$SMID
SMITH MIDLAND CORP

2013 Q2 Form 10-Q Financial Statement

#000092471913000016 Filed on August 15, 2013

View on sec.gov

Income Statement

Concept 2013 Q2 2012 Q2
Revenue $6.135M $6.637M
YoY Change -7.57% -7.11%
Cost Of Revenue $5.082M $4.721M
YoY Change 7.66% -12.46%
Gross Profit $1.052M $1.917M
YoY Change -45.1% 9.37%
Gross Profit Margin 17.15% 28.88%
Selling, General & Admin $1.439M $1.176M
YoY Change 22.44% -13.55%
% of Gross Profit 136.8% 61.34%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $170.0K $180.0K
YoY Change -5.56% 5.88%
% of Gross Profit 16.16% 9.39%
Operating Expenses $1.439M $1.176M
YoY Change 22.44% -13.55%
Operating Profit -$350.5K $726.8K
YoY Change -148.23% 67.7%
Interest Expense $26.79K $32.80K
YoY Change -18.31% -12.64%
% of Operating Profit 4.51%
Other Income/Expense, Net
YoY Change
Pretax Income -$376.9K $695.5K
YoY Change -154.19% 74.08%
Income Tax -$154.0K $272.0K
% Of Pretax Income 39.11%
Net Earnings -$222.9K $423.5K
YoY Change -152.63% 66.39%
Net Earnings / Revenue -3.63% 6.38%
Basic Earnings Per Share -$0.05 $0.09
Diluted Earnings Per Share -$0.05 $0.09
COMMON SHARES
Basic Shares Outstanding 4.829M shares 4.826M shares
Diluted Shares Outstanding 4.829M shares 4.851M shares

Balance Sheet

Concept 2013 Q2 2012 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.230M $2.860M
YoY Change 12.94% -19.44%
Cash & Equivalents $1.293M $2.861M
Short-Term Investments $1.930M
Other Short-Term Assets $650.0K $760.0K
YoY Change -14.47% 31.03%
Inventory $1.980M $1.710M
Prepaid Expenses
Receivables $7.308M $6.421M
Other Receivables $90.00K $210.0K
Total Short-Term Assets $13.26M $12.39M
YoY Change 7.03% -6.57%
LONG-TERM ASSETS
Property, Plant & Equipment $3.963M $4.266M
YoY Change -7.11% -6.19%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $293.5K $287.2K
YoY Change 2.19% 44.75%
Total Long-Term Assets $4.256M $4.553M
YoY Change -6.52% -4.06%
TOTAL ASSETS
Total Short-Term Assets $13.26M $12.39M
Total Long-Term Assets $4.256M $4.553M
Total Assets $17.51M $16.94M
YoY Change 3.39% -5.91%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.196M $978.7K
YoY Change 22.16% -30.4%
Accrued Expenses $1.153M $752.6K
YoY Change 53.26% -5.7%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $330.0K $360.0K
YoY Change -8.33% -20.0%
Total Short-Term Liabilities $3.430M $2.243M
YoY Change 52.91% -16.14%
LONG-TERM LIABILITIES
Long-Term Debt $2.530M $2.830M
YoY Change -10.6% -10.16%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $2.530M $2.830M
YoY Change -10.6% -10.16%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.430M $2.243M
Total Long-Term Liabilities $2.530M $2.830M
Total Liabilities $6.605M $5.913M
YoY Change 11.7% -8.74%
SHAREHOLDERS EQUITY
Retained Earnings $6.017M $6.085M
YoY Change -1.11% -7.56%
Common Stock $48.36K $48.26K
YoY Change 0.2% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $102.3K $102.3K
YoY Change 0.0% 0.0%
Treasury Stock Shares 40.92K shares 40.92K shares
Shareholders Equity $10.91M $11.03M
YoY Change
Total Liabilities & Shareholders Equity $17.51M $16.94M
YoY Change 3.39% -5.91%

