$SMID
SMITH MIDLAND CORP

2012 Q4 Form 10-K Financial Statement

#000092471914000005 Filed on March 27, 2014

View on sec.gov

Income Statement

Concept 2012 Q4 2012 2011 Q4
Revenue $4.720M $24.89M $5.800M
YoY Change -18.62% -6.75% -33.1%
Cost Of Revenue $4.160M $19.45M $5.200M
YoY Change -20.0% -11.98% -20.97%
Gross Profit $560.0K $5.446M $600.0K
YoY Change -6.67% 18.36% -71.29%
Gross Profit Margin 11.86% 21.88% 10.34%
Selling, General & Admin $1.440M $4.868M $1.260M
YoY Change 14.29% -6.59% -9.35%
% of Gross Profit 257.14% 89.38% 210.0%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $140.0K $674.2K $170.0K
YoY Change -17.65% -5.43% -10.53%
% of Gross Profit 25.0% 12.38% 28.33%
Operating Expenses $1.460M $4.868M $1.260M
YoY Change 15.87% -6.59% -9.35%
Operating Profit -$900.0K $687.8K -$660.0K
YoY Change 36.36% -288.51% -194.29%
Interest Expense -$30.00K $134.8K -$30.00K
YoY Change 0.0% -0.91% 50.0%
% of Operating Profit 19.6%
Other Income/Expense, Net $80.00K
YoY Change 60.0%
Pretax Income -$900.0K $558.7K -$550.0K
YoY Change 63.64% -214.56% -175.34%
Income Tax -$290.0K $182.0K -$220.0K
% Of Pretax Income 32.58%
Net Earnings -$610.0K $376.7K -$320.0K
YoY Change 90.63% -207.11% -164.0%
Net Earnings / Revenue -12.92% 1.51% -5.52%
Basic Earnings Per Share $0.08
Diluted Earnings Per Share -$126.3K $0.08 -$66.25K
COMMON SHARES
Basic Shares Outstanding 4.785M shares 4.826M shares 4.785M shares
Diluted Shares Outstanding 4.867M shares

Balance Sheet

Concept 2012 Q4 2012 2011 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.370M $4.370M $2.130M
YoY Change 105.16% 105.16% -17.12%
Cash & Equivalents $4.367M $4.370M $2.131M
Short-Term Investments
Other Short-Term Assets $730.0K $730.0K $680.0K
YoY Change 7.35% 7.35% 36.0%
Inventory $2.100M $2.100M $1.940M
Prepaid Expenses
Receivables $4.753M $5.110M $7.191M
Other Receivables $170.0K $170.0K $720.0K
Total Short-Term Assets $12.48M $12.48M $12.70M
YoY Change -1.74% -1.73% -5.12%
LONG-TERM ASSETS
Property, Plant & Equipment $4.049M $4.050M $4.616M
YoY Change -12.26% -12.34% 0.26%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $289.3K $290.0K $212.4K
YoY Change 36.2% 38.1% 58.39%
Total Long-Term Assets $4.339M $4.340M $4.828M
YoY Change -10.13% -10.14% 1.9%
TOTAL ASSETS
Total Short-Term Assets $12.48M $12.48M $12.70M
Total Long-Term Assets $4.339M $4.340M $4.828M
Total Assets $16.82M $16.82M $17.53M
YoY Change -4.05% -4.05% -3.28%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $922.1K $920.0K $854.2K
YoY Change 7.95% 8.24% -35.0%
Accrued Expenses $1.140M $1.140M $785.4K
YoY Change 45.18% 44.3% -54.82%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $330.0K $330.0K $410.0K
YoY Change -19.51% -19.51% 0.0%
Total Short-Term Liabilities $2.597M $2.600M $2.983M
YoY Change -12.95% -12.75% -18.08%
LONG-TERM LIABILITIES
Long-Term Debt $2.660M $2.660M $2.990M
YoY Change -11.04% -11.04% 6.41%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $2.660M $2.660M $2.990M
YoY Change -11.04% -11.04% 6.41%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.597M $2.600M $2.983M
Total Long-Term Liabilities $2.660M $2.660M $2.990M
Total Liabilities $5.952M $5.950M $6.798M
YoY Change -12.45% -12.5% -5.1%
SHAREHOLDERS EQUITY
Retained Earnings $5.924M $5.788M
YoY Change 2.35% -5.73%
Common Stock $48.26K $48.26K
YoY Change 0.0% 2.59%
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 $10.87M $10.87M $10.73M
YoY Change
Total Liabilities & Shareholders Equity $16.82M $16.82M $17.53M
YoY Change -4.05% -4.05% -3.28%

