$SMID
SMITH MIDLAND CORP Stock $smid

$smid Overview Financials Valuation SEC Filings Company Website

2016 Q2 Form 10-Q Financial Statement

#000092471916000064 Filed on August 11, 2016

Income Statement

Concept	2016 Q2	2015 Q2	2015 Q1
Revenue	$9.640M	$6.898M	$4.200M
YoY Change	39.76%	7.3%	-25.5%
Cost Of Revenue	$7.571M	$5.230M	$3.670M
YoY Change	44.76%	4.12%	-25.21%
Gross Profit	$2.069M	$1.668M	$530.0K
YoY Change	24.07%	18.65%	-27.4%
Gross Profit Margin	21.46%	24.18%	12.62%
Selling, General & Admin	$1.435M	$1.261M	$1.379M
YoY Change	13.81%	-6.85%	5.36%
% of Gross Profit	69.37%	75.63%	260.14%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$190.0K	$160.0K	$169.2K
YoY Change	18.75%	0.0%	11.81%
% of Gross Profit	9.18%	9.59%	31.92%
Operating Expenses	$1.435M	$1.261M	$1.379M
YoY Change	13.81%	-6.85%	5.36%
Operating Profit	$633.6K	$416.8K	-$832.9K
YoY Change	52.03%	332.86%	55.24%
Interest Expense	$35.58K	$23.74K	$26.99K
YoY Change	49.89%	-20.47%	-6.13%
% of Operating Profit	5.62%	5.7%
Other Income/Expense, Net	$4.310K	-$22.92K	-$26.50K
YoY Change	-118.8%	-19.02%
Pretax Income	$637.9K	$393.9K	-$859.4K
YoY Change	61.97%	479.36%	53.59%
Income Tax	$219.0K	$149.0K	-$335.0K
% Of Pretax Income	34.33%	37.83%
Net Earnings	$418.9K	$244.9K	-$524.4K
YoY Change	71.09%	716.71%	59.61%
Net Earnings / Revenue	4.35%	3.55%	-12.48%
Basic Earnings Per Share	$0.09	$0.05	-$0.11
Diluted Earnings Per Share	$0.08	$0.05	-$0.11
COMMON SHARES
Basic Shares Outstanding	4.920M shares	4.893M shares	4.892M shares
Diluted Shares Outstanding	4.967M shares	4.938M shares	4.892M shares

Balance Sheet

Concept	2016 Q2	2015 Q2	2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments	$1.860M	$2.950M	$3.290M
YoY Change	-36.95%	-22.98%	-14.32%
Cash & Equivalents	$779.5K	$1.942M	$1.942M
Short-Term Investments	$1.080M	$1.010M	$1.020M
Other Short-Term Assets	$940.0K	$790.0K	$670.0K
YoY Change	18.99%	21.54%	13.56%
Inventory	$2.700M	$1.880M	$1.910M
Prepaid Expenses
Receivables	$7.978M	$6.394M	$4.629M
Other Receivables	$550.0K	$750.0K	$1.000M
Total Short-Term Assets	$14.67M	$12.87M	$11.68M
YoY Change	13.95%	-1.29%	-11.8%
LONG-TERM ASSETS
Property, Plant & Equipment	$5.954M	$4.283M	$4.131M
YoY Change	38.99%	1.3%	-4.19%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets	$193.0K	$261.0K	$307.1K
YoY Change	-26.08%	-1.42%	11.25%
Total Long-Term Assets	$6.146M	$4.544M	$4.438M
YoY Change	35.26%	1.14%	-3.26%
TOTAL ASSETS
Total Short-Term Assets	$14.67M	$12.87M	$11.68M
Total Long-Term Assets	$6.146M	$4.544M	$4.438M
Total Assets	$20.81M	$17.41M	$16.12M
YoY Change	19.51%	-0.66%	-9.6%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$2.498M	$1.833M	$1.239M
YoY Change	36.24%	30.86%	-11.86%
Accrued Expenses	$1.010M	$732.9K	$667.0K
YoY Change	37.85%	-42.61%	-40.12%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00	$0.00
YoY Change
Long-Term Debt Due	$750.0K	$360.0K	$360.0K
YoY Change	108.33%		-5.26%
Total Short-Term Liabilities	$5.701M	$4.530M	$3.357M
YoY Change	25.86%	33.41%	-7.38%
LONG-TERM LIABILITIES
Long-Term Debt	$2.280M	$2.050M	$2.140M
YoY Change	11.22%	-14.94%	-14.4%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities	$2.280M	$2.050M	$2.140M
YoY Change	11.22%	-14.94%	-14.4%
TOTAL LIABILITIES
Total Short-Term Liabilities	$5.701M	$4.530M	$3.357M
Total Long-Term Liabilities	$2.280M	$2.050M	$2.140M
Total Liabilities	$9.074M	$7.218M	$6.155M
YoY Change	25.7%	13.1%	-8.52%
SHAREHOLDERS EQUITY
Retained Earnings	$6.672M	$5.213M	$4.968M
YoY Change	27.98%	-15.55%	-19.13%
Common Stock	$49.20K	$48.94K	$48.94K
YoY Change	0.53%	0.25%	0.25%
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	$11.74M	$10.20M	$9.968M
YoY Change
Total Liabilities & Shareholders Equity	$20.81M	$17.41M	$16.12M
YoY Change	19.51%	-0.66%	-9.6%

