0001654954-24-007630.txt : 20240612 0001654954-24-007630.hdr.sgml : 20240612 20240612100855 ACCESSION NUMBER: 0001654954-24-007630 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 16 CONFORMED PERIOD OF REPORT: 20240611 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240612 DATE AS OF CHANGE: 20240612 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SMITH MIDLAND CORP CENTRAL INDEX KEY: 0000924719 STANDARD INDUSTRIAL CLASSIFICATION: CONCRETE PRODUCTS, EXCEPT BLOCK & BRICK [3272] ORGANIZATION NAME: 04 Manufacturing 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: 241037670 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_8k.htm FORM 8-K smid_8k.htm

 

 

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): June 11 2024

 

SMITH-MIDLAND CORPORATION

(Exact Name of Registrant as Specified in Charter)

 

Delaware

 

1-13752

 

54-1727060

(State or Other Jurisdiction

of Incorporation)

 

(Commission

File Number)

 

(I.R.S. Employer

Identification Number)

 

P.O. Box 300, 5119 Catlett Road

Midland, Virginia 22728

(Address of principal executive offices)

 

(540) 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):

 

☐

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

 

 

☐

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

 

 

☐

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

 

 

☐

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

 

Securities Registered Pursuant to Section 12(b) of the Act:

 

Title of each class

 

Trading Symbol

 

Name of each exchange

on which registered

Common Stock, $0.01 par value per share

 

SMID

 

NASDAQ

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company ☐

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

 

Item 2.02 Results of Operations and Financial Condition

 

On June 11, 2024, Smith-Midland Corporation issued a press release announcing its financial results for the quarter ended March 31, 2024.

 

A copy of the press release is attached hereto as Exhibit 99.1.

 

ITEM 9.01 Financial Statements and Exhibits.

 

Exhibit No

 

Exhibit Description

 

 

 

99.1

 

Press release, dated June 11, 2024

 

 

 

104

 

Cover Page Interactive Data File (embedded within the Inline XBRL document)  

 

The information filed as Exhibit 99.1 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.

 

 

2

 

  

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:  June 12, 2024

 

 

 

 

SMITH-MIDLAND CORPORATION

 

 

 

 

 

 

By:

/s/ Stephanie Poe

 

 

 

Stephanie Poe

Chief Financial Officer

 

 

 

3

 

 EX-99.1 2 smid_ex991.htm PRESS RELEASE smid_ex991.htm

 

EXHIBIT 99.1

 

Smith-Midland Reports First Quarter 2024 Financial Results

 

Highest Quarterly Revenue of $16.8 Million; Backlog of $64.6 Million

 

MIDLAND, VA – June 11, 2024 – Smith-Midland Corporation (NASDAQ: SMID) a provider of innovative, high-quality proprietary and patented precast concrete products and systems today announced its first quarter results for the period ended March 31, 2024.

 

First Quarter 2024 Summary (compared to prior-year quarter)

 

 

·

 Revenue increased 30 percent to $16.8 million

 

·

 Product sales increased 30 percent to $10.8 million

 

·

 Service revenue increased 31 percent to $6.0 million

 

·

 Operating income of $1.5 million, compared to $54,000

 

·

 Net income of $1.1 million, or $0.22 and $0.21 per basic and diluted share, respectively, compared to $80,000 or $0.02 per basic and diluted share

 

·

 Started construction to double the size of its North Carolina plant

 

“We are off to a strong start in 2024, posting a 30 percent increase in revenue from the prior-year quarter and our highest quarterly revenue,” said Ashley Smith, Chairman and Chief Executive Officer of Smith-Midland. “The increase was primarily driven by increased production of our soundwall and utility products and increased shipping and installation. We are experiencing a strong demand for our utility vaults in response to the continued growth of data centers. Our prospects for the remainder of the year remain very favorable, thanks to the inflow of infrastructure funding expected in the latter half of 2024 at the state and local level, as well as our backlog. We remain well-positioned to deliver strong growth and create long-term value for our shareholders.”

 

First Quarter 2024 Results

 

The Company reported 2024 first quarter revenues of $16.8 million compared to revenues of $12.8 million in the first quarter of 2023. Product sales for the quarter were $10.8 million, a 30 percent increase from the prior-year quarter. Service revenue, which includes barrier rentals, royalty income and shipping and installation, increased 31 percent from the prior-year quarter to $6.0 million.

 

Gross profit increased to $3.9 million compared to $2.2 million in the prior year quarter due to the higher revenue base. Gross margin for the quarter improved by 480 basis points from the previous year’s quarter to 23%, due primarily to higher production volume and better fixed cost absorption.