Cashflow Statement

Concept 2013 Q2 2012 Q2
OPERATING ACTIVITIES
Net Income -$222.9K $423.5K
YoY Change -152.63% 66.39%
Depreciation, Depletion And Amortization $170.0K $180.0K
YoY Change -5.56% 5.88%
Cash From Operating Activities -$430.0K $80.00K
YoY Change -637.5% -91.3%
INVESTING ACTIVITIES
Capital Expenditures -$140.0K $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities $20.00K -$10.00K
YoY Change -300.0% -150.0%
Cash From Investing Activities -$110.0K -$10.00K
YoY Change 1000.0% -75.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -80.00K -110.0K
YoY Change -27.27% -118.64%
NET CHANGE
Cash From Operating Activities -430.0K 80.00K
Cash From Investing Activities -110.0K -10.00K
Cash From Financing Activities -80.00K -110.0K
Net Change In Cash -620.0K -40.00K
YoY Change 1450.0% -102.72%
FREE CASH FLOW
Cash From Operating Activities -$430.0K $80.00K
Capital Expenditures -$140.0K $0.00
Free Cash Flow -$290.0K $80.00K
YoY Change -462.5% -91.84%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2013Q2 us-gaap Accounts Payable Current
AccountsPayableCurrent
1195632 USD
CY2012Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
922091 USD
CY2012Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
4752729 USD
CY2013Q2 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
7308078 USD
CY2012Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1140234 USD
CY2013Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1153429 USD
CY2012Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
0 USD
CY2013Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-59005 USD
CY2012Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
4995278 USD
CY2013Q2 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
5003612 USD
CY2013Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
241275 USD
CY2012Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
230749 USD
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
254166 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
254166 shares
CY2012Q4 us-gaap Assets
Assets
16817804 USD
CY2013Q2 us-gaap Assets
Assets
17512394 USD
CY2012Q4 us-gaap Assets Current
AssetsCurrent
12478991 USD
CY2013Q2 us-gaap Assets Current
AssetsCurrent
13256330 USD
CY2012Q4 us-gaap Available For Sale Securities
AvailableForSaleSecurities
0 USD
CY2013Q2 us-gaap Available For Sale Securities
AvailableForSaleSecurities
1932751 USD
CY2012Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
4367474 USD
CY2013Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1292784 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
729897 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-3074690 USD
CY2011Q4 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
2130686 USD
CY2012Q2 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
2860583 USD
CY2012Q4 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
4367474 USD
CY2013Q2 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
1292784 USD
CY2013Q2 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
CY2012Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
0 USD
CY2013Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2012Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
357918 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
332040 USD
CY2013Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
8000000 shares
CY2012Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
8000000 shares
CY2013Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
4835882 shares
CY2012Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
4835882 shares
CY2012Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
4835882 shares
CY2013Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
4835882 shares
CY2013Q2 us-gaap Common Stock Value
CommonStockValue
48359 USD
CY2012Q4 us-gaap Common Stock Value
CommonStockValue
48262 USD
CY2013Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-275542 USD
CY2012Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
423537 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
296162 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
27151 USD
CY2012Q2 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
4720545 USD
CY2013Q2 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
5082325 USD
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
10160197 USD
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
9750349 USD
CY2012Q4 us-gaap Customer Advances And Deposits
CustomerAdvancesAndDeposits
204991 USD
CY2013Q2 us-gaap Customer Advances And Deposits
CustomerAdvancesAndDeposits
746408 USD
CY2013Q2 us-gaap Deferred Tax Assets Net Current
DeferredTaxAssetsNetCurrent
461000 USD
CY2012Q4 us-gaap Deferred Tax Assets Net Current
DeferredTaxAssetsNetCurrent
438000 USD
CY2012Q4 us-gaap Deferred Tax Liabilities Noncurrent
DeferredTaxLiabilitiesNoncurrent
694000 USD
CY2013Q2 us-gaap Deferred Tax Liabilities Noncurrent
DeferredTaxLiabilitiesNoncurrent
648000 USD
us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
DescriptionOfNewAccountingPronouncementsNotYetAdopted
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">RECENT ACCOUNTING PRONOUNCEMENTS</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In December 2011, the FASB issued ASU No. 2011-11, &#8220;Balance Sheet (Topic 210): Disclosures about Offsetting Assets and</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Liabilities&#8221;. This guidance eliminates offsetting of financial instruments disclosure differences between GAAP and IFRS. New</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">disclosures will be required for recognized financial instruments, such as derivatives, repurchase agreements, and reverse repurchase agreements, that are either (1) offset on the balance sheet in accordance with the FASB's offsetting guidance or (2) subject to an enforceable master netting arrangement or similar agreement, regardless of whether they are offset in accordance with the FASB's offsetting guidance. The objective of the new disclosure requirements is to enable users of the financial statements to evaluate the effect or potential effect of netting arrangements on an entity's financial position, including the effect or potential effect of rights of setoff associated with certain financial instruments and derivative instruments. This amended guidance will be applied retrospectively and is effective for fiscal years, and interim periods within those years, beginning on or after January 1, 2013. The adoption of this guidance, which involves disclosure only, did not impact the Corporation's consolidated financial position, results of operations, or cash flows.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In February 2013, the FASB issued ASU 2013-02, &#8220;Comprehensive Income: Reporting of Amounts Reclassified out of Accumulated Other Comprehensive Income&#8221;. ASU 2013-02 requires an entity to report the effect of significant reclassifications out of accumulated other comprehensive income on the respective line items in net income if the amount being reclassified is required under U.S. GAAP to be reclassified in its entirety to net income. For other amounts that are not required under U.S. GAAP to be reclassified in their entirety to net income in the same reporting period, an entity is required to cross-reference other disclosures required under U.S. GAAP that provide additional detail about those amounts. ASU 2013-02 does not change the current requirements for reporting net income or other comprehensive income in financial statements. The provisions of ASU 2013-02 are effective for periods beginning after December 15, 2012, with prospective application to transactions or modifications of existing transactions that occur on or after the effective date. Upon adoption of the provisions of ASU 2013-02 on January 1, 2013, the Corporation revised its financial statements and disclosures accordingly.</font></div></div>