Cashflow Statement

Concept 2012 Q4 2012 2011 Q4
OPERATING ACTIVITIES
Net Income -$610.0K $376.7K -$320.0K
YoY Change 90.63% -207.11% -164.0%
Depreciation, Depletion And Amortization $140.0K $674.2K $170.0K
YoY Change -17.65% -5.43% -10.53%
Cash From Operating Activities $1.510M $2.889M $370.0K
YoY Change 308.11% -3576.49% -69.92%
INVESTING ACTIVITIES
Capital Expenditures -$60.00K $110.3K -$400.0K
YoY Change -85.0% -85.15% 150.0%
Acquisitions
YoY Change
Other Investing Activities $50.00K $110.0K $80.00K
YoY Change -37.5% 10.0% 700.0%
Cash From Investing Activities -$10.00K $2.050K -$320.0K
YoY Change -96.88% -100.32% 100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -320.0K -$654.4K -90.00K
YoY Change 255.56% -330.51% -18.18%
NET CHANGE
Cash From Operating Activities 1.510M $2.889M 370.0K
Cash From Investing Activities -10.00K $2.050K -320.0K
Cash From Financing Activities -320.0K -$654.4K -90.00K
Net Change In Cash 1.180M $2.237M -40.00K
YoY Change -3050.0% -605.51% -104.17%
FREE CASH FLOW
Cash From Operating Activities $1.510M $2.889M $370.0K
Capital Expenditures -$60.00K $110.3K -$400.0K
Free Cash Flow $1.570M $2.779M $770.0K
YoY Change 103.9% -436.49% -44.6%