 

Operating income for the quarter was $1.5 million compared to $54,000 in the prior-year quarter. Net income for the first quarter was $1.1 million, or $0.22 and $0.21 per basic and diluted share, respectively, compared to net income of $80,000, or $0.02 per basic and diluted share in the first quarter of 2023.

 

 
1

 

 

Product Sales

 

Total product sales for the first quarter of 2024 were $10.8 million compared to $8.2 million in the prior-year quarter. Soundwall sales were $3.0 million compared to $1.0 million in the first quarter of 2023. The increase is primarily related to higher production volumes, specifically at the North Carolina and South Carolina plants. Miscellaneous wall sales increased to $1.8 million from $1.2 million in the prior-year quarter due to increased production volumes at the Virginia and South Carolina plants. Utility product sales increase to $1.7 million for the first quarter of 2024 compared to $275,000 in the prior-year quarter. Barrier sales were $1.7 million compared to $2.8 million in the first quarter of 2023.

 

Service Revenue

 

Service revenue, which is comprised of royalty income, barrier rental revenue, and shipping and installation totaled $6.0 million, compared to $4.6 million in the first quarter of 2023. Shipping and installation revenue increased 48 percent from the previous year quarter to $4.5 million. The increase is mainly attributable to the shipping and installation of SlenderWall and architectural panels that were previously produced throughout 2023. Royalty income totaled $575,000 compared to  $411,000 in the first quarter of 2023, due to higher barrier production volumes by the Company’s licensees. Barrier rental revenue for the first quarter of 2024 was $893,000 compared to $1.1 million in the prior-year quarter due to a shift towards longer-term rental projects from short-term rental projects.

 

Balance Sheet and Liquidity

 

As of March 31, 2024, Smith-Midland's cash totaled $6.8 million compared to cash totaling $9.2 million at the end of 2023. Account receivables totaled $20.1 million and debt totaled $5.6 million as of March 31, 2024. Capital spending totaled $1.8 million for the first quarter of 2024.

 

Macro Environment and Outlook

 

The Company anticipates increased sales volume for the full year of 2024 compared to 2023. Infrastructure initiatives across the United States is expected to drive greater bidding activity and a subsequent increase in backlog for its portfolio of patented, proprietary, and custom products. Backlog was approximately $64.6 million as of May 2024 compared to $51.4 million in backlog one year prior. The majority of the backlog is anticipated to be fulfilled within 12 months; however, some projects will have a multi-year timeline. The Company remains focused on long-term strategic growth initiatives to drive shareholder value.

 

About Smith-Midland

 

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

 

Smith-Midland Corporation has three manufacturing facilities in: Midland, VA, Reidsville, NC, and Columbia, SC, and a J-J Hooks® Safety Barrier rental firm, Concrete Safety Systems. Easi-Set Worldwide, a wholly owned subsidiary of Smith-Midland Corporation, licenses the production and sale of Easi-Set products, including J-J Hooks and SlenderWall®, and provides diversification opportunities to the precast industry worldwide. For more information, please call (540) 439-3266 or visit www.smithmidland.com.

 

 
2

 

 

Forward-Looking Statements

 

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, our material weaknesses in internal controls, inflationary factors including potential recession, general business and economic conditions, our debt exposure, our high level of accounts receivables, 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.

 

Company Contact:

Stephanie Poe, CFO

540-439-3266

investors@smithmidland.com

 

Investor Relations:

Steven Hooser or John Beisler

Three Part Advisors, LLC

214-872-2710

 

 
3

 

 

Smith-Midland Corporation

and Subsidiaries

 

Condensed Consolidated Balance Sheets

(in thousands, except share and per share data) 

 

ASSETS

 

March 31, 2024

(Unaudited)

 

 

December 31,

2023

 

Current assets

 

 

 

 

 

 

Cash

 

 $ 6,801

 

 

 $ 9,175

 

Accounts receivable, net

 

 

 

 

 

 

 

 

       Trade - billed (less allowances of approximately $953 and $806, respectively), including contract retentions

 

 

 20,055

 

 

 

 17,209

 

Trade - unbilled

 

 

 637

 

 

 

 525

 

Inventories, net

 

 

 

 

 

 

 

 

Raw materials

 

 

 2,939

 

 

 

 2,329

 

Finished goods

 

 

 4,012

 

 

 

 2,821

 

Prepaid expenses

 

 

 1,246

 

 

 

 1,266

 

 

 

 

 

 

 

 

 

 

Total current assets

 

 

 35,690

 

 

 

 33,325

 

 

 

 

 

 

 

 

 

 

Property and equipment, net

 

 

 28,826

 

 

 

 27,680

 

 

 

 

 

 

 

 

 

 

Other assets

 

 

 337

 

 

 

 343

 

 

 

 

 

 

 

 

 

 

Total assets

 

 $ 64,853

 

 

 $ 61,348

 

 

The accompanying notes are an integral part of the condensed consolidated financial statements.