Cashflow Statement

Concept	2016 Q2	2015 Q2	2015 Q1
OPERATING ACTIVITIES
Net Income	$418.9K	$244.9K	-$524.4K
YoY Change	71.09%	716.71%	59.61%
Depreciation, Depletion And Amortization	$190.0K	$160.0K	$169.2K
YoY Change	18.75%	0.0%	11.81%
Cash From Operating Activities	$500.0K	$80.00K	-$1.035M
YoY Change	525.0%	-38.46%	1445.55%
INVESTING ACTIVITIES
Capital Expenditures	-$290.0K	-$320.0K	$193.7K
YoY Change	-9.38%	300.0%	38.38%
Acquisitions
YoY Change
Other Investing Activities	-$10.00K	$0.00	$0.00
YoY Change		-100.0%	-100.0%
Cash From Investing Activities	-$300.0K	-$310.0K	-$197.4K
YoY Change	-3.23%	342.86%	33.48%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	150.0K	-90.00K	-$70.51K
YoY Change	-266.67%	0.0%	88.54%
NET CHANGE
Cash From Operating Activities	500.0K	80.00K	-$1.035M
Cash From Investing Activities	-300.0K	-310.0K	-$197.4K
Cash From Financing Activities	150.0K	-90.00K	-$70.51K
Net Change In Cash	350.0K	-320.0K	-$1.303M
YoY Change	-209.38%	966.67%	416.57%
FREE CASH FLOW
Cash From Operating Activities	$500.0K	$80.00K	-$1.035M
Capital Expenditures	-$290.0K	-$320.0K	$193.7K
Free Cash Flow	$790.0K	$400.0K	-$1.229M
YoY Change	97.5%	90.48%	493.73%

