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SCHMITT INDUSTRIES, INC.: 10-Q/A filed 2022-10-12

What SCHMITT INDUSTRIES, INC. reported in its quarterly report amendment filed 2022-10-12 (fiscal Q2 2022): 46 published measures, 123 facts as tagged in accession 0001193805-22-001381.

This is an amendment. Values here are as tagged in the amendment; the original filing has its own page.

This filing

Form
10-Q/A (quarterly report amendment)
Filed
2022-10-12
Fiscal period
fiscal Q2 2022
Accession
0001193805-22-001381 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.

PeriodValueUnitDays
At 2021-11-3023,373,027USD
At 2021-05-3121,173,930USD

Total liabilities

Recognized obligations at the reporting date. The definition and scope differ from interest-bearing debt.

PeriodValueUnitDays
At 2021-11-3018,669,030USD
At 2021-05-3117,404,347USD

Stockholders equity

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

PeriodValueUnitDays
At 2021-11-304,703,997USD
At 2021-05-313,769,583USD
At 2020-11-309,694,246USD
At 2020-05-3111,893,202USD

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.

PeriodValueUnitDays
At 2021-11-304,572,774USD
At 2021-05-314,032,690USD

Net income or loss

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

PeriodValueUnitDays
2021-09-01 to 2021-11-302,482,849USD91
2021-06-01 to 2021-11-30865,045USD183
2020-09-01 to 2020-11-30-2,366,469USD91
2020-06-01 to 2020-11-30-2,215,810USD183

Operating cash flow

Cash generated or used by operating activities. Working-capital timing can make this differ substantially from reported income.

PeriodValueUnitDays
2021-06-01 to 2021-11-30-4,327,887USD183
2020-06-01 to 2020-11-30-2,783,686USD183

Capital expenditure payments

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

PeriodValueUnitDays
2021-06-01 to 2021-11-30194,429USD183
2020-06-01 to 2020-11-30258,371USD183

Contract revenue excluding tax

Revenue from customer contracts excluding assessed taxes under this specific taxonomy concept. It is not automatically comparable to older revenue tags.

PeriodValueUnitDays
2021-09-01 to 2021-11-302,961,965USD91
2021-06-01 to 2021-11-306,721,140USD183
2020-09-01 to 2020-11-302,029,712USD91
2020-06-01 to 2020-11-303,537,197USD183

Financing cash flow

Net cash from financing activities, including borrowing, repayments and transactions with owners. A positive amount does not establish operating profitability.

PeriodValueUnitDays
2021-06-01 to 2021-11-30264,476USD183
2020-06-01 to 2020-11-301,524,122USD183

Investing cash flow

Net cash from investing activities, including asset purchases, disposals and investment transactions. This differs from capital expenditure payments alone.

PeriodValueUnitDays
2021-06-01 to 2021-11-304,603,495USD183
2020-06-01 to 2020-11-30-1,969,498USD183

Retained earnings or deficit

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

PeriodValueUnitDays
At 2021-11-30-7,588,731USD
At 2021-05-31-8,453,776USD

Basic weighted-average shares

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

PeriodValueUnitDays
2021-09-01 to 2021-11-303,784,000shares91
2021-06-01 to 2021-11-303,785,997shares183
2020-09-01 to 2020-11-303,763,156shares91
2020-06-01 to 2020-11-303,763,454shares183

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.

PeriodValueUnitDays
2021-09-01 to 2021-11-303,819,616shares91
2021-06-01 to 2021-11-303,814,909shares183
2020-09-01 to 2020-11-303,763,156shares91
2020-06-01 to 2020-11-303,763,454shares183

Income tax expense or benefit

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

PeriodValueUnitDays
2021-09-01 to 2021-11-30-1,825USD91
2021-06-01 to 2021-11-307,600USD183
2020-09-01 to 2020-11-301,637USD91
2020-06-01 to 2020-11-30-403,030USD183

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.

PeriodValueUnitDays
At 2021-11-302,329,215USD
At 2021-05-312,824,017USD

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.

PeriodValueUnitDays
2021-06-01 to 2021-11-3069,369USD183
2020-06-01 to 2020-11-30251,371USD183

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.

PeriodValueUnitDays
2021-09-01 to 2021-11-30-2,272,042USD91
2021-06-01 to 2021-11-30-4,641,835USD183
2020-09-01 to 2020-11-30-2,147,280USD91
2020-06-01 to 2020-11-30-3,768,972USD183

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.

PeriodValueUnitDays
At 2021-11-307,925,741USD
At 2021-05-316,957,047USD

Interest expense

Borrowing costs recognized as interest expense. This is distinct from cash interest paid and may not include every capitalized borrowing cost.

PeriodValueUnitDays
2021-09-01 to 2021-11-3018,303USD91
2021-06-01 to 2021-11-3029,579USD183
2020-09-01 to 2020-11-301,285USD91
2020-06-01 to 2020-11-302,544USD183

Current liabilities

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

PeriodValueUnitDays
At 2021-11-304,715,182USD
At 2021-05-314,009,094USD

Current accounts payable

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

PeriodValueUnitDays
At 2021-11-30657,902USD
At 2021-05-31583,750USD

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.