 

 
4

 

 

Smith-Midland Corporation

and Subsidiaries

 

Condensed Consolidated Balance Sheets

(in thousands, except share and per share data)

(continued)

 

LIABILITIES AND STOCKHOLDERS' EQUITY

 

March 31, 2024

(Unaudited)

 

 

December 31,

2023

 

Current liabilities

 

 

 

 

 

 

Accounts payable - trade

 

 $ 6,944

 

 

 $ 7,336

 

Accrued expenses and other liabilities

 

 

 1,900

 

 

 

 831

 

Deferred revenue

 

 

 3,217

 

 

 

 2,717

 

Accrued compensation

 

 

 871

 

 

 

 1,203

 

Accrued income taxes 

 

 

 831

 

 

 

 473

 

Operating lease liabilities

 

 

 34

 

 

 

 43

 

Current maturities of notes payable

 

 

 640

 

 

 

 636

 

Customer deposits

 

 

 2,950

 

 

 

 2,779

 

 

 

 

 

 

 

 

 

 

Total current liabilities

 

 

 17,387

 

 

 

 16,018

 

 

 

 

 

 

 

 

 

 

Deferred revenue

 

 

 5,572

 

 

 

 4,424

 

Operating lease liabilities 

 

 

 —

 

 

 

 2

 

Notes payable - less current maturities

 

 

 4,931

 

 

 

 5,092

 

Deferred tax liability

 

 

 1,650

 

 

 

 1,651

 

 

 

 

 

 

 

 

 

 

Total liabilities

 

 

 29,540

 

 

 

 27,187

 

 

 

 

 

 

 

 

 

 

Stockholders’ equity

 

 

 

 

 

 

 

 

Preferred stock, $.01 par value; authorized 1,000,000 shares, none issued and outstanding

 

 

 —

 

 

 

 —

 

Common stock, $.01 par value; authorized 8,000,000 shares; 5,349,599 and 5,349,599 issued and 5,308,679 and 5,308,679 outstanding, respectively

 

 

 54

 

 

 

 54

 

Additional paid-in capital

 

 

 7,819

 

 

 

 7,814

 

Treasury stock, at cost, 40,920 shares

 

 

 (102 )

 

 

 (102 )

Retained earnings

 

 

 27,542

 

 

 

 26,395

 

 

 

 

 

 

 

 

 

 

Total stockholders' equity

 

 

 35,313

 

 

 

 34,161

 

 

 

 

 

 

 

 

 

 

Total liabilities and stockholders' equity

 

 $ 64,853

 

 

 $ 61,348

 

 

The accompanying notes are an integral part of the condensed consolidated financial statements.

 

 
5

 

 

Smith-Midland Corporation

and Subsidiaries

 

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

 

 

 The accompanying notes are an integral part of the condensed consolidated financial statements.

 

 
6

 

 

Smith-Midland Corporation

and Subsidiaries

 

Condensed Consolidated Statements of Stockholders’ Equity

(unaudited)

(in thousands, except share data)

 

 

 

Common

Stock

 

 

Treasury

Stock

 

 

Additional

Paid-in

 

 

Retained

 

 

 

 

 

 

Shares

 

 

Amount

 

 

Shares

 

 

Amount

 

 

Capital

 

 

Earnings

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance, December 31, 2023

 

 

 5,349,599

 

 

 $ 54

 

 

 

 (40,920 )

 

 $ (102 )

 

 $ 7,814

 

 

 $ 26,395

 

 

 $ 34,161

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Restricted stock issued

 

 

 —

 

 

 

 —

 

 

 

 —

 

 

 

 —

 

 

 

 —

 

 

 

 —

 

 

 

 —

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Vesting of restricted stock

 

 

 —

 

 

 

 —

 

 

 

 —

 

 

 

 —

 

 

 

 5

 

 

 

 —

 

 

 

 5

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

 

 

 —

 

 

 

 —

 

 

 

 —

 

 

 

 —

 

 

 

 —

 

 

 

 1,147

 

 

 

 1,147

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance, March 31, 2024

 

 

 5,349,599

 

 

 $ 54

 

 

 

 (40,920 )

 

 $ (102 )

 

 $ 7,819

 

 

 $ 27,542

 

 

 $ 35,313

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance, December 31, 2022

 

 

 5,345,189

 

 

 $ 53

 

 

 

 (40,920 )

 

 $ (102 )

 

 $ 7,440

 

 

 $ 25,664

 

 

 $ 33,055

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Adoption of ASU 2016-13

 

 

 —

 

 

 

 —

 

 

 

 —

 

 

 

 —

 

 

 

 —

 

 

 

 (63 )

 

 

 (63 )

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Vesting of restricted stock

 

 

 —

 

 

 

 —

 

 

 

 —

 

 

 

 —

 

 

 

 85

 

 

 

 —

 

 

 

 85

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

 

 

 —

 

 

 

 —

 

 

 

 —

 

 

 

 —

 

 

 

 —

 

 

 

 80

 

 

 

 80

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance, March 31, 2023

 

 

 5,345,189

 

 

 $ 53

 

 

 

 (40,920 )

 

 $ (102 )

 

 $ 7,525

 

 

 $ 25,681

 

 

 $ 33,157

 

 

  The accompanying notes are an integral part of the condensed consolidated financial statements.