Facts In Submission

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	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q2
	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2016
	dei	Document Period End Date DocumentPeriodEndDate	2016-06-30
	dei	Document Type DocumentType	10-Q
	dei	Entity Central Index Key EntityCentralIndexKey	0000924719
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	dei	Entity Filer Category EntityFilerCategory	Smaller Reporting Company
	dei	Entity Registrant Name EntityRegistrantName	SMITH MIDLAND CORP
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CY2016Q2	us-gaap	Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax	19327	USD
	us-gaap	Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax	24790	USD
CY2015Q2	us-gaap	Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax	4000	USD
	us-gaap	Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax	6000	USD
CY2016Q2	us-gaap	Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax	8000	USD
	us-gaap	Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax	10000	USD
CY2015Q2	us-gaap	Other Income OtherIncome	3949	USD
	us-gaap	Other Income OtherIncome	14556	USD
CY2016Q2	us-gaap	Other Income OtherIncome	10566	USD
	us-gaap	Other Income OtherIncome	17459	USD
CY2015Q2	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	-22921	USD
	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	-49422	USD
CY2016Q2	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	-14431	USD
	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	-33344	USD
	us-gaap	Payments To Acquire Available For Sale Securities PaymentsToAcquireAvailableForSaleSecurities	17943	USD
	us-gaap	Payments To Acquire Available For Sale Securities PaymentsToAcquireAvailableForSaleSecurities	23712	USD
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	506893	USD
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	1260659	USD
CY2015Q4	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.01
CY2016Q2	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.01
CY2015Q4	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	1000000	shares
CY2016Q2	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	1000000	shares
CY2015Q4	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0	shares
CY2016Q2	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0	shares
CY2015Q4	us-gaap	Preferred Stock Value PreferredStockValue	0	USD
CY2016Q2	us-gaap	Preferred Stock Value PreferredStockValue	0	USD
CY2015Q4	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	194429	USD
CY2016Q2	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	384901	USD
CY2015Q4	us-gaap	Prepaid Taxes PrepaidTaxes	383820	USD
CY2016Q2	us-gaap	Prepaid Taxes PrepaidTaxes	542190	USD
	us-gaap	Proceeds From Notes Payable ProceedsFromNotesPayable	0	USD
	us-gaap	Proceeds From Notes Payable ProceedsFromNotesPayable	715131	USD
	us-gaap	Proceeds From Sale Of Property Plant And Equipment ProceedsFromSaleOfPropertyPlantAndEquipment	15421	USD
	us-gaap	Proceeds From Sale Of Property Plant And Equipment ProceedsFromSaleOfPropertyPlantAndEquipment	14043	USD
	us-gaap	Proceeds From Stock Options Exercised ProceedsFromStockOptionsExercised	21100	USD
	us-gaap	Proceeds From Stock Options Exercised ProceedsFromStockOptionsExercised	0	USD
CY2015Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	5073867	USD
CY2016Q2	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	5953514	USD
	us-gaap	Provision For Doubtful Accounts ProvisionForDoubtfulAccounts	-95261	USD
	us-gaap	Provision For Doubtful Accounts ProvisionForDoubtfulAccounts	-30801	USD
	us-gaap	Repayments Of Debt And Capital Lease Obligations RepaymentsOfDebtAndCapitalLeaseObligations	183979	USD
CY2015Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	6342386	USD
CY2016Q2	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	6671533	USD
CY2015Q2	us-gaap	Sales Revenue Net SalesRevenueNet	6897565	USD
	us-gaap	Sales Revenue Net SalesRevenueNet	11097690	USD
CY2016Q2	us-gaap	Sales Revenue Net SalesRevenueNet	9640019	USD
	us-gaap	Sales Revenue Net SalesRevenueNet	17695103	USD
CY2015Q2	us-gaap	Selling And Marketing Expense SellingAndMarketingExpense	514760	USD
	us-gaap	Selling And Marketing Expense SellingAndMarketingExpense	1018774	USD
CY2016Q2	us-gaap	Selling And Marketing Expense SellingAndMarketingExpense	537696	USD
	us-gaap	Selling And Marketing Expense SellingAndMarketingExpense	1128502	USD
CY2016Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber	130933	shares
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod	60000	shares
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice	2.21
	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
CY2015Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber	190933	shares
CY2016Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber	130933	shares
CY2015Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice	1.77
CY2016Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice	1.56
CY2016Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice	1.56
	us-gaap	Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice	0.00
CY2016Q2	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1 SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1	116000	USD
	us-gaap	Stock Issued During Period Shares Stock Options Exercised StockIssuedDuringPeriodSharesStockOptionsExercised	0	shares
CY2015Q4	us-gaap	Stockholders Equity StockholdersEquity	11390322	USD
CY2016Q2	us-gaap	Stockholders Equity StockholdersEquity	11738276	USD
CY2015Q4	us-gaap	Treasury Stock Shares TreasuryStockShares	40920	shares
CY2016Q2	us-gaap	Treasury Stock Shares TreasuryStockShares	40920	shares
CY2015Q4	us-gaap	Treasury Stock Value TreasuryStockValue	102300	USD
CY2016Q2	us-gaap	Treasury Stock Value TreasuryStockValue	102300	USD
CY2015Q2	us-gaap	Weighted Average Number Diluted Shares Outstanding Adjustment WeightedAverageNumberDilutedSharesOutstandingAdjustment	45548	shares
	us-gaap	Weighted Average Number Diluted Shares Outstanding Adjustment WeightedAverageNumberDilutedSharesOutstandingAdjustment	0	shares
CY2016Q2	us-gaap	Weighted Average Number Diluted Shares Outstanding Adjustment WeightedAverageNumberDilutedSharesOutstandingAdjustment	47511	shares
	us-gaap	Weighted Average Number Diluted Shares Outstanding Adjustment WeightedAverageNumberDilutedSharesOutstandingAdjustment	51221	shares
CY2015Q2	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	4938234	shares
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	4892686	shares
CY2016Q2	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	4967059	shares
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	4970769	shares
CY2015Q2	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	4892686	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	4892686	shares
CY2016Q2	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	4919548	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	4919548	shares
	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></div></div>
	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 consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period.  Actual results could differ from those estimates.</font></div></div>

Files In Submission

Name	View Source	Status
0000924719-16-000064-index-headers.html	Edgar Link	pending
0000924719-16-000064-index.html	Edgar Link	pending
0000924719-16-000064.txt	Edgar Link	pending
0000924719-16-000064-xbrl.zip	Edgar Link	pending
FilingSummary.xml	Edgar Link	unprocessable
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
R18.htm	Edgar Link	pending
R19.htm	Edgar Link	pending
R2.htm	Edgar Link	pending
R20.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-20160630.xml	Edgar Link	completed
smid-20160630.xsd	Edgar Link	pending
smid-20160630_cal.xml	Edgar Link	unprocessable
smid-20160630_def.xml	Edgar Link	unprocessable
smid-20160630_lab.xml	Edgar Link	unprocessable
smid-20160630_pre.xml	Edgar Link	unprocessable
smid-2016630x10xq.htm	Edgar Link	pending
smid-2016630xex311.htm	Edgar Link	pending
smid-2016630xex312.htm	Edgar Link	pending
smid-2016630xex321.htm	Edgar Link	pending

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$SMID
SMITH MIDLAND CORP Stock $smid

2016 Q2 Form 10-Q Financial Statement

#000092471916000064 Filed on August 11, 2016

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$SMID SMITH MIDLAND CORP Stock $smid

2016 Q2 Form 10-Q Financial Statement

#000092471916000064 Filed on August 11, 2016

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$SMID
SMITH MIDLAND CORP Stock $smid