$SMID
SMITH MIDLAND CORP

2013 Q4 Form 10-Q Financial Statement

#000092471913000026 Filed on November 14, 2013

View on sec.gov

Income Statement

Concept 2013 Q4 2013 Q3 2012 Q3
Revenue $7.780M $6.906M $7.544M
YoY Change 64.83% -8.46% 22.99%
Cost Of Revenue $5.840M $5.143M $5.425M
YoY Change 40.38% -5.18% -0.99%
Gross Profit $1.940M $1.763M $2.120M
YoY Change 246.43% -16.83% 223.45%
Gross Profit Margin 24.94% 25.53% 28.1%
Selling, General & Admin $1.450M $1.230M $1.146M
YoY Change 0.69% 7.31% -9.5%
% of Gross Profit 74.74% 69.78% 54.08%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $150.0K $150.0K $170.0K
YoY Change 7.14% -11.76% -5.56%
% of Gross Profit 7.73% 8.51% 8.02%
Operating Expenses $1.370M $1.230M $1.146M
YoY Change -6.16% 7.31% -9.5%
Operating Profit $570.0K $485.0K $1.016M
YoY Change -163.33% -52.28% -270.37%
Interest Expense -$100.0K $39.66K $33.76K
YoY Change 233.33% 17.49% -8.67%
% of Operating Profit -17.54% 8.18% 3.32%
Other Income/Expense, Net
YoY Change
Pretax Income $490.0K $446.9K $983.5K
YoY Change -154.44% -54.56% -255.9%
Income Tax $160.0K $175.0K $295.0K
% Of Pretax Income 32.65% 39.16% 29.99%
Net Earnings $330.0K $271.9K $688.5K
YoY Change -154.1% -60.51% -246.53%
Net Earnings / Revenue 4.24% 3.94% 9.13%
Basic Earnings Per Share $0.06 $0.14
Diluted Earnings Per Share $68.04K $0.06 $0.14
COMMON SHARES
Basic Shares Outstanding 4.805M shares 4.841M shares 4.826M shares
Diluted Shares Outstanding 4.906M shares 4.859M shares

Balance Sheet

Concept 2013 Q4 2013 Q3 2012 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.050M $3.110M $3.200M
YoY Change -7.32% -2.81% 46.79%
Cash & Equivalents $3.136M $2.204M $3.195M
Short-Term Investments $920.0K $910.0K
Other Short-Term Assets $710.0K $730.0K $770.0K
YoY Change -2.74% -5.19% 42.59%
Inventory $1.940M $1.890M $1.740M
Prepaid Expenses
Receivables $7.297M $7.375M $7.171M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $14.04M $13.37M $13.72M
YoY Change 12.48% -2.6% 6.35%
LONG-TERM ASSETS
Property, Plant & Equipment $4.323M $4.119M $4.158M
YoY Change 6.75% -0.92% -5.65%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $297.9K $306.8K $281.4K
YoY Change 2.97% 9.02% 58.06%
Total Long-Term Assets $4.621M $4.426M $4.439M
YoY Change 6.5% -0.29% -3.18%
TOTAL ASSETS
Total Short-Term Assets $14.04M $13.37M $13.72M
Total Long-Term Assets $4.621M $4.426M $4.439M
Total Assets $18.66M $17.79M $18.16M
YoY Change 10.93% -2.04% 3.85%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.518M $1.013M $1.201M
YoY Change 64.59% -15.65% 32.99%
Accrued Expenses $927.8K $1.109M $1.089M
YoY Change -18.63% 1.88% 33.09%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $360.0K $330.0K $330.0K
YoY Change 9.09% 0.0% -23.26%
Total Short-Term Liabilities $4.064M $3.458M $3.035M
YoY Change 56.48% 13.95% 11.77%
LONG-TERM LIABILITIES
Long-Term Debt $2.540M $2.500M $2.740M
YoY Change -4.51% -8.76% -10.46%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $2.540M $2.500M $2.740M
YoY Change -4.51% -8.76% -10.46%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.064M $3.458M $3.035M
Total Long-Term Liabilities $2.540M $2.500M $2.740M
Total Liabilities $7.238M $6.584M $6.450M
YoY Change 21.61% 2.08% 0.22%
SHAREHOLDERS EQUITY
Retained Earnings $6.472M $6.289M $6.772M
YoY Change 9.23% -7.13% 10.78%
Common Stock $48.82K $48.46K $48.26K
YoY Change 1.15% 0.41% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $102.3K $102.3K $102.3K
YoY Change 0.0% 0.0% 0.0%
Treasury Stock Shares 40.92K shares 40.92K shares 40.92K shares
Shareholders Equity $11.42M $11.21M $11.71M
YoY Change
Total Liabilities & Shareholders Equity $18.66M $17.79M $18.16M
YoY Change 10.93% -2.04% 3.85%