 

 
7

 

 

Smith-Midland Corporation

and Subsidiaries

 

Condensed Consolidated Statements of Cash Flows

(Unaudited)

(in thousands)

 

 

 

Three Months Ended

March 31,

 

 

 

2024

 

 

2023

 

Cash flows from operating activities:

 

 

 

 

 

 

Net income (loss)

 

 $ 1,147

 

 

 $ 80

 

Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:

 

 

 

 

 

 

 

 

Depreciation and amortization

 

 

 641

 

 

 

 594

 

(Gain) loss on sale of property and equipment

 

 

 (352 )

 

 

 (82 )

Allowance for credit losses

 

 

 147

 

 

 

 92

 

Stock compensation

 

 

 5

 

 

 

 85

 

Deferred taxes

 

 

 (1 )

 

 

 1

 

(Increase) decrease in

 

 

 

 

 

 

 

 

Accounts receivable - billed

 

 

 (2,993 )

 

 

 (1,800 )

Accounts receivable - unbilled

 

 

 (112 )

 

 

 (1,544 )

Inventories

 

 

 (1,801 )

 

 

 (1,173 )

Prepaid expenses

 

 

 20

 

 

 

 (70 )

Refundable income taxes

 

 

 —

 

 

 

 2

 

Increase (decrease) in

 

 

 

 

 

 

 

 

Accounts payable - trade

 

 

 (392 )

 

 

 624

 

Accrued expenses and other liabilities

 

 

 1,069

 

 

 

 (54 )

Deferred revenue

 

 

 1,648

 

 

 

 59

 

Accrued compensation

 

 

 (332 )

 

 

 (148 )

Accrued income taxes 

 

 

 358

 

 

 

 22

 

Customer deposits

 

 

 171

 

 

 

 1,757

 

Net cash provided by (used in) operating activities

 

 

 (777 )

 

 

 (1,555 )

Cash flows from investing activities:

 

 

 

 

 

 

 

 

Purchases of property and equipment

 

 

 (1,795 )

 

 

 (1,164 )

Proceeds from the sale of property and equipment

 

 

 355

 

 

 

 82

 

Net cash provided by (used in) investing activities

 

 

 (1,440 )

 

 

 (1,082 )

Cash flows from financing activities:

 

 

 

 

 

 

 

 

Repayments of long-term borrowings

 

 

 (157 )

 

 

 (153 )

Net cash provided by (used in) financing activities

 

 

 (157 )

 

 

 (153 )

Net increase (decrease) in cash

 

 

 (2,374 )

 

 

 (2,790 )

Cash

 

 

 

 

 

 

 

 

Beginning of period

 

 

 9,175

 

 

 

 6,726

 

End of period

 

 $ 6,801

 

 

 $ 3,936

 

 

 

 

 

 

 

 

 

 

Supplemental Cash Flow Information: 

 

 

 

 

 

 

 

 

Cash payments for interest 

 

 $ 60

 

 

 $ 64

 

Cash payments for income taxes 

 

 $ —

 

 

 $ —

 

 

 

 

 

 

 

 

 

 

Non-Cash Investing Activity:

 

 

 

 

 

 

 

 

Capital expenditures in accounts payable

 

 $ 2,099

 

 

 $ 2,052

 

 

The accompanying notes are an integral part of the condensed consolidated financial statements.

 