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CY2013Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
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CY2013Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
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CY2012Q4 us-gaap Long Term Notes Payable
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CY2013Q4 us-gaap Long Term Notes Payable
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CY2012 us-gaap Net Cash Provided By Used In Investing Activities
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2050 USD
CY2013 us-gaap Net Cash Provided By Used In Operating Activities
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CY2012 us-gaap Net Cash Provided By Used In Operating Activities
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CY2013 us-gaap Net Income Loss
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CY2012 us-gaap Net Income Loss
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CY2012 us-gaap Net Income Loss Available To Common Stockholders Basic
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376691 USD
CY2013 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2012 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
376691 USD
CY2013 us-gaap Net Income Loss Available To Common Stockholders Diluted
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CY2012 us-gaap Other Income
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CY2012 us-gaap Payments Of Dividends Common Stock
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CY2013 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
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CY2013Q4 us-gaap Notes Payable
NotesPayable
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CY2012Q4 us-gaap Notes Payable
NotesPayable
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CY2013Q4 us-gaap Notes Payable Current
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CY2012Q4 us-gaap Notes Payable Current
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CY2012 us-gaap Operating Expenses
OperatingExpenses
4867905 USD
CY2013 us-gaap Operating Expenses
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CY2012 us-gaap Operating Income Loss
OperatingIncomeLoss
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CY2013 us-gaap Operating Income Loss
OperatingIncomeLoss
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CY2013Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
297915 USD
CY2012Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
289335 USD
CY2013 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-41014 USD
CY2012 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
0 USD
CY2013 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
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CY2013 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesTax
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CY2012 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
0 USD
CY2013 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
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CY2013 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
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CY2013 us-gaap Other Income
OtherIncome
57362 USD
CY2012 us-gaap Payments To Acquire Available For Sale Securities
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0 USD
CY2013 us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
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CY2013 us-gaap Payments To Acquire Property Plant And Equipment
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908609 USD
CY2012 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
110275 USD
CY2013Q4 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
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CY2013Q4 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
CY2013Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
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CY2012Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2013Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2012Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
287002 USD
CY2013Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
231365 USD
CY2012Q4 us-gaap Prepaid Taxes
PrepaidTaxes
173155 USD
CY2013Q4 us-gaap Prepaid Taxes
PrepaidTaxes
0 USD
CY2013 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 to prior year amounts to conform to the current year presentation.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></div>
CY2012 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
0 USD
CY2013 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
2303339 USD
CY2012 us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
0 USD
CY2013 us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
1000000 USD
CY2013 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
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CY2012 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
112325 USD
CY2012 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
0 USD
CY2013 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
46713 USD
CY2012Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
13765907 USD
CY2013Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
14510040 USD
CY2012Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4049478 USD
CY2013Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4322995 USD
CY2012 us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
413800 USD
CY2013 us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
2385856 USD
CY2012Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
5924491 USD
CY2013Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
6471504 USD
CY2013 us-gaap Sales Revenue Net
SalesRevenueNet
27710542 USD
CY2012 us-gaap Sales Revenue Net
SalesRevenueNet
24893613 USD
CY2012 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
2205043 USD
CY2013 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
2322837 USD
CY2012Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
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CY2011Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
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CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
370599 shares
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
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CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
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CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
0.00
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
0.00
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
0 shares
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
0 shares
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0.00
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0.00
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
112000 USD
CY2011Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
425965 shares
CY2012Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
425965 shares
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
370599 shares
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
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0 shares
CY2012Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
0.00
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
0.00
CY2011Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.82
CY2012Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.82
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.96
CY2012Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
0 shares
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
0 shares
CY2012Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
0 shares
CY2012 us-gaap State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
43000 USD
CY2013 us-gaap State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
47000 USD
CY2013 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
55366 shares
CY2012 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0 shares
CY2013 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.84
CY2013 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
46713 USD
CY2012Q4 us-gaap Stockholders Equity
StockholdersEquity
10865731 USD
CY2012 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.00
CY2013Q4 us-gaap Stockholders Equity
StockholdersEquity
11418443 USD
CY2011Q4 us-gaap Stockholders Equity
StockholdersEquity
10729672 USD
CY2012Q4 us-gaap Stockholders Equity Before Treasury Stock
StockholdersEquityBeforeTreasuryStock
10968031 USD
CY2013Q4 us-gaap Stockholders Equity Before Treasury Stock
StockholdersEquityBeforeTreasuryStock
11520743 USD
CY2013Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
112000 USD
CY2012Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
40920 shares
CY2013Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
40920 shares
CY2012Q4 us-gaap Treasury Stock Value
TreasuryStockValue
102300 USD
CY2013Q4 us-gaap Treasury Stock Value
TreasuryStockValue
102300 USD
CY2013 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;">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. Actual results could differ from those estimates.</font></div></div>
CY2013 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
41248 shares
CY2012 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
41293 shares
CY2013 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4880453 shares
CY2012 smid Products Sales And Leasing
ProductsSalesAndLeasing
18353442 USD
CY2012 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4867475 shares
CY2012 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4826182 shares
CY2013 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4839205 shares
CY2013 smid Defined Contribution Plan Employer Matching Contribution Percent Of Employees Gross Pay
DefinedContributionPlanEmployerMatchingContributionPercentOfEmployeesGrossPay
0.04
CY2013 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
CY2013 smid Total Other Expense
TotalOtherExpense
-197168 USD
CY2012 smid Total Other Expense
TotalOtherExpense
-129071 USD
CY2013 smid Products Sales And Leasing
ProductsSalesAndLeasing
21897695 USD
CY2013 smid Revenue Recognition Licensing Contract Term
RevenueRecognitionLicensingContractTerm
P5Y
CY2012 smid Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Exercises In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableExercisesInPeriod
0 shares
CY2013 smid Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Exercises In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableExercisesInPeriod
55366 shares
CY2013 smid Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableForfeituresAndExpirationsInPeriod
0 shares
CY2012 smid Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableForfeituresAndExpirationsInPeriod
0 shares
CY2012 smid Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Grants In Period Net Of Forfeitures
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableGrantsInPeriodNetOfForfeitures
0 shares
CY2013 smid Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Grants In Period Net Of Forfeitures
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableGrantsInPeriodNetOfForfeitures
0 shares
CY2012 smid Shipping And Installation Revenue
ShippingAndInstallationRevenue
5179446 USD
CY2013 smid Shipping And Installation Revenue
ShippingAndInstallationRevenue
4267469 USD
CY2013Q4 smid Trade Unbilled
TradeUnbilled
41859 USD
CY2012Q4 smid Trade Unbilled
TradeUnbilled
356525 USD
CY2013 dei Amendment Flag
AmendmentFlag
false
CY2013 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2013 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2013 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2013
CY2013 dei Document Period End Date
DocumentPeriodEndDate
2013-12-31
CY2013 dei Document Type
DocumentType
10-K
CY2013 dei Entity Central Index Key
EntityCentralIndexKey
0000924719
CY2014Q1 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
4840628 shares
CY2013 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2013 dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Company
CY2013Q2 dei Entity Public Float
EntityPublicFloat
6273223 USD
CY2013 dei Entity Registrant Name
EntityRegistrantName
SMITH MIDLAND CORP
CY2013 dei Entity Voluntary Filers
EntityVoluntaryFilers
No

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