SCHMITT INDUSTRIES, INC. (NASDAQ:SMIT) Files An 8-K Other Events
Item8.01
| Other Events. |
On January6, 2017, Schmitt Industries, Inc. issued a press
release entitled Schmitt Industries, Inc. Announces Appointment
of the Chairman of the Board of Directors. A copy of the press
release is furnished as Exhibit 99.1 to this report.
Item9.01 |
Financial Statements and Exhibits. |
(d) Exhibits
| 99.1 |
Press release entitled Schmitt Industries, Inc. Announces Appointment of the Chairman of the Board of Directors. |
Forward Looking Statements
Certain statements in this release may be forward-looking
statements. These statements are based upon current expectations,
estimates and projections about the Companys business that are
based, in part, on assumptions made by management. These
statements are not guarantees of future performance and involve
risks and uncertainties that are difficult to predict. Actual
outcomes and results may differ materially from what is expressed
or forecasted in such forward-looking statements due to numerous
factors, including, but not limited to, general economic
conditions and global financial concerns, the volatility of the
Companys primary markets, efforts to accelerate growth in sales
of the Xact tank monitoring systems and the ability to satisfy
expected demand, the ability to develop new products to satisfy
changes in consumer demands, the intensity of competition, the
effect on production time and overall costs of products if any of
our primary suppliers are lost or if a primary supplier increases
the prices of raw materials or components, the ability to ramp up
manufacturing to satisfy increasing demand, maintenance of a
significant investment in inventories in anticipation of future
sales, existing cash levels which may not be sufficient to fund
future growth, the ability to obtain financing if needed to fund
operations or growth through commercial loans or capital fund
raising at terms acceptable to the Company and its shareholders,
fluctuations in quarterly and annual operating results,
attracting and retaining key management and qualified technical
and sales personnel, changes in effective tax rates, the ability
to reduce operating costs if sales decline, increased costs due
to changes in securities laws and regulations, protection of
intellectual property rights, and risks from international sales
and currency fluctuations.
For further information regarding risks and uncertainties
associated with the Companys business, please refer to Schmitts
SEC filings, including, but not limited to, its Forms 10-K, 10-Q
and 8-K.
The forward-looking statements in this release speak only as of
the date on which they were made, and the Company does not
undertake any obligation to update any forward-looking statement
to reflect events or circumstances after the date of this
release, or for changes to this document made by wire services or
internet service providers.
About SCHMITT INDUSTRIES, INC. (NASDAQ:SMIT)
Schmitt Industries, Inc. designs, manufactures and sells test and measurement products for two main business segments: the Balancer segment and the Measurement segment. The Company operates through two segments: the design and assembly of dynamic balancing systems and components for the machine tool industry (Balancer), and the design and assembly of laser-based test and measurement systems (Measurement). For the Balancer segment, it designs, manufactures and sells computer-controlled vibration detection, balancing and process control systems for the machine tool industry. Under the Measurement segment, the Company through its subsidiary, Schmitt Measurement Systems, Inc., designs, manufactures and sells laser and white light sensors, laser-based micro roughness measurement products, laser-based surface analysis and measurement products, and ultrasonic measurement products. The Company provides sales and service for Europe and Asia through its subsidiary, Schmitt Europe Limited. SCHMITT INDUSTRIES, INC. (NASDAQ:SMIT) Recent Trading Information
SCHMITT INDUSTRIES, INC. (NASDAQ:SMIT) closed its last trading session down -0.06 at 1.67 with 22,117 shares trading hands.