CY2012Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.09
CY2013Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.05
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
144156 USD
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.06
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.02
CY2012Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.09
CY2013Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.05
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.02
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.06
us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
18282 USD
us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
50971 USD
CY2012Q2 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-7284 USD
CY2013Q2 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
11349 USD
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
50971 USD
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
18506 USD
CY2012Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
661019 USD
CY2013Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
834309 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1264052 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1464062 USD
CY2012Q2 us-gaap Gross Profit
GrossProfit
1916610 USD
CY2013Q2 us-gaap Gross Profit
GrossProfit
1052239 USD
us-gaap Gross Profit
GrossProfit
2868002 USD
us-gaap Gross Profit
GrossProfit
2877230 USD
CY2013Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-376915 USD
CY2012Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
695537 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
470162 USD
CY2012Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
272000 USD
CY2013Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-154000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
58000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
174000 USD
us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
124544 USD
us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
273541 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
2555349 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-770527 USD
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-32791 USD
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
13160 USD
us-gaap Increase Decrease In Customer Advances And Deposits
IncreaseDecreaseInCustomerAdvancesAndDeposits
237947 USD
us-gaap Increase Decrease In Customer Advances And Deposits
IncreaseDecreaseInCustomerAdvancesAndDeposits
-777075 USD
us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
69000 USD
us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
24000 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-225205 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-123776 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-92866 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-408343 USD
us-gaap Increase Decrease In Prepaid Taxes
IncreaseDecreaseInPrepaidTaxes
-81750 USD
us-gaap Increase Decrease In Prepaid Taxes
IncreaseDecreaseInPrepaidTaxes
0 USD
us-gaap Increase Decrease In Unbilled Receivables
IncreaseDecreaseInUnbilledReceivables
390600 USD
us-gaap Increase Decrease In Unbilled Receivables
IncreaseDecreaseInUnbilledReceivables
-659995 USD
CY2013Q2 us-gaap Interest Expense
InterestExpense
26793 USD
CY2013Q2 us-gaap Long Term Notes Payable
LongTermNotesPayable
2526341 USD
CY2012Q4 us-gaap Long Term Notes Payable
LongTermNotesPayable
2661228 USD
CY2013Q2 us-gaap Liabilities Current
LiabilitiesCurrent
3430397 USD
CY2012Q4 us-gaap Liabilities Current
LiabilitiesCurrent
2596845 USD
CY2013Q2 us-gaap Licenses Revenue
LicensesRevenue
431600 USD
CY2012Q2 us-gaap Licenses Revenue
LicensesRevenue
429801 USD
us-gaap Licenses Revenue
LicensesRevenue
759050 USD
us-gaap Licenses Revenue
LicensesRevenue
813372 USD
CY2012Q2 us-gaap Interest Expense
InterestExpense
32800 USD
us-gaap Interest Expense
InterestExpense
68051 USD
us-gaap Interest Expense
InterestExpense
59171 USD
CY2013Q2 us-gaap Interest Income Domestic Deposits
InterestIncomeDomesticDeposits
381 USD
CY2012Q2 us-gaap Interest Income Domestic Deposits
InterestIncomeDomesticDeposits
1532 USD
us-gaap Interest Income Domestic Deposits
InterestIncomeDomesticDeposits
1461 USD
us-gaap Interest Income Domestic Deposits
InterestIncomeDomesticDeposits
2880 USD
CY2013Q2 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
1092536 USD
CY2012Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
1631957 USD
CY2013Q2 us-gaap Inventory Raw Materials
InventoryRawMaterials
887794 USD
CY2012Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
472149 USD
CY2012Q4 us-gaap Liabilities
Liabilities
5952073 USD
CY2013Q2 us-gaap Liabilities
Liabilities
6604738 USD
CY2013Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
17512394 USD
CY2012Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
16817804 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-121057 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-220024 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-2212233 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
42659 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-741400 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
907262 USD
CY2013Q2 us-gaap Net Income Loss
NetIncomeLoss
-222915 USD
CY2012Q2 us-gaap Net Income Loss
NetIncomeLoss
423537 USD
us-gaap Net Income Loss
NetIncomeLoss
296162 USD
us-gaap Net Income Loss
NetIncomeLoss
86156 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
296162 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
86156 USD
CY2012Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
423537 USD
CY2013Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-222915 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
296162 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
86156 USD
CY2013Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-222915 USD
CY2012Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
423537 USD
CY2013Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2012Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2012Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2013Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2012Q4 us-gaap Notes Payable Current
NotesPayableCurrent
329529 USD
CY2013Q2 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2012Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2013Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2013Q2 us-gaap Notes Payable Current
NotesPayableCurrent
334928 USD
CY2013Q2 us-gaap Operating Expenses