Cashflow Statement

Concept 2013 Q4 2013 Q3 2012 Q3
OPERATING ACTIVITIES
Net Income $330.0K $271.9K $688.5K
YoY Change -154.1% -60.51% -246.53%
Depreciation, Depletion And Amortization $150.0K $150.0K $170.0K
YoY Change 7.14% -11.76% -5.56%
Cash From Operating Activities $1.320M $240.0K $470.0K
YoY Change -12.58% -48.94% -138.21%
INVESTING ACTIVITIES
Capital Expenditures -$360.0K -$300.0K -$40.00K
YoY Change 500.0% 650.0% 0.0%
Acquisitions
YoY Change
Other Investing Activities $20.00K $990.0K $10.00K
YoY Change -60.0% 9800.0%
Cash From Investing Activities -$340.0K $680.0K -$30.00K
YoY Change 3300.0% -2366.67% -25.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -40.00K -20.00K -110.0K
YoY Change -87.5% -81.82% 0.0%
NET CHANGE
Cash From Operating Activities 1.320M 240.0K 470.0K
Cash From Investing Activities -340.0K 680.0K -30.00K
Cash From Financing Activities -40.00K -20.00K -110.0K
Net Change In Cash 940.0K 900.0K 330.0K
YoY Change -20.34% 172.73% -123.91%
FREE CASH FLOW
Cash From Operating Activities $1.320M $240.0K $470.0K
Capital Expenditures -$360.0K -$300.0K -$40.00K
Free Cash Flow $1.680M $540.0K $510.0K
YoY Change 7.01% 5.88% -142.86%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2012Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
922091 USD
CY2013Q3 us-gaap Accounts Payable Current
AccountsPayableCurrent
1012837 USD
CY2012Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
4752729 USD
CY2013Q3 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
7374890 USD
CY2012Q4 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
0 USD
CY2013Q3 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
183332 USD
CY2013Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1109006 USD
CY2012Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1140234 USD
CY2013Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-38046 USD
CY2012Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
0 USD
CY2012Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
4995278 USD
CY2013Q3 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
5011812 USD
CY2013Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
240835 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
CY2013Q3 us-gaap Assets
Assets
17792919 USD
CY2012Q4 us-gaap Assets Current
AssetsCurrent
12478991 USD
CY2013Q3 us-gaap Assets Current
AssetsCurrent
13366738 USD
CY2012Q4 us-gaap Available For Sale Securities
AvailableForSaleSecurities
0 USD
CY2013Q3 us-gaap Available For Sale Securities
AvailableForSaleSecurities
908756 USD
us-gaap Availableforsale Securities Gross Realized Gain Loss Excluding Other Than Temporary Impairments
AvailableforsaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairments
-68631 USD
us-gaap Availableforsale Securities Gross Realized Gain Loss Excluding Other Than Temporary Impairments
AvailableforsaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairments
0 USD
CY2012Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
4367474 USD
CY2013Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2203813 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
1064578 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-2163661 USD
CY2012Q4 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
4367474 USD
CY2011Q4 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
2130686 USD
CY2013Q3 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
2203813 USD
CY2012Q3 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
3195264 USD
CY2012Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.14
CY2012Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
0 USD
CY2013Q3 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
0 USD
CY2013Q3 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
CY2012Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
8000000 shares
CY2013Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
8000000 shares
CY2013Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
4845882 shares
CY2012Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
4845882 shares
CY2013Q3 us-gaap Common Stock Value
CommonStockValue
48459 USD
CY2012Q4 us-gaap Common Stock Value
CommonStockValue
48262 USD
CY2012Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
688524 USD
CY2013Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
292868 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
984686 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
320019 USD
CY2012Q3 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
5424602 USD
CY2013Q3 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
5143337 USD
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
15130188 USD
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
15303534 USD
CY2012Q4 us-gaap Customer Advances And Deposits
CustomerAdvancesAndDeposits
204991 USD
CY2013Q3 us-gaap Customer Advances And Deposits
CustomerAdvancesAndDeposits
818684 USD
CY2013Q3 us-gaap Deferred Tax Assets Net Current
DeferredTaxAssetsNetCurrent
507000 USD
CY2012Q4 us-gaap Deferred Tax Assets Net Current
DeferredTaxAssetsNetCurrent
438000 USD
CY2012Q4 us-gaap Deferred Tax Liabilities Noncurrent
DeferredTaxLiabilitiesNoncurrent
