0000924719-15-000029.txt : 20151113 0000924719-15-000029.hdr.sgml : 20151113 20151113110825 ACCESSION NUMBER: 0000924719-15-000029 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20151112 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20151113 DATE AS OF CHANGE: 20151113 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SMITH MIDLAND CORP CENTRAL INDEX KEY: 0000924719 STANDARD INDUSTRIAL CLASSIFICATION: CONCRETE PRODUCTS, EXCEPT BLOCK & BRICK [3272] IRS NUMBER: 541727060 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-13752 FILM NUMBER: 151227605 BUSINESS ADDRESS: STREET 1: ROUTE 28 STREET 2: P O BOX 300 CITY: MIDLAND STATE: VA ZIP: 22728 BUSINESS PHONE: 5404393266 MAIL ADDRESS: STREET 1: RT 28 STREET 2: PO BOX 300 CITY: MIDLAND STATE: VA ZIP: 22728 8-K 1 smid-2015x11x12x8kxpr.htm 8-K 8-K


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
 

 FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
 
 

Date of Report (Date of Earliest Event Reported): November 12, 2015
 
 

SMITH-MIDLAND CORPORATION
(Exact Name of Registrant as Specified in Charter)
 
 

Delaware
(State or Other Jurisdiction of Incorporation)
1-13752
(Commission File Number)
54-1727060
(I.R.S. Employer Identification Number)

P.O. Box 300, 5119 Catlett Road
Midland, Virginia 22728
(Address of principal executive offices)
 
 

 (504) 439-3266
(Registrant’s telephone number, including area code)
 
 

 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
















ITEM 2.02
RESULTS OF OPERATIONS AND FINANCIAL CONDITIONS

On November 12, 2015 Smith-Midland Corporation issued a press release announcing its financial results for the nine months ended September 30, 2015.
 
A copy of the press release is attached hereto as Exhibit 99.1.
 
ITEM 9.01
FINANCIAL STATEMENTS AND EXHIBITS

(d)           Exhibits

Exhibit No
Exhibit Description
99.1
Press release, dated November 12, 2015

The information filed as an exhibit to this Form 8-K is being furnished in accordance with Item 2.02 and shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of such section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.






SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
Date:  November 13, 2015
 
 
SMITH-MIDLAND CORPORATION
 
 
 
By: /s/ William A. Kenter
 
William A. Kenter
Chief Financial Officer






SMITH-MIDLAND CORPORATION
Exhibit to Current Report on Form 8-K
November 12, 2015


Exhibit No
Exhibit Description
99.1
Press release dated November 12, 2015




 EX-99.1 2 smid-20150930xex991.htm EXHIBIT 99.1 Exhibit



Exhibit 99.1


News > Smith-Midland > Financial > September 2015 Results
November 12, 2015

SMC Announces Financial Results for the Nine Months Ended September 30, 2015
MIDLAND, Va. - Smith-Midland Corporation (OTCBB: SMID) announced that the Company reported total revenue of $10.4 million for three months ended September 30, 2015 as compared to total revenue of $6.0 million for the same period in 2014, an increase in total revenue of $4.4 million or 74.1%. The pre-tax income for the third quarter of 2015 was $1,762,056 compared to pre-tax income of $187,490 for the same period in 2014, or an increase in the pre-tax income of $1,574,566. The Company had net income of $1,152,056 for the third quarter of 2015, compared to net income of $112,490 for the same period in 2014, an increase in net income of $1,039,566. The basic and diluted earnings per share were $0.24 and $0.23, respectively, for the quarter ended September 30, 2015 while the basic and diluted earnings per share were $0.02 for the same period in 2014.

The company reported total revenue of $21.5 million for the nine months ended September 30, 2015 compared to total revenue $18.0 million for the same period in 2014, an increase in total revenue of $3.5 million, or 19.2%. The pre-tax income for the nine months ended September 30, 2015 was $1,296,544 compared to a pre-tax loss of $304,065 for the same period in 2014, or an improvement in pre-tax income of $1,600,609. The Company had net income of $872,544 for the nine months ended September 30, 2015, compared to a net loss of $186,065 for the same period in 2014, an increase in net income of $1,058,609. The basic and diluted earnings per share was $0.18 for the nine months ended September 30, 2015 while the basic and diluted loss per share was $0.04 for the same period in 2014.

Rodney Smith, Chairman and CEO, stated, “The management and associates at the Company are extremely proud to be able to present the financial results for the third quarter of 2015, one of the best quarters on record for Smith-Midland. All of the associates of the Company have been instrumental in making this quarter so successful.

“Smith-Midland is five years into our lean journey and under President Ashley Smith’s leadership, we have made significant improvements such as highly improved production planning, many improvements in employee efficiency and significant product quality improvement, and the journey continues.

“One of our top priorities for the remainder of 2015 and also in 2016 is continuous New Product Development through our Smith-Midland Research and Development team. Arguably one of the best research and development teams in the Precast Industry, we are currently developing several new products which include Non Bolted Highway Parapet, Slenderwall III and a Highway Crash Cushion using SoftSound. Innovative product development has always been the key to the future for Smith-Midland from a sales and profitability standpoint and to maintain our competitive edge for the Company and our international family of Easi-Set licensees.”

Smith-Midland develops, manufactures, licenses, rents, and sells a broad array of precast concrete products for use primarily in the construction, transportation and utilities industries.

This announcement contains forward-looking statements, which involve risks and uncertainties. The Company's actual results may differ significantly from the results discussed in the forward-looking statements. Factors which might cause such a difference include, but are not limited to, product demand, the impact of competitive products and pricing, capacity and supply constraints or difficulties, general




business and economic conditions, the effect of the Company's accounting policies and other risks detailed in the Company's Annual Report on Form 10-K and other filings with the Securities and Exchange Commission.

For more complete information on Smith-Midland Corporation, visit the Company’s web site at SMITHDELAWARE.com. The “Investor Relations” area will include the Company’s Form
10-K.


Media Inquiries:
William A. Kenter
wkenter@smithmidland.com
Sales Inquiries:
info@smithmidland.com