SMIT (Schmitt Inds)likely to post 400% earnings gain YoY Message Board

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Technology Stocks : SMIT (Schmitt Inds)likely to post 400% earnings gain YoY

SMIT 0.0155

+3.3%

Oct 14 2:00 PM EST

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To: jackson who wrote (158)	4/3/1997 1:48:00 PM
From: Michael Greene	of 276

>>Not sure why the taxes increased to such an astronomical figure???? Anyone have any ideas???? The taxes for this quarter are normal for a corporation, 37%. The earlier quarter was taxed very lowly because of tax loss carryforwards that came with the purchase of the company which became the Schmitt Measurement Division. The next three quarters will suffer from the same comparisons of low taxes versus full taxes. What surprised me was the reaction of the stock when the quarterly revenue was anounced at the beginning of March and again when the earnings were just announced. The revenue was a disapointment in what I expected for a ramp up this year yet the stock went up a point on the news. Now when the earnings are announced it drops a point. Yet the pretax earnings growth, without the non-recurring $60,000 charge associated with the Hofmann acquisition, was right in line with the 57% revenue growth. The tax effect on net should not have been a surprise to anyone following this company. I supose that the very thin trading of this stock can be expected to result in some unusual moves. Michael

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