News Releases

All Releases

Summary Toggle Schmitt Industries Announces CFO Resignation

Aug 26, 2019

PORTLAND, Ore. , Aug. 26, 2019 (GLOBE NEWSWIRE) -- Schmitt Industries, Inc. (NASDAQ: SMIT ) (the “Company” or “Schmitt”) announced today that Ann M. Ferguson submitted her letter of resignation as Chief Financial Officer of the Company, effective November 30, 2019 . Ms.
Summary Toggle Schmitt Industries Announces Xact and Tank Utility Partnership

Aug 6, 2019

PORTLAND, Ore. , Aug. 06, 2019 (GLOBE NEWSWIRE) -- Schmitt Industries, Inc. (NASDAQ: SMIT ) today announced its Xact™ Tank Monitoring Solutions (“Xact”) business line, a leading provider of satellite-connected gauge and ultrasonic readers in the Internet of Things (”IoT”) environment, has
Summary Toggle Schmitt Industries Announces ManagementaAnd Governance Updates

Aug 1, 2019

BOARD APPOINTS MICHAEL R. ZAPATA AS CHIEF EXECUTIVE OFFICER IMPLEMENTATION OF PERFORMANCE-BASED PAY FOR EXECUTIVES IMPLEMENTATION OF SUGGESTED MINIMUM SHARE OWNERSHIP REQUIREMENTS PROPOSAL FOR DECLASSIFIED BOARD AT 2019 ANNUAL MEETING PORTLAND, Ore. , Aug.
Summary Toggle Schmitt Industries Announces Fiscal 2019 Operating Results

Jul 31, 2019

PORTLAND, Ore. , July 31, 2019 (GLOBE NEWSWIRE) -- Schmitt Industries, Inc. (NASDAQ: SMIT ) today announced its financial results for the fiscal year ended May 31, 2019 . For the year ended May 31, 2019 , the Company reported consolidated revenue of $13,810,161 , compared to $13,888,063 and
Summary Toggle Schmitt Industries Adopts Stockholder Rights Plan to Protect the Value of Its Net Operating Losses

Jul 2, 2019

PORTLAND, Ore. , July 02, 2019 (GLOBE NEWSWIRE) -- Schmitt Industries, Inc. (NASDAQ: SMIT ) announced today that the Company’s Board of Directors (the “Board”) has adopted a stockholder rights plan in an effort to protect its net operating loss carryforwards (“NOLs”) under Section 382 of the
Summary Toggle Schmitt Industries Appoints Steven Strom to Its Board

Jun 26, 2019

PORTLAND, Ore. , June 26, 2019 (GLOBE NEWSWIRE) -- Schmitt Industries, Inc. (NASDAQ: SMIT ) today announced the appointment of Steven Strom as the fifth member of the Company’s Board of Directors (the “Board”) effective June 21, 2019 . Steven Strom is an “independent director” according to the
Summary Toggle Schmitt Industries Announces Industry Survey Results

Apr 30, 2019

PORTLAND, Ore. , April 30, 2019 (GLOBE NEWSWIRE) -- Schmitt Industries, Inc. (NASDAQ: SMIT ) today announced results from a recent survey the Company conducted regarding its Schmitt Dynamic Balance System® (“SBS”) product line and the Company’s service in the grinding industry.
Summary Toggle Schmitt Industries Announces Relaunch of Xact Website

Apr 16, 2019

PORTLAND, Ore., April 16, 2019 (GLOBE NEWSWIRE) -- Schmitt Industries, Inc. (NASDAQ: SMIT) today announced the relaunch of the Xact® website. Xact Main Page Why Xact? Xact, part of the Schmitt Industries family of products, provides industry-leading remote tank monitoring for fuel distributors.
Summary Toggle Schmitt Industries Announces Third Quarter Fiscal 2019 Operating Results

Apr 10, 2019

PORTLAND, Ore. , April 10, 2019 (GLOBE NEWSWIRE) -- Schmitt Industries, Inc. (NASDAQ: SMIT ) (the “Company” or “Schmitt”) today announced its operating results for the third quarter of Fiscal 2019. Highlights of the three and nine months ended February 28, 2019 : Total net sales for the Company
Summary Toggle Schmitt Industries Announces Promotion and Expansion Plans for Schmitt Europe Limited

Feb 18, 2019

PORTLAND, Ore. , Feb. 18, 2019 (GLOBE NEWSWIRE) -- Schmitt Industries, Inc. (NASDAQ: SMIT ) today announced promotion and expansion plans for Schmitt Europe Limited (SEL), which will further position the company with its focus on the European grinding market.
Summary Toggle Schmitt Industries Announces Second Quarter Fiscal 2019 Operating Results

