SMITH MIDLAND CORP
For the period ended Mar 31, 2024. Filed Jun 11, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed Jun 11, 2024
SMID$21.51-17.8%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Income (Loss)
Condensed Consolidated Statements of Income
(unaudited)
(in thousands, except per share data)
| Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Revenue | ||
| Product sales | $10,752 | $8,242 |
| Barrier rentals | 893 | 1,120 |
| Royalty income | 575 | 411 |
| Shipping and installation revenue | 4,536 | 3,069 |
| Total revenue | 16,756 | 12,842 |
| Cost of sales | 12,845 | 10,676 |
| Gross profit | 3,911 | 2,166 |
| Operating expenses | ||
| General and administrative expenses | 1,549 | 1,350 |
| Selling expenses | 853 | 762 |
| Total operating expenses | 2,402 | 2,112 |
| Operating income (loss) | 1,509 | 54 |
| Other income (expense) | ||
| Interest expense | (60) | (64) |
| Interest income | 8 | 6 |
| Gain on sale of assets | 3 | 82 |
| Other income | 44 | 25 |
| Total other income (expense) | (5) | 49 |
| Income (loss) before income tax expense (benefit) | 1,504 | 103 |
| Income tax expense (benefit) | 357 | 23 |
| Net income (loss) | $1,147 | $80 |
| Basic earnings (loss) per common share | $0.22 | $0.02 |
| Diluted earnings (loss) per common share | $0.21 | $0.02 |
| Weighted average number of common shares outstanding: | ||
| Basic | 5,309 | 5,256 |
| Diluted | 5,350 | 5,290 |
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