0001628280-16-013894.txt : 20160330 0001628280-16-013894.hdr.sgml : 20160330 20160330142240 ACCESSION NUMBER: 0001628280-16-013894 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20160328 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20160330 DATE AS OF CHANGE: 20160330 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: 161538714 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-2016x03x28x8xkxpr.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): March 28, 2016
 
 

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 Condition

On March 28, 2016, Smith-Midland Corporation issued a press release announcing its financial results for the year ended December 31, 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 March 28, 2016

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:  March 30, 2016
 
 
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
March 28, 2016

Exhibit No
Exhibit Description
99.1
Press release, dated March 28, 2016




EX-99.1 2 smid-2016x03x28x8kxex991.htm EXHIBIT 99.1 Exhibit


Exhibit 99.1


News > Smith-Midland > Financial > 2015 Results
March 28, 2016

SMC Announces Financial Results for the Year Ended December 31, 2015

MIDLAND, VA. - Smith-Midland Corporation (OTCQX: SMID) announced that the Company reported total revenue of $29.2 million for 2015 compared to $22.5 million for 2014, an increase of $6.7 million, or 30%. The Company reported pre-tax income of $1.6 million for 2015 compared to a pre-tax loss of $1.3 million for 2014, an increase of $2.9 million. The Company reported net income of $1.1 million, compared to a net loss of $804,839 in 2014, an increase of $1.9 million. The basic and diluted income per share was $0.23 for 2015 while the basic and diluted loss per share was $0.16 for 2014.

The Company reported fourth quarter revenues of $7.7 million for 2015 compared to $4.4 million for 2014, an increase of $3.3 million, or 75%. The pre-tax income for the fourth quarter of 2015 was $304,760 compared to a pre-tax loss of $998,773, an increase of $1,303,533. The Company had net income for the fourth quarter of 2015 in the amount of $250,760 compared to a net loss of $618,773 in 2014, an increase of $869,534.

Rodney Smith, Chairman and CEO, stated, “I am pleased to report that the Company had another positive quarter for the three months ended December 31, 2015 as well as a very profitable year for 2015 as suggested in my earlier press releases of 2015. It is personally gratifying to me that we were able to deliver on our projected increased profitability and that the Great Recession is largely over for Smith-Midland.

“As always, we continue to look ahead to the future of the Company and what to expect for 2016 and beyond. As most of you are aware, a $305 billion, five year highway bill was passed by Congress and signed by the President giving some added stability to highway work. For Smith-Midland and our nationwide network of Easi-Set Worldwide licensees this allows us the opportunity to quote on an increasing list of highway projects. We currently have seven soundwall projects in production or waiting to start production in the near future. These projects as well as our other projects in progress should keep us profitable for the remainder of 2016.”

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 SMITHMIDLAND.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