PeriodValueUnitDays
At 2021-11-30273,968USD
At 2021-05-31337,725USD

Net current accounts receivable

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

PeriodValueUnitDays
At 2021-11-301,385,185USD
At 2021-05-311,154,645USD

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.

PeriodValueUnitDays
2021-09-01 to 2021-11-303,892,728USD91
2021-06-01 to 2021-11-308,552,545USD183
2020-09-01 to 2020-11-303,109,393USD91
2020-06-01 to 2020-11-305,338,729USD183

Net inventory

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

PeriodValueUnitDays
At 2021-11-301,830,445USD
At 2021-05-311,553,310USD

Gross profit

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

PeriodValueUnitDays
2021-09-01 to 2021-11-301,620,686USD91
2021-06-01 to 2021-11-303,910,710USD183
2020-09-01 to 2020-11-30962,113USD91
2020-06-01 to 2020-11-301,569,757USD183

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.

PeriodValueUnitDays
2021-09-01 to 2021-11-301,341,279USD91
2021-06-01 to 2021-11-302,810,430USD183
2020-09-01 to 2020-11-301,067,599USD91
2020-06-01 to 2020-11-301,967,440USD183

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.

PeriodValueUnitDays
2021-09-01 to 2021-11-303,887,148USD91
2021-06-01 to 2021-11-308,537,700USD183
2020-09-01 to 2020-11-303,091,516USD91
2020-06-01 to 2020-11-305,178,232USD183

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.

PeriodValueUnitDays
2021-09-01 to 2021-11-305,580USD91
2021-06-01 to 2021-11-3014,845USD183
2020-09-01 to 2020-11-3017,877USD91
2020-06-01 to 2020-11-3035,330USD183

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.

PeriodValueUnitDays
At 2021-11-303,811,142shares
At 2021-05-313,786,502shares

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.

PeriodValueUnitDays
At 2021-11-304,572,774USD
At 2021-05-314,032,690USD
At 2020-11-307,337,469USD
At 2020-05-3110,566,531USD

Operating lease right-of-use asset

Carrying amount of the right to use leased assets under operating leases. It reflects discounted remaining payments, not the value of the underlying property.

PeriodValueUnitDays
At 2020-07-0910,645,098USD

Gross property, plant and equipment

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

PeriodValueUnitDays
At 2021-11-303,320,715USD
At 2021-05-314,936,924USD

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.

PeriodValueUnitDays
At 2021-11-30991,500USD
At 2021-05-312,112,907USD

Accrued current liabilities

Current obligations accrued for goods and services received but not yet invoiced or paid. This is one component of current liabilities, not all short-term obligations.

PeriodValueUnitDays
At 2021-11-30394,248USD
At 2021-05-31465,146USD

Current contract liabilities

Consideration received before performance obligations are satisfied, often called deferred revenue. It is an obligation to deliver, not earned revenue or cash available.

PeriodValueUnitDays
At 2021-11-30117,754USD
At 2021-05-3193,364USD

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.

PeriodValueUnitDays
2021-09-01 to 2021-11-302,481,024USD91
2021-06-01 to 2021-11-30872,645USD183
2020-09-01 to 2020-11-30-2,364,832USD91
2020-06-01 to 2020-11-30-2,618,840USD183

Depreciation, depletion and amortization

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

PeriodValueUnitDays
2021-06-01 to 2021-11-30294,597USD183
2020-06-01 to 2020-11-30187,114USD183

Amortization of intangible assets

Amortization recognized on finite-lived intangible assets. It follows acquisition accounting and does not indicate the intangibles are losing usefulness at that rate.

PeriodValueUnitDays
2021-06-01 to 2021-11-301,561,754USD183
2020-06-01 to 2021-05-311,497,997USD365

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.

PeriodValueUnitDays
2021-09-01 to 2021-11-30173,274USD91
2021-06-01 to 2021-11-30357,430USD183
2020-09-01 to 2020-11-30-134,164USD91
2020-06-01 to 2020-11-30-36,836USD183

Deferred income tax expense or benefit

The deferred portion of income tax expense or benefit, arising from timing differences. It is not tax paid in the period.

PeriodValueUnitDays
2021-06-01 to 2021-11-300USD183
2020-06-01 to 2020-11-30-406,304USD183

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.

PeriodValueUnitDays
2021-06-01 to 2021-11-300USD183
2020-06-01 to 2020-11-30616USD183

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.

PeriodValueUnitDays
2021-06-01 to 2021-11-3010,606USD183
2020-06-01 to 2020-11-3080,600USD183

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.

PeriodValueUnitDays
2021-06-01 to 2021-11-30230,540USD183
2020-06-01 to 2020-11-30220,514USD183

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.

PeriodValueUnitDays
2021-06-01 to 2021-11-30277,135USD183
2020-06-01 to 2020-11-3060,250USD183

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.

PeriodValueUnitDays
2021-06-01 to 2021-11-3074,152USD183
2020-06-01 to 2020-11-30503,864USD183

Inspect the source

Entity
SCHMITT INDUSTRIES, INC. / CIK 0000922612
Captured
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.

Public company accounting reference, not market prices, returns, an investment recommendation, or ALPHAC performance. Validate a separately constructed return series with the validation API; accounting values are not returns.

Use this in research

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Read the published dataset with Python
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"]:
    print(concept["tag"], next(iter(concept["observations"])))