OperatingExpenses
1439471 USD
CY2012Q2 us-gaap Operating Expenses
OperatingExpenses
1175609 USD
us-gaap Operating Expenses
OperatingExpenses
2395748 USD
us-gaap Operating Expenses
OperatingExpenses
2730123 USD
CY2013Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-350503 USD
CY2012Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
726805 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
201866 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
535333 USD
CY2012Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
289335 USD
CY2013Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
293488 USD
CY2013Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-52627 USD
CY2012Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
0 USD
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
0 USD
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-59005 USD
CY2013Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
33000 USD
us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
38000 USD
CY2013Q2 us-gaap Other Income
OtherIncome
25380 USD
CY2012Q2 us-gaap Other Income
OtherIncome
-6912 USD
us-gaap Other Income
OtherIncome
2880 USD
us-gaap Other Income
OtherIncome
45481 USD
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
0 USD
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
1985377 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
8334 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
245138 USD
CY2012Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2013Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
189982 USD
CY2012Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
287002 USD
CY2013Q2 us-gaap Prepaid Taxes
PrepaidTaxes
91405 USD
CY2012Q4 us-gaap Prepaid Taxes
PrepaidTaxes
173155 USD
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Reclassifications</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain minor reclassifications have been made in prior year amounts to conform to the current year presentation.</font></div></div>
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
0 USD
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
39898 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
18282 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
50993 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
0 USD
CY2013Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
6016990 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
8431 USD
CY2012Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4049478 USD
CY2013Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3962576 USD
us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
169386 USD
us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
220024 USD
CY2012Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
5924491 USD
CY2012Q2 us-gaap Sales Revenue Net
SalesRevenueNet
6637155 USD
CY2013Q2 us-gaap Sales Revenue Net
SalesRevenueNet
6134564 USD
us-gaap Sales Revenue Net
SalesRevenueNet
13028199 USD
us-gaap Sales Revenue Net
SalesRevenueNet
12627579 USD
CY2012Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
514590 USD
CY2013Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
605162 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
1131696 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
1266061 USD
CY2013Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
416265 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
0 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
0.00
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
0 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0.00
CY2013Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
138000 USD
CY2012Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
425965 shares
CY2013Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
416265 shares
CY2012Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.82
CY2013Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.84
CY2013Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
1.84
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.86
CY2013Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
138000 USD
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
9700 shares
CY2012Q4 us-gaap Stockholders Equity
StockholdersEquity
10865731 USD
CY2013Q2 us-gaap Stockholders Equity
StockholdersEquity
10907656 USD
CY2012Q4 us-gaap Stockholders Equity Before Treasury Stock
StockholdersEquityBeforeTreasuryStock
10968031 USD
CY2013Q2 us-gaap Stockholders Equity Before Treasury Stock
StockholdersEquityBeforeTreasuryStock
11009956 USD
CY2013Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4829380 shares
CY2012Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4850569 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4890848 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4863208 shares
CY2012Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4826182 shares
CY2013Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4829380 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4827790 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4826182 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
63058 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
37026 shares
CY2013Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2012Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
24387 shares
CY2012Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
40920 shares
CY2013Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
40920 shares
CY2013Q2 us-gaap Treasury Stock Value
TreasuryStockValue
102300 USD
CY2012Q4 us-gaap Treasury Stock Value
TreasuryStockValue
102300 USD
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.&#160;&#160;Actual results could differ from those estimates.</font></div></div>
CY2013Q2 smid Products Sales And Leasing
ProductsSalesAndLeasing
4586700 USD
CY2012Q2 smid Products Sales And Leasing
ProductsSalesAndLeasing
4948697 USD
smid Products Sales And Leasing
ProductsSalesAndLeasing
9012812 USD
smid Products Sales And Leasing
ProductsSalesAndLeasing
10446081 USD
smid Revenue Recognition Licensing Contract Term
RevenueRecognitionLicensingContractTerm
P5Y
CY2013Q2 smid Shipping And Installation Revenue
ShippingAndInstallationRevenue
1116264 USD
CY2012Q2 smid Shipping And Installation Revenue
ShippingAndInstallationRevenue
1258657 USD
smid Shipping And Installation Revenue
ShippingAndInstallationRevenue
1823068 USD
smid Shipping And Installation Revenue
ShippingAndInstallationRevenue
2801395 USD
CY2012Q2 smid Total Other Expense
TotalOtherExpense
-31268 USD
CY2013Q2 smid Total Other Expense
TotalOtherExpense
-26412 USD
smid Total Other Expense
TotalOtherExpense
-57710 USD
smid Total Other Expense
TotalOtherExpense
-65171 USD
CY2012Q4 smid Trade Unbilled
TradeUnbilled
356525 USD
CY2013Q2 smid Trade Unbilled
TradeUnbilled
0 USD
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0000924719
CY2013Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
4794962 shares
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2013
dei Document Period End Date
DocumentPeriodEndDate
2013-06-30
dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Company
dei Entity Registrant Name
EntityRegistrantName
SMITH MIDLAND CORP