694000 USD
CY2013Q3 us-gaap Deferred Tax Liabilities Noncurrent
DeferredTaxLiabilitiesNoncurrent
623000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
525252 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
478323 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>
CY2013Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.06
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.20
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.07
CY2013Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.06
CY2012Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.14
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.20
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.07
CY2013Q3 us-gaap Gross Profit
GrossProfit
1763000 USD
us-gaap Gross Profit
GrossProfit
5041847 USD
us-gaap Gross Profit
GrossProfit
4631002 USD
CY2013Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
446909 USD
CY2012Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
983524 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
1453686 USD
us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
29247 USD
us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
82065 USD
CY2012Q3 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
31094 USD
CY2013Q3 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
10741 USD
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
29247 USD
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
82065 USD
CY2013Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
711569 USD
CY2012Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
671514 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
2175631 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1980329 USD
CY2012Q3 us-gaap Gross Profit
GrossProfit
2119854 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
591065 USD
CY2012Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
295000 USD
CY2013Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
175000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
233000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
469000 USD
us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
346624 USD
us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
90746 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
2622161 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-19630 USD
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
183332 USD
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
106845 USD
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-31210 USD
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
303146 USD
us-gaap Increase Decrease In Customer Advances And Deposits
IncreaseDecreaseInCustomerAdvancesAndDeposits
-622892 USD
us-gaap Increase Decrease In Customer Advances And Deposits
IncreaseDecreaseInCustomerAdvancesAndDeposits
613693 USD
us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
227000 USD
us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
140000 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-218934 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-199393 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-654365 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-48717 USD
us-gaap Increase Decrease In Prepaid Taxes
IncreaseDecreaseInPrepaidTaxes
0 USD
us-gaap Increase Decrease In Prepaid Taxes
IncreaseDecreaseInPrepaidTaxes
-173155 USD
us-gaap Licenses Revenue
LicensesRevenue
1091518 USD
us-gaap Other Income
OtherIncome
-13039 USD
us-gaap Increase Decrease In Unbilled Receivables
IncreaseDecreaseInUnbilledReceivables
-90198 USD
us-gaap Increase Decrease In Unbilled Receivables
IncreaseDecreaseInUnbilledReceivables
824538 USD
CY2013Q3 us-gaap Interest Expense
InterestExpense
39662 USD
CY2012Q3 us-gaap Interest Expense
InterestExpense
33757 USD
us-gaap Interest Expense
InterestExpense
98833 USD
us-gaap Interest Expense
InterestExpense
101808 USD
CY2013Q3 us-gaap Interest Income Domestic Deposits
InterestIncomeDomesticDeposits
1606 USD
CY2012Q3 us-gaap Interest Income Domestic Deposits
InterestIncomeDomesticDeposits
1010 USD
us-gaap Interest Income Domestic Deposits
InterestIncomeDomesticDeposits
3067 USD
us-gaap Interest Income Domestic Deposits
InterestIncomeDomesticDeposits
3890 USD
CY2013Q3 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
1091770 USD
CY2012Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
1631957 USD
CY2013Q3 us-gaap Inventory Raw Materials
InventoryRawMaterials
793402 USD
CY2012Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
472149 USD
CY2012Q4 us-gaap Liabilities
Liabilities
5952073 USD
CY2013Q3 us-gaap Liabilities
Liabilities
6584095 USD
CY2012Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
16817804 USD
CY2013Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
17792919 USD
CY2013Q3 us-gaap Liabilities Current
LiabilitiesCurrent
3458240 USD
CY2012Q4 us-gaap Liabilities Current
LiabilitiesCurrent
2596845 USD
CY2012Q3 us-gaap Licenses Revenue
LicensesRevenue
278146 USD
CY2013Q3 us-gaap Licenses Revenue
LicensesRevenue
403098 USD
us-gaap Licenses Revenue
LicensesRevenue
1162148 USD