 
8

 EX-101.SCH 3 smid-20240611.xsd XBRL TAXONOMY EXTENSION SCHEMA 000001 - Document - Cover link:presentationLink link:calculationLink link:definitionLink EX-101.LAB 4 smid-20240611_lab.xml XBRL TAXONOMY EXTENSION LABEL LINKBASE Cover [Abstract] Entity Registrant Name Entity Central Index Key Document Type Amendment Flag Entity Emerging Growth Company Document Period End Date Entity File Number Entity Incorporation State Country Code Entity Tax Identification Number Entity Address Address Line 1 Entity Address Address Line 2 Entity Address City Or Town Entity Address State Or Province Entity Address Postal Zip Code City Area Code Local Phone Number Security 12b Title Trading Symbol Security Exchange Name Written Communications Soliciting Material Pre Commencement Tender Offer Pre Commencement Issuer Tender Offer EX-101.CAL 5 smid-20240611_cal.xml XBRL TAXONOMY EXTENSION CALCULATION LINKBASE EX-101.PRE 6 smid-20240611_pre.xml XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE EX-101.DEF 7 smid-20240611_def.xml XBRL TAXONOMY EXTENSION DEFINITION LINKBASE XML 9 R1.htm IDEA: XBRL DOCUMENT v3.24.1.1.u2
Cover
Jun. 11, 2024
Cover [Abstract]  
Entity Registrant Name SMITH-MIDLAND CORPORATION
Entity Central Index Key 0000924719
Document Type 8-K
Amendment Flag false
Entity Emerging Growth Company false
Document Period End Date Jun. 11, 2024
Entity File Number 1-13752
Entity Incorporation State Country Code DE
Entity Tax Identification Number 54-1727060
Entity Address Address Line 1 P.O. Box 300
Entity Address Address Line 2 5119 Catlett Road
Entity Address City Or Town Midland
Entity Address State Or Province VA
Entity Address Postal Zip Code 22728
City Area Code 540
Local Phone Number 439-3266
Security 12b Title Common Stock, $0.01 par value per share
Trading Symbol SMID
Security Exchange Name NASDAQ
Written Communications false
Soliciting Material false
Pre Commencement Tender Offer false
Pre Commencement Issuer Tender Offer false
EXCEL 10 Financial_Report.xlsx IDEA: XBRL DOCUMENT begin 644 Financial_Report.xlsx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how.js IDEA: XBRL DOCUMENT // Edgar(tm) Renderer was created by staff of the U.S. Securities and Exchange Commission. Data and content created by government employees within the scope of their employment are not subject to domestic copyright protection. 17 U.S.C. 105. var Show={};Show.LastAR=null,Show.showAR=function(a,r,w){if(Show.LastAR)Show.hideAR();var e=a;while(e&&e.nodeName!='TABLE')e=e.nextSibling;if(!e||e.nodeName!='TABLE'){var ref=((window)?w.document:document).getElementById(r);if(ref){e=ref.cloneNode(!0); e.removeAttribute('id');a.parentNode.appendChild(e)}} if(e)e.style.display='block';Show.LastAR=e};Show.hideAR=function(){Show.LastAR.style.display='none'};Show.toggleNext=function(a){var e=a;while(e.nodeName!='DIV')e=e.nextSibling;if(!e.style){}else if(!e.style.display){}else{var d,p_;if(e.style.display=='none'){d='block';p='-'}else{d='none';p='+'} e.style.display=d;if(a.textContent){a.textContent=p+a.textContent.substring(1)}else{a.innerText=p+a.innerText.substring(1)}}} XML 12 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; white-space: normal; /* word-wrap: break-word; */ } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; overflow: hidden; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } XML 14 FilingSummary.xml IDEA: XBRL DOCUMENT 3.24.1.1.u2 html 1 23 1 false 0 0 false 3 false false R1.htm 000001 - Document - Cover Sheet http://smid.com/role/Cover Cover Cover 1 false false All Reports Book All Reports smid-20240611.xsd smid-20240611_cal.xml smid-20240611_def.xml smid-20240611_lab.xml smid-20240611_pre.xml smid_8k.htm http://xbrl.sec.gov/dei/2023 true true JSON 16 MetaLinks.json IDEA: XBRL DOCUMENT { "version": "2.2", "instance": { "smid_8k.htm": { "nsprefix": "smid", "nsuri": "http://smid.com/20240611", "dts": { "schema": { "local": [ "smid-20240611.xsd" ], "remote": [ "http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd", "http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd", "http://www.xbrl.org/2003/xl-2003-12-31.xsd", "http://www.xbrl.org/2003/xlink-2003-12-31.xsd", "http://www.xbrl.org/2005/xbrldt-2005.xsd", "http://www.xbrl.org/2006/ref-2006-02-27.xsd", "http://www.xbrl.org/dtr/type/nonNumeric-2009-12-16.xsd", "http://www.xbrl.org/dtr/type/numeric-2009-12-16.xsd", "http://www.xbrl.org/lrr/arcrole/factExplanatory-2009-12-16.xsd", "http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd", "http://www.xbrl.org/lrr/role/net-2009-12-16.xsd", "https://www.xbrl.org/2020/extensible-enumerations-2.0.xsd", "https://www.xbrl.org/dtr/type/2020-01-21/types.xsd", "https://www.xbrl.org/dtr/type/2022-03-31/types.xsd", "https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd", "https://xbrl.fasb.org/srt/2023/elts/srt-roles-2023.xsd", "https://xbrl.fasb.org/srt/2023/elts/srt-types-2023.xsd", "https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd", "https://xbrl.fasb.org/us-gaap/2023/elts/us-roles-2023.xsd", "https://xbrl.fasb.org/us-gaap/2023/elts/us-types-2023.xsd", "https://xbrl.sec.gov/country/2023/country-2023.xsd", "https://xbrl.sec.gov/currency/2023/currency-2023.xsd", "https://xbrl.sec.gov/dei/2023/dei-2023.xsd", "https://xbrl.sec.gov/exch/2023/exch-2023.xsd", "https://xbrl.sec.gov/naics/2023/naics-2023.xsd", "https://xbrl.sec.gov/sic/2023/sic-2023.xsd", "https://xbrl.sec.gov/stpr/2023/stpr-2023.xsd" ] }, "calculationLink": { "local": [ "smid-20240611_cal.xml" ] }, "definitionLink": { "local": [ "smid-20240611_def.xml" ] }, "labelLink": { "local": [ "smid-20240611_lab.xml" ] }, "presentationLink": { "local": [ "smid-20240611_pre.xml" ] }, "inline": { "local": [ "smid_8k.htm" ] } }, "keyStandard": 23, "keyCustom": 0, "axisStandard": 0, "axisCustom": 0, "memberStandard": 0, "memberCustom": 0, "hidden": { "total": 2, "http://xbrl.sec.gov/dei/2023": 2 }, "contextCount": 1, "entityCount": 1, "segmentCount": 0, "elementCount": 24, "unitCount": 3, "baseTaxonomies": { "http://xbrl.sec.gov/dei/2023": 23 }, "report": { "R1": { "role": "http://smid.com/role/Cover", "longName": "000001 - Document - Cover", "shortName": "Cover", "isDefault": "true", "groupType": "document", "subGroupType": "", "menuCat": "Cover", "order": "1", "firstAnchor": { "contextRef": "From2024-06-11to2024-06-11", "name": "dei:EntityRegistrantName", "unitRef": null, "xsiNil": "false", "lang": "en-US", "decimals": null, "ancestors": [ "span", "strong", "p", "td", "tr", "tbody", "table", "body", "html" ], "reportCount": 1, "baseRef": "smid_8k.htm", "first": true, "unique": true }, "uniqueAnchor": { "contextRef": "From2024-06-11to2024-06-11", "name": "dei:EntityRegistrantName", "unitRef": null, "xsiNil": "false", "lang": "en-US", "decimals": null, "ancestors": [ "span", "strong", "p", "td", "tr", "tbody", "table", "body", "html" ], "reportCount": 1, "baseRef": "smid_8k.htm", "first": true, "unique": true } } }, "tag": { "dei_AmendmentFlag": { "xbrltype": "booleanItemType", "nsuri": "http://xbrl.sec.gov/dei/2023", "localname": "AmendmentFlag", "presentation": [ "http://smid.com/role/Cover" ], "lang": { "en-us": { "role": { "label": "Amendment Flag", "documentation": "Boolean flag that is true when the XBRL content amends previously-filed or accepted submission." } } }, "auth_ref": [] }, "dei_CityAreaCode": { "xbrltype": "normalizedStringItemType", "nsuri": "http://xbrl.sec.gov/dei/2023", "localname": "CityAreaCode", "presentation": [ "http://smid.com/role/Cover" ], "lang": { "en-us": { "role": { "label": "City Area Code", "documentation": "Area code of city" } } }, "auth_ref": [] }, "dei_CoverAbstract": { "xbrltype": "stringItemType", "nsuri": "http://xbrl.sec.gov/dei/2023", "localname": "CoverAbstract", "lang": { "en-us": { "role": { "label": "Cover [Abstract]", "documentation": "Cover page." } } }, "auth_ref": [] }, "dei_DocumentPeriodEndDate": { "xbrltype": "dateItemType", "nsuri": "http://xbrl.sec.gov/dei/2023", "localname": "DocumentPeriodEndDate", "presentation": [ "http://smid.com/role/Cover" ], "lang": { "en-us": { "role": { "label": "Document Period End Date", "documentation": "For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD." } } }, "auth_ref": [] }, "dei_DocumentType": { "xbrltype": "submissionTypeItemType", "nsuri": "http://xbrl.sec.gov/dei/2023", "localname": "DocumentType", "presentation": [ "http://smid.com/role/Cover" ], "lang": { "en-us": { "role": { "label": "Document Type", "documentation": "The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'." } } }, "auth_ref": [] }, "dei_EntityAddressAddressLine1": { "xbrltype": "normalizedStringItemType", "nsuri": "http://xbrl.sec.gov/dei/2023", "localname": "EntityAddressAddressLine1", "presentation": [ "http://smid.com/role/Cover" ], "lang": { "en-us": { "role": { "label": "Entity Address Address Line 1", "documentation": "Address Line 1 such as Attn, Building Name, Street Name" } } }, "auth_ref": [] }, "dei_EntityAddressAddressLine2": { "xbrltype": "normalizedStringItemType", "nsuri": "http://xbrl.sec.gov/dei/2023", "localname": "EntityAddressAddressLine2", "presentation": [ "http://smid.com/role/Cover" ], "lang": { "en-us": { "role": { "label": "Entity Address Address Line 2", "documentation": "Address Line 2 such as Street or Suite number" } } }, "auth_ref": [] }, "dei_EntityAddressCityOrTown": { "xbrltype": "normalizedStringItemType", "nsuri": "http://xbrl.sec.gov/dei/2023", "localname": "EntityAddressCityOrTown", "presentation": [ "http://smid.com/role/Cover" ], "lang": { "en-us": { "role": { "label": "Entity Address City Or Town", "documentation": "Name of the City or Town" } } }, "auth_ref": [] }, "dei_EntityAddressPostalZipCode": { "xbrltype": "normalizedStringItemType", "nsuri": "http://xbrl.sec.gov/dei/2023", "localname": "EntityAddressPostalZipCode", "presentation": [ "http://smid.com/role/Cover" ], "lang": { "en-us": { "role": { "label": "Entity Address Postal Zip Code", "documentation": "Code for the postal or zip code" } } }, "auth_ref": [] }, "dei_EntityAddressStateOrProvince": { "xbrltype": "stateOrProvinceItemType", "nsuri": "http://xbrl.sec.gov/dei/2023", "localname": "EntityAddressStateOrProvince", "presentation": [ "http://smid.com/role/Cover" ], "lang": { "en-us": { "role": { "label": "Entity Address State Or Province", "documentation": "Name of the state or province." } } }, "auth_ref": [] }, "dei_EntityCentralIndexKey": { "xbrltype": "centralIndexKeyItemType", "nsuri": "http://xbrl.sec.gov/dei/2023", "localname": "EntityCentralIndexKey", "presentation": [ "http://smid.com/role/Cover" ], "lang": { "en-us": { "role": { "label": "Entity Central Index Key", "documentation": "A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK." } } }, "auth_ref": [ "r1" ] }, "dei_EntityEmergingGrowthCompany": { "xbrltype": "booleanItemType", "nsuri": "http://xbrl.sec.gov/dei/2023", "localname": "EntityEmergingGrowthCompany", "presentation": [ "http://smid.com/role/Cover" ], "lang": { "en-us": { "role": { "label": "Entity Emerging Growth Company", "documentation": "Indicate if registrant meets the emerging growth company criteria." } } }, "auth_ref": [ "r1" ] }, "dei_EntityFileNumber": { "xbrltype": "fileNumberItemType", "nsuri": "http://xbrl.sec.gov/dei/2023", "localname": "EntityFileNumber", "presentation": [ "http://smid.com/role/Cover" ], "lang": { "en-us": { "role": { "label": "Entity File Number", "documentation": "Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen." } } }, "auth_ref": [] }, "dei_EntityIncorporationStateCountryCode": { "xbrltype": "edgarStateCountryItemType", "nsuri": "http://xbrl.sec.gov/dei/2023", "localname": "EntityIncorporationStateCountryCode", "presentation": [ "http://smid.com/role/Cover" ], "lang": { "en-us": { "role": { "label": "Entity Incorporation State Country Code", "documentation": "Two-character EDGAR code representing the state or country of incorporation." } } }, "auth_ref": [] }, "dei_EntityRegistrantName": { "xbrltype": "normalizedStringItemType", "nsuri": "http://xbrl.sec.gov/dei/2023", "localname": "EntityRegistrantName", "presentation": [ "http://smid.com/role/Cover" ], "lang": { "en-us": { "role": { "label": "Entity Registrant Name", "documentation": "The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC." } } }, "auth_ref": [ "r1" ] }, "dei_EntityTaxIdentificationNumber": { "xbrltype": "employerIdItemType", "nsuri": "http://xbrl.sec.gov/dei/2023", "localname": "EntityTaxIdentificationNumber", "presentation": [ "http://smid.com/role/Cover" ], "lang": { "en-us": { "role": { "label": "Entity Tax Identification Number", "documentation": "The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS." } } }, "auth_ref": [ "r1" ] }, "dei_LocalPhoneNumber": { "xbrltype": "normalizedStringItemType", "nsuri": "http://xbrl.sec.gov/dei/2023", "localname": "LocalPhoneNumber", "presentation": [ "http://smid.com/role/Cover" ], "lang": { "en-us": { "role": { "label": "Local Phone Number", "documentation": "Local phone number for entity." } } }, "auth_ref": [] }, "dei_PreCommencementIssuerTenderOffer": { "xbrltype": "booleanItemType", "nsuri": "http://xbrl.sec.gov/dei/2023", "localname": "PreCommencementIssuerTenderOffer", "presentation": [ "http://smid.com/role/Cover" ], "lang": { "en-us": { "role": { "label": "Pre Commencement Issuer Tender Offer", "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act." } } }, "auth_ref": [ "r3" ] }, "dei_PreCommencementTenderOffer": { "xbrltype": "booleanItemType", "nsuri": "http://xbrl.sec.gov/dei/2023", "localname": "PreCommencementTenderOffer", "presentation": [ "http://smid.com/role/Cover" ], "lang": { "en-us": { "role": { "label": "Pre Commencement Tender Offer", "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act." } } }, "auth_ref": [ "r4" ] }, "dei_Security12bTitle": { "xbrltype": "securityTitleItemType", "nsuri": "http://xbrl.sec.gov/dei/2023", "localname": "Security12bTitle", "presentation": [ "http://smid.com/role/Cover" ], "lang": { "en-us": { "role": { "label": "Security 12b Title", "documentation": "Title of a 12(b) registered security." } } }, "auth_ref": [ "r0" ] }, "dei_SecurityExchangeName": { "xbrltype": "edgarExchangeCodeItemType", "nsuri": "http://xbrl.sec.gov/dei/2023", "localname": "SecurityExchangeName", "presentation": [ "http://smid.com/role/Cover" ], "lang": { "en-us": { "role": { "label": "Security Exchange Name", "documentation": "Name of the Exchange on which a security is registered." } } }, "auth_ref": [ "r2" ] }, "dei_SolicitingMaterial": { "xbrltype": "booleanItemType", "nsuri": "http://xbrl.sec.gov/dei/2023", "localname": "SolicitingMaterial", "presentation": [ "http://smid.com/role/Cover" ], "lang": { "en-us": { "role": { "label": "Soliciting Material", "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act." } } }, "auth_ref": [ "r5" ] }, "dei_TradingSymbol": { "xbrltype": "tradingSymbolItemType", "nsuri": "http://xbrl.sec.gov/dei/2023", "localname": "TradingSymbol", "presentation": [ "http://smid.com/role/Cover" ], "lang": { "en-us": { "role": { "label": "Trading Symbol", "documentation": "Trading symbol of an instrument as listed on an exchange." } } }, "auth_ref": [] }, "dei_WrittenCommunications": { "xbrltype": "booleanItemType", "nsuri": "http://xbrl.sec.gov/dei/2023", "localname": "WrittenCommunications", "presentation": [ "http://smid.com/role/Cover" ], "lang": { "en-us": { "role": { "label": "Written Communications", "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act." } } }, "auth_ref": [ "r6" ] } } } }, "std_ref": { "r0": { "role": "http://www.xbrl.org/2003/role/presentationRef", "Publisher": "SEC", "Name": "Exchange Act", "Number": "240", "Section": "12", "Subsection": "b" }, "r1": { "role": "http://www.xbrl.org/2003/role/presentationRef", "Publisher": "SEC", "Name": "Exchange Act", "Number": "240", "Section": "12", "Subsection": "b-2" }, "r2": { "role": "http://www.xbrl.org/2003/role/presentationRef", "Publisher": "SEC", "Name": "Exchange Act", "Number": "240", "Section": "12", "Subsection": "d1-1" }, "r3": { "role": "http://www.xbrl.org/2003/role/presentationRef", "Publisher": "SEC", "Name": "Exchange Act", "Number": "240", "Section": "13e", "Subsection": "4c" }, "r4": { "role": "http://www.xbrl.org/2003/role/presentationRef", "Publisher": "SEC", "Name": "Exchange Act", "Number": "240", "Section": "14d", "Subsection": "2b" }, "r5": { "role": "http://www.xbrl.org/2003/role/presentationRef", "Publisher": "SEC", "Name": "Exchange Act", "Section": "14a", "Number": "240", "Subsection": "12" }, "r6": { "role": "http://www.xbrl.org/2003/role/presentationRef", "Publisher": "SEC", "Name": "Securities Act", "Number": "230", "Section": "425" } } } ZIP 17 0001654954-24-007630-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0001654954-24-007630-xbrl.zip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end XML 19 smid_8k_htm.xml IDEA: XBRL DOCUMENT 0000924719 2024-06-11 2024-06-11 iso4217:USD shares iso4217:USD shares 0000924719 false 8-K 2024-06-11 SMITH-MIDLAND CORPORATION DE 1-13752 54-1727060 P.O. Box 300 5119 Catlett Road Midland VA 22728 540 439-3266 false false false false Common Stock, $0.01 par value per share SMID NASDAQ false