SMITH MIDLAND CORP

For the period ended Jun 30, 2024. Filed Aug 14, 2024.

About this filing

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.

Jun 30, 2024 · Filed Aug 14, 2024

SMID$21.51-17.8%Stored close · as of Nov 10, 2026

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Contents

Condensed Consolidated Statements of Income (Loss)

(unaudited)

(in thousands, except per share data)

	Three Months Ended June 30,		Six Months Ended June 30,
	2024	2023	2024	2023
Revenue
Product sales	$13,116	$10,702	$23,868	$18,944
Barrier rentals	1,357	700	2,250	1,819
Royalty income	869	594	1,445	1,005
Shipping and installation revenue	4,297	2,702	8,831	5,772
Total revenue	19,639	14,698	36,394	27,540
Cost of sales	14,506	12,912	27,349	23,588
Gross profit	5,133	1,786	9,045	3,952
Operating expenses
General and administrative expenses	1,669	1,884	3,218	3,233
Selling expenses	791	883	1,645	1,645
Total operating expenses	2,460	2,767	4,863	4,878
Operating income (loss)	2,673	(981)	4,182	(926)
Other income (expense)
Interest expense	(59)	(64)	(119)	(128)
Interest income	7	5	15	10
Gain on sale of assets	—	116	3	199
Other income (expense)	(8)	32	36	57
Total other income (expense)	(60)	89	(65)	138
Income (loss) before income tax expense (benefit)	2,613	(892)	4,117	(788)
Income tax expense (benefit)	632	(110)	988	(87)
Net income (loss)	$1,981	$(782)	$3,129	$(701)
Basic and diluted earnings (loss) per common share	$0.37	$(0.15)	$0.59	$(0.13)
Weighted average number of common shares outstanding:
Basic	5,322	5,256	5,315	5,256
Diluted	5,323	5,256	5,316	5,256

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.