CY2013Q3 us-gaap Long Term Notes Payable
LongTermNotesPayable
2502855 USD
CY2012Q4 us-gaap Long Term Notes Payable
LongTermNotesPayable
2661228 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-332325 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-136795 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1528042 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
13457 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-498824 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
1383446 USD
CY2013Q3 us-gaap Net Income Loss
NetIncomeLoss
271909 USD
CY2012Q3 us-gaap Net Income Loss
NetIncomeLoss
688524 USD
us-gaap Net Income Loss
NetIncomeLoss
358065 USD
us-gaap Net Income Loss
NetIncomeLoss
984686 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
984686 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
358065 USD
CY2012Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
688524 USD
CY2013Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
271909 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
358065 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
984686 USD
CY2013Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
271909 USD
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
0 USD
CY2012Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
688524 USD
CY2013Q3 us-gaap Notes Payable Current
NotesPayableCurrent
334381 USD
CY2013Q3 us-gaap Operating Expenses
OperatingExpenses
1230256 USD
us-gaap Operating Expenses
OperatingExpenses
3960379 USD
us-gaap Operating Expenses
OperatingExpenses
3586938 USD
CY2012Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
0 USD
CY2012Q4 us-gaap Notes Payable Current
NotesPayableCurrent
329529 USD
CY2012Q3 us-gaap Operating Expenses
OperatingExpenses
1146427 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-79727 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
0 USD
CY2013Q3 us-gaap Other Income
OtherIncome
-58520 USD
CY2012Q3 us-gaap Other Income
OtherIncome
11750 USD
us-gaap Other Income
OtherIncome
14630 USD
CY2013Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
484965 USD
CY2012Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
1016271 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
1551604 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
686831 USD
CY2012Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
289335 USD
CY2013Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
306841 USD
CY2013Q3 us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
-13000 USD
us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
-31000 USD
CY2013Q3 us-gaap Other Comprehensive Income Loss Reclassification Adjustment For Sale Of Securities Included In Net Income Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentForSaleOfSecuritiesIncludedInNetIncomeNetOfTax
41681 USD
CY2012Q3 us-gaap Other Comprehensive Income Loss Reclassification Adjustment For Sale Of Securities Included In Net Income Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentForSaleOfSecuritiesIncludedInNetIncomeNetOfTax
0 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment For Sale Of Securities Included In Net Income Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentForSaleOfSecuritiesIncludedInNetIncomeNetOfTax
41681 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment For Sale Of Securities Included In Net Income Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentForSaleOfSecuritiesIncludedInNetIncomeNetOfTax
0 USD
CY2013Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-20722 USD
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
2009110 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
50940 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
548337 USD
CY2013Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2012Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2012Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2013Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2013Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2012Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2013Q3 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2012Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2013Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
220780 USD
CY2012Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
287002 USD
CY2013Q3 us-gaap Prepaid Taxes
PrepaidTaxes
0 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
2139339 USD
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
0 USD
us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
0 USD
us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
1000000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
64397 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
29405 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
16731 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
0 USD
CY2012Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4049478 USD
CY2013Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4119340 USD
us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
2292865 USD
us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
332325 USD
