabilities

Obligations classified as current under the operating-cycle or one-year boundary. The balance includes more than short-term borrowing.

Period	Value	Unit	Days
At 2018-02-28	1,710,671	USD
At 2017-05-31	2,028,957	USD

Current accounts payable

Current amounts owed to suppliers for goods and services received. This is one component of current liabilities, not all accrued obligations.

Period	Value	Unit	Days
At 2018-02-28	842,976	USD
At 2017-05-31	1,101,066	USD

Net finite-lived intangible assets

Finite-lived intangible assets after amortization. This excludes goodwill and should not be combined with indefinite-lived intangible assets without checking scope.

Period	Value	Unit	Days
At 2018-02-28	522,913	USD
At 2017-05-31	601,351	USD

Net current accounts receivable

Current customer receivables after the allowance for credit loss. The balance is not cash collected or a guarantee of collection.

Period	Value	Unit	Days
At 2018-02-28	2,086,706	USD
At 2017-05-31	2,344,373	USD

Operating expenses

Recurring operating costs under this accounting concept, generally excluding production costs included in cost of sales. Check filing presentation before combining expense subtotals.

Period	Value	Unit	Days
2017-12-01 to 2018-02-28	1,362,508	USD	90
2017-06-01 to 2018-02-28	4,532,512	USD	273
2016-12-01 to 2017-02-28	1,313,240	USD	90
2016-06-01 to 2017-02-28	4,189,708	USD	273

Net inventory

Inventory carrying amount after applicable valuation and LIFO reserves. It does not establish realizable selling proceeds or inventory turnover without other inputs.

Period	Value	Unit	Days
At 2018-02-28	5,449,808	USD
At 2017-05-31	4,204,723	USD

Gross profit

Revenue less the costs directly attributed to the goods or services sold. It precedes other operating expenses and is not net income.

Period	Value	Unit	Days
2017-12-01 to 2018-02-28	1,322,513	USD	90
2017-06-01 to 2018-02-28	4,448,014	USD	273
2016-12-01 to 2017-02-28	1,214,542	USD	90
2016-06-01 to 2017-02-28	3,622,701	USD	273

Cost of revenue

Costs attributed to goods produced and sold and services provided during the period. This is not the sum of every operating expense.

Period	Value	Unit	Days
2017-12-01 to 2018-02-28	1,916,345	USD	90
2017-06-01 to 2018-02-28	5,645,372	USD	273
2016-12-01 to 2017-02-28	1,984,580	USD	90
2016-06-01 to 2017-02-28	5,124,514	USD	273

Selling, general and administrative expense

Selling and general administrative costs reported under this concept. It is an expense category, not a substitute for total operating expenses.

Period	Value	Unit	Days
2017-12-01 to 2018-02-28	1,286,718	USD	90
2017-06-01 to 2018-02-28	4,279,505	USD	273
2016-12-01 to 2017-02-28	1,263,529	USD	90
2016-06-01 to 2017-02-28	4,000,873	USD	273

Research and development expense

Research and development costs recognized as expense. Capitalization policies and acquired projects can make this differ from total cash invested in development.

Period	Value	Unit	Days
2017-12-01 to 2018-02-28	75,790	USD	90
2017-06-01 to 2018-02-28	253,007	USD	273
2016-12-01 to 2017-02-28	49,711	USD	90
2016-06-01 to 2017-02-28	188,835	USD	273

Common shares outstanding

Common shares outstanding at the reporting date. This point-in-time count differs from the weighted-average shares used for earnings per share and can exclude other share classes.

Period	Value	Unit	Days
At 2018-02-28	3,994,545	shares
At 2017-05-31	2,995,910	shares

Cash including restricted cash

Cash, cash equivalents and restricted cash as reported in the cash flow reconciliation. Restricted amounts are not freely available, so this is not the same as unrestricted cash.

Period	Value	Unit
At 2018-02-28	2,046,970	USD
At 2017-05-31	867,607	USD
At 2017-02-28	481,831	USD
At 2016-05-31	988,686	USD

Accumulated other comprehensive income or loss

Cumulative other comprehensive items after tax, such as translation and unrealized hedging or securities effects. These amounts have not passed through net income.

Period	Value	Unit	Days
At 2018-02-28	-479,115	USD
At 2017-05-31	-427,572	USD

Gross property, plant and equipment

Cost of property, plant and equipment before accumulated depreciation. Historical cost does not indicate current value or replacement cost.

