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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: Brian Meath who wrote (25)6/1/1996 4:17:00 PM
From:    of 276
 
TO ALL,

LOOK FOR THIS ON MONDAY PRESS.

Schmitt Indus. Sees Yr Net 20c/Shr Vs 7c

PORTLAND, Ore. (Dow Jones)--Schmitt Industries Inc. (SMIT) expects to report that net
income for the year ended today rose to 20 cents a share from 7 cents a year earlier on a 60%
rise in sales.

In a press release, the company said it expects fiscal 1997 net income to reach 40 cents a share
on sales of $12 million.

For fiscal 1996, Schmitt's sales rose to $7.1 million from $4.4 million a year ago. The company
said it expects to report earnings for the current fiscal year in mid-July.

Schmitt also said it signed an agreement for McDonald Douglas Corp.'s (MD) helicopter division
to field test Schmitt's precision roll, pitch and yaw bore sight laser alignment system. The company
said it received a patent for the technology in April and will market it in fiscal 1997.

Schmitt will also form Schmitt Europe Ltd., a unit in the U.K. that will commence operations on
June 3. The unit will handle sales and service of all Schmitt laser measurement and alignment
products and SBS Balancer products in collaboration with Movomatic, a European marketing and
manufacturing company.

Schmitt Industries designs, assembles and markets computer-controlled balancing equipment and
laser-based precision measurement equipment.

ravi
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