CY2012Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
5924491 USD
CY2013Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
6288899 USD
CY2012Q3 us-gaap Sales Revenue Net
SalesRevenueNet
7544456 USD
CY2013Q3 us-gaap Sales Revenue Net
SalesRevenueNet
6906337 USD
us-gaap Sales Revenue Net
SalesRevenueNet
20172035 USD
us-gaap Sales Revenue Net
SalesRevenueNet
19934536 USD
CY2012Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
474913 USD
CY2013Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
518687 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
1606609 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
1784748 USD
CY2013Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
406265 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
CY2013Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
107000 USD
CY2013Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
406265 shares
CY2012Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
425965 shares
CY2013Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.87
CY2013Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
1.87
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.86
CY2012Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.82
CY2013Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
64865 shares
CY2012Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
32915 shares
CY2013Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4906073 shares
CY2013Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
107000 USD
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
19700 shares
CY2012Q4 us-gaap Stockholders Equity
StockholdersEquity
10865731 USD
CY2013Q3 us-gaap Stockholders Equity
StockholdersEquity
11208824 USD
CY2013Q3 us-gaap Stockholders Equity Before Treasury Stock
StockholdersEquityBeforeTreasuryStock
11311124 USD
CY2012Q4 us-gaap Stockholders Equity Before Treasury Stock
StockholdersEquityBeforeTreasuryStock
10968031 USD
CY2013Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
40920 shares
CY2012Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
40920 shares
CY2013Q3 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>
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
64865 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
35595 shares
CY2012Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4859097 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4899170 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4861777 shares
CY2012Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4826182 shares
CY2013Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4841208 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4826182 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4834305 shares
CY2012Q3 smid Products Sales And Leasing
ProductsSalesAndLeasing
5809880 USD
CY2013Q3 smid Products Sales And Leasing
ProductsSalesAndLeasing
5557080 USD
smid Products Sales And Leasing
ProductsSalesAndLeasing
14822692 USD
smid Products Sales And Leasing
ProductsSalesAndLeasing
16003161 USD
smid Revenue Recognition Licensing Contract Term
RevenueRecognitionLicensingContractTerm
P5Y
CY2012Q3 smid Shipping And Installation Revenue
ShippingAndInstallationRevenue
1456430 USD
CY2013Q3 smid Shipping And Installation Revenue
ShippingAndInstallationRevenue
946159 USD
smid Shipping And Installation Revenue
ShippingAndInstallationRevenue
2769227 USD
smid Shipping And Installation Revenue
ShippingAndInstallationRevenue
4257825 USD
CY2013Q3 smid Total Other Expense
TotalOtherExpense
-38056 USD
CY2012Q3 smid Total Other Expense
TotalOtherExpense
-32747 USD
smid Total Other Expense
TotalOtherExpense
-95766 USD
smid Total Other Expense
TotalOtherExpense
-97918 USD
CY2012Q4 smid Trade Unbilled
TradeUnbilled
356525 USD
CY2013Q3 smid Trade Unbilled
TradeUnbilled
266327 USD
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2013
dei Entity Central Index Key
EntityCentralIndexKey
0000924719
dei Document Period End Date
DocumentPeriodEndDate
2013-09-30
dei Document Type
DocumentType
10-Q
CY2013Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
4804962 shares
dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Company
dei Entity Registrant Name
EntityRegistrantName
SMITH MIDLAND CORP

Files In Submission

Name View Source Status
0000924719-13-000026-index-headers.html Edgar Link pending
0000924719-13-000026-index.html Edgar Link pending
0000924719-13-000026.txt Edgar Link pending
0000924719-13-000026-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
Financial_Report.xlsx Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R2.htm Edgar Link pending
R3.htm Edgar Link pending
R4.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
smid-20130930.xml Edgar Link completed
smid-20130930.xsd Edgar Link pending
smid-20130930_cal.xml Edgar Link unprocessable
smid-20130930_def.xml Edgar Link unprocessable
smid-20130930_lab.xml Edgar Link unprocessable
smid-20130930_pre.xml Edgar Link unprocessable
smid-2013930x10q.htm Edgar Link pending
smid-2013930xex311.htm Edgar Link pending
smid-2013930xex312.htm Edgar Link pending
smid-2013930xex321.htm Edgar Link pending