Files In Submission

Name View Source Status
0000924719-13-000016-index-headers.html Edgar Link pending
0000924719-13-000016-index.html Edgar Link pending
0000924719-13-000016.txt Edgar Link pending
0000924719-13-000016-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
R1.htm Edgar Link pending
R1.xml Edgar Link unprocessable
R10.htm Edgar Link pending
R10.xml Edgar Link unprocessable
R11.htm Edgar Link pending
R11.xml Edgar Link unprocessable
R12.htm Edgar Link pending
R12.xml Edgar Link unprocessable
R13.htm Edgar Link pending
R13.xml Edgar Link unprocessable
R14.htm Edgar Link pending
R14.xml Edgar Link unprocessable
R15.htm Edgar Link pending
R15.xml Edgar Link unprocessable
R16.htm Edgar Link pending
R16.xml Edgar Link unprocessable
R17.htm Edgar Link pending
R17.xml Edgar Link unprocessable
R2.htm Edgar Link pending
R2.xml Edgar Link unprocessable
R3.htm Edgar Link pending
R3.xml Edgar Link unprocessable
R4.htm Edgar Link pending
R4.xml Edgar Link unprocessable
R5.htm Edgar Link pending
R5.xml Edgar Link unprocessable
R6.htm Edgar Link pending
R6.xml Edgar Link unprocessable
R7.htm Edgar Link pending
R7.xml Edgar Link unprocessable
R8.htm Edgar Link pending
R8.xml Edgar Link unprocessable
R9.htm Edgar Link pending
R9.xml Edgar Link unprocessable
report.css Edgar Link pending
Show.js Edgar Link pending
smid-20130630.xml Edgar Link completed
smid-20130630.xsd Edgar Link pending
smid-20130630_cal.xml Edgar Link unprocessable
smid-20130630_def.xml Edgar Link unprocessable
smid-20130630_lab.xml Edgar Link unprocessable
smid-20130630_pre.xml Edgar Link unprocessable
smid-2013630x10q.htm Edgar Link pending
smid-2013630xex311.htm Edgar Link pending
smid-2013630xex312.htm Edgar Link pending
smid-2013630xex321.htm Edgar Link pending