Period	Value	Unit	Days
At 2018-02-28	3,411,421	USD
At 2017-05-31	3,404,574	USD

Accumulated depreciation on property, plant and equipment

Cumulative depreciation, depletion and amortization recorded against property, plant and equipment. It measures cost allocation to date, not physical wear or market value.

Period	Value	Unit	Days
At 2018-02-28	2,617,738	USD
At 2017-05-31	2,539,350	USD

Pre-tax income or loss from continuing operations

Income or loss from continuing operations before income taxes and noncontrolling interests. It excludes discontinued operations and is not net income.

Period	Value	Unit	Days
2017-12-01 to 2018-02-28	21,820	USD	90
2017-06-01 to 2018-02-28	3,938	USD	273
2016-12-01 to 2017-02-28	-124,340	USD	90
2016-06-01 to 2017-02-28	-618,060	USD	273

Comprehensive income or loss

Net income plus other comprehensive income after tax. It includes unrealized items that net income excludes and is not a cash measure.

Period	Value	Unit	Days
2017-12-01 to 2018-02-28	-36,430	USD	90
2017-06-01 to 2018-02-28	-66,840	USD	273
2016-12-01 to 2017-02-28	-151,933	USD	90
2016-06-01 to 2017-02-28	-723,734	USD	273

Depreciation, depletion and amortization

Combined depreciation, depletion and amortization for the period. A noncash allocation of asset cost, not a measure of maintenance spending.

Period	Value	Unit	Days
2017-06-01 to 2018-02-28	156,326	USD	273
2016-06-01 to 2017-02-28	165,071	USD	273

Other nonoperating income or expense

Other income or expense outside operations under this concept. The composition is filer-specific and can include one-time items.

Period	Value	Unit	Days
2017-12-01 to 2018-02-28	61,815	USD	90
2017-06-01 to 2018-02-28	88,436	USD	273
2016-12-01 to 2017-02-28	-25,642	USD	90
2016-06-01 to 2017-02-28	-51,053	USD	273

Interest paid, net

Cash interest paid during the period, net of amounts capitalized where the filer reports it that way. It differs from interest expense recognized.

Period	Value	Unit	Days
2017-06-01 to 2018-02-28	1,114	USD	273
2016-06-01 to 2017-02-28	2,427	USD	273

Income taxes paid, net

Cash income taxes paid net of refunds during the period. It differs from income tax expense and can reflect prior years and estimated payments.

Period	Value	Unit	Days
2017-06-01 to 2018-02-28	8,460	USD	273
2016-06-01 to 2017-02-28	17,881	USD	273

Proceeds from issuing common stock

Cash received from issuing common stock during the period. It is gross of costs only where the filer reports it so, and it does not include noncash issuances.

Period	Value	Unit	Days
2017-06-01 to 2018-02-28	2,386,029	USD	273
2016-06-01 to 2017-02-28	0	USD	273

Change in accounts receivable

The cash flow adjustment for the change in receivables during the period. A positive value under this concept means receivables grew and reduced operating cash flow.

Period	Value	Unit	Days
2017-06-01 to 2018-02-28	-291,273	USD	273
2016-06-01 to 2017-02-28	216,535	USD	273

Change in inventories

The cash flow adjustment for the change in inventories during the period. A positive value under this concept means inventory grew and reduced operating cash flow.

Period	Value	Unit	Days
2017-06-01 to 2018-02-28	1,218,520	USD	273
2016-06-01 to 2017-02-28	-329,250	USD	273

Change in accounts payable

The cash flow adjustment for the change in payables during the period. A positive value under this concept means payables grew and added to operating cash flow.

Period	Value	Unit	Days
2017-06-01 to 2018-02-28	-261,532	USD	273
2016-06-01 to 2017-02-28	-52,392	USD	273

Inspect the source

Entity: SCHMITT INDUSTRIES, INC. / CIK 0000922612
Captured: 2026-09-22 19:36 UTC
SEC response SHA-256: b8e4be2be1c07c223d269f43a8f2524da6da246178565de2100c23cfd6c6fc11

Current SEC company facts · Download the original response snapshot (gzip) · Download the selected JSON

Every published concept a filing tagged, with the periods it covered, as reported in that filing at capture time. Forms 10-K, 10-K/A, 10-Q, 10-Q/A, 20-F, 20-F/A, 40-F, 40-F/A. A filing page needs at least 8 published concepts. Later filings can restate these values; the company history pages show the latest-filed value per period.

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import json
from urllib.request import urlopen

with urlopen("https://canlicapital.com/company-data/0000922612.json") as response:
    record = json.load(response)
print(record["fetched_at"])
print(record["policy"])
for concept in record["concepts"]:
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