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: Michael A. Johnson who wrote (138)	2/3/1997 6:03:00 PM
From: Brian Meath	of 276

Michael: Glad to hear you were able to meet with Johnny at the conference. I'd be interested to hear his current projections (I'm getting my copies of RCR a little late now, since I shared a copy with guys at work, and I've since been transferred). Johnny has whipsawed around a little, getting burned by being overly optimistic for first qtr (end August), then being shy and missing the upside this last qtr. He estimated five cents and actual came in at ten. I would anticipate another ten cents this quarter, despite the fact that they're incurring expenses related to the Hoffman acquisition this qtr. A last note on the size of the company - people should keep in mind that SMIT is primarily an R&D and assembly shop, they don't manufacturer a large portion of the components they use, they subcontract out for them. This enables Wayne to focus a small group on the highest value added projects, and is the reason that he will not pursue any new product line that can not have at least a 65% gross profit margin. The measurement business is currently running at a gross margin of between 70 - 75%.

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