Jan 10, 2019

PORTLAND, Oregon , Jan. 10, 2019 (GLOBE NEWSWIRE) -- Schmitt Industries, Inc. (NASDAQ: SMIT ) today announced its operating results for the second quarter of Fiscal 2019. Highlights of the three and six months ended November 30, 2018 : Balancer segment sales increased $114,634 , or 5.1%, to
Summary Toggle Schmitt Industries Announces Strategic Reorganization

Nov 27, 2018

New Structure Focuses and Commits to Core SBS Business Company to Seek Disposition of Non-Core Assets David Case , CEO, Named Special Advisor to Board of Directors Donna Witkowski Promoted to SBS President Michael Zapata Appointed Executive Chairman, President of Schmitt PORTLAND, Ore. , Nov.
Summary Toggle Schmitt Industries Announces First Quarter Fiscal 2019 Operating Results

Oct 12, 2018

PORTLAND, Ore. , Oct. 12, 2018 (GLOBE NEWSWIRE) -- Schmitt Industries, Inc. (NASDAQ: SMIT ) today announced its operating results for the first quarter of Fiscal 2019. Results for the three months ended August 31, 2018 reflect the Company’s on-going initiatives to focus on increasing sales in both
Summary Toggle Schmitt Industries, Inc. Announces that ISS and Glass Lewis Both Recommend that SMIT Shareholders DO NOT VOTE FOR SENTENTIA Nominees

Oct 2, 2018

PORTLAND, Ore. , Oct. 02, 2018 (GLOBE NEWSWIRE) -- Schmitt Industries, Inc. (NASDAQ: SMIT ) (“ SMIT ”) today announced that Institutional Shareholders Services Inc. and Glass Lewis , the leading independent proxy research and advisory firms to institutional investors, have both recommended that
Summary Toggle Schmitt Industries Announces Annual Meeting Date

Aug 24, 2018

PORTLAND, Ore. , Aug. 24, 2018 (GLOBE NEWSWIRE) -- Schmitt Industries (Nasdaq: SMIT ) announced today that its Annual Meeting of Shareholders will be held on Friday, October 12, 2018 at 3:00 p.m. local time, at the Company’s headquarters at 2765 NW Nicolai St. , Portland, Oregon .
Summary Toggle Schmitt Industries Announces Fourth Quarter and Fiscal 2018 Operating Results

Jul 18, 2018

PORTLAND, Ore. , July 18, 2018 (GLOBE NEWSWIRE) -- Schmitt Industries, Inc. (NASDAQ:SMIT) today announced its operating results for the fourth quarter and fiscal year ended May 31, 2018 . Results for the quarter and fiscal year ended May 31, 2018 reflect the Company’s on-going initiatives to (1)
Summary Toggle Schmitt Industries Announces Third Quarter Fiscal 2018 Operating Results

Apr 6, 2018

PORTLAND, Ore. , April 06, 2018 (GLOBE NEWSWIRE) -- Schmitt Industries, Inc. (NASDAQ:SMIT) today announced its operating results for the three and nine months ended February 28 , 2018. For the three months ended February 28, 2018 , total sales increased $39,736 , or 1.2%, to $3,238,858 from
Summary Toggle Schmitt Industries, Inc. Announces Appointment of David Case as President and Chief Executive Officer

Jan 8, 2018

PORTLAND, Ore. , Jan. 08, 2018 (GLOBE NEWSWIRE) -- Schmitt Industries, Inc. (NASDAQ:SMIT) (the "Company") announced today that David W. Case has assumed the role of President and Chief Executive Officer of the Company, effective as of January 5, 2018 and that David M.
Summary Toggle Schmitt Industries, Inc. Concludes 2017 Rights Offering Heavily Oversubscribed

Dec 22, 2017

PORTLAND, Ore. , Dec. 22, 2017 (GLOBE NEWSWIRE) -- Schmitt Industries, Inc. (NASDAQ:SMIT) (the “ Company”) today announced the completion of its Subscription Rights Offering (the “Rights Offering”) in which 998,636 common shares will be issued, resulting in gross proceeds to the Company of
Summary Toggle Schmitt Industries Announces Second Quarter Fiscal 2018 Operating Results

Dec 13, 2017

PORTLAND, Ore. , Dec. 13, 2017 (GLOBE NEWSWIRE) -- Schmitt Industries, Inc. (NASDAQ:SMIT) today announced its operating results for the three and six months ended November 30 , 2017. For the three months ended November 30, 2017 , total sales increased $1,115,319 , or 42.0%, to $3,770,880 from