$SMID
SMITH MIDLAND CORP Stock $smid

$smid Overview Financials Valuation SEC Filings Company Website

2016 Q4 Form 10-Q Financial Statement

#000092471916000074 Filed on November 14, 2016

Income Statement

Concept	2016 Q4	2016 Q3	2015 Q3
Revenue	$9.960M	$9.497M	$10.40M
YoY Change	29.35%	-8.71%	74.11%
Cost Of Revenue	$7.080M	$6.181M	$7.280M
YoY Change	19.8%	-15.1%	63.43%
Gross Profit	$2.880M	$3.316M	$3.123M
YoY Change	60.89%	6.18%	105.4%
Gross Profit Margin	28.92%	34.92%	30.02%
Selling, General & Admin	$1.690M	$1.960M	$1.366M
YoY Change	10.46%	43.44%	4.22%
% of Gross Profit	58.68%	59.11%	43.75%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$250.0K	$190.0K	$170.0K
YoY Change	47.06%	11.76%	6.25%
% of Gross Profit	8.68%	5.73%	5.44%
Operating Expenses	$1.740M	$1.960M	$1.366M
YoY Change	17.57%	43.44%	4.22%
Operating Profit	$1.140M	$1.356M	$1.770M
YoY Change	267.74%	-23.37%	716.34%
Interest Expense	-$40.00K	$46.00K	$26.60K
YoY Change	300.0%	72.91%	-8.24%
% of Operating Profit	-3.51%	3.39%	1.5%
Other Income/Expense, Net	$50.00K	-$13.00K	-$7.541K
YoY Change		72.39%	-74.25%
Pretax Income	$1.170M	$1.343M	$1.762M
YoY Change	290.0%	-23.78%	839.81%
Income Tax	$350.0K	$486.0K	$610.0K
% Of Pretax Income	29.91%	36.19%	34.62%
Net Earnings	$810.0K	$857.0K	$1.152M
YoY Change	376.47%	-25.61%	924.14%
Net Earnings / Revenue	8.13%	9.02%	11.07%
Basic Earnings Per Share		$0.34	$0.24
Diluted Earnings Per Share	$150.3K	$0.17	$0.23
COMMON SHARES
Basic Shares Outstanding	4.919M shares	5.009M shares	4.894M shares
Diluted Shares Outstanding		5.052M shares	4.946M shares

Balance Sheet

Concept	2016 Q4	2016 Q3	2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments	$4.570M	$2.030M	$2.020M
YoY Change	64.39%	0.5%	-61.45%
Cash & Equivalents	$3.523M	$4.424M	$991.1K
Short-Term Investments	$1.050M	$1.080M	$1.030M
Other Short-Term Assets	$370.0K	$1.060M	$860.0K
YoY Change	-56.98%	23.26%	3.61%
Inventory	$2.580M	$2.510M	$2.170M
Prepaid Expenses
Receivables	$7.188M	$9.978M	$10.26M
Other Receivables	$250.0K	$30.00K	$70.00K
Total Short-Term Assets	$15.23M	$15.89M	$15.47M
YoY Change	12.77%	2.75%	19.34%
LONG-TERM ASSETS
Property, Plant & Equipment	$8.007M	$7.794M	$4.465M
YoY Change	57.81%	74.56%	5.2%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets	$173.0K	$183.0K	$269.3K
YoY Change	-35.62%	-32.05%	-0.66%
Total Long-Term Assets	$8.180M	$7.977M	$4.734M
YoY Change	53.11%	68.5%	4.85%
TOTAL ASSETS
Total Short-Term Assets	$15.23M	$15.89M	$15.47M
Total Long-Term Assets	$8.180M	$7.977M	$4.734M
Total Assets	$23.41M	$23.87M	$20.20M
YoY Change	24.2%	18.15%	15.6%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$2.091M	$2.011M	$2.812M
YoY Change	19.9%	-28.49%	95.11%
Accrued Expenses	$294.0K	$1.412M	$1.159M
YoY Change	-69.84%	21.87%	-9.34%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$350.0K	$0.00
YoY Change
Long-Term Debt Due	$590.0K	$640.0K	$370.0K
YoY Change	34.09%	72.97%	0.0%
Total Short-Term Liabilities	$5.059M	$6.181M	$6.204M
YoY Change	11.72%	-0.37%	83.01%
LONG-TERM LIABILITIES
Long-Term Debt	$3.350M	$3.100M	$2.050M
YoY Change	61.06%	51.22%	-11.64%
Other Long-Term Liabilities	$0.00	$0.00
YoY Change
Total Long-Term Liabilities	$3.350M	$3.100M	$2.050M
YoY Change	61.06%	51.22%	-11.64%
TOTAL LIABILITIES
Total Short-Term Liabilities	$5.059M	$6.181M	$6.204M
Total Long-Term Liabilities	$3.350M	$3.100M	$2.050M
Total Liabilities	$9.169M	$10.40M	$8.851M
YoY Change	22.91%	17.54%	42.51%
SHAREHOLDERS EQUITY
Retained Earnings	$9.128M	$8.363M	$6.363M
YoY Change	43.92%	31.42%	1.24%
Common Stock	$50.00K	$49.60K	$48.94K
YoY Change	1.64%	1.35%	0.25%
Preferred Stock
YoY Change
Treasury Stock (at cost)	$102.0K	$102.3K	$102.3K
YoY Change	-0.29%	0.0%	0.0%
Treasury Stock Shares	40.92K shares	40.92K shares	40.92K shares
Shareholders Equity	$14.24M	$13.47M	$11.35M
YoY Change
Total Liabilities & Shareholders Equity	$23.41M	$23.87M	$20.20M
YoY Change	24.2%	18.15%	15.6%

Cashflow Statement

Concept	2016 Q4	2016 Q3	2015 Q3
OPERATING ACTIVITIES
Net Income	$810.0K	$857.0K	$1.152M
YoY Change	376.47%	-25.61%	924.14%
Depreciation, Depletion And Amortization	$250.0K	$190.0K	$170.0K
YoY Change	47.06%	11.76%	6.25%
Cash From Operating Activities	$3.110M	$1.100M	-$600.0K
YoY Change	96.84%	-283.33%	-135.93%
INVESTING ACTIVITIES
Capital Expenditures	-$460.0K	-$2.030M	-$350.0K
YoY Change	-41.03%	480.0%	94.44%
Acquisitions
YoY Change
Other Investing Activities	$40.00K	$0.00	$0.00
YoY Change	-500.0%		-100.0%
Cash From Investing Activities	-$410.0K	-$2.030M	-$360.0K
YoY Change	-47.44%	463.89%	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	-130.0K	1.110M	0.000
YoY Change	160.0%		-100.0%
NET CHANGE
Cash From Operating Activities	3.110M	1.100M	-600.0K
Cash From Investing Activities	-410.0K	-2.030M	-360.0K
Cash From Financing Activities	-130.0K	1.110M	0.000
Net Change In Cash	2.570M	180.0K	-960.0K
YoY Change	242.67%	-118.75%	-169.06%
FREE CASH FLOW
Cash From Operating Activities	$3.110M	$1.100M	-$600.0K
Capital Expenditures	-$460.0K	-$2.030M	-$350.0K
Free Cash Flow	$3.570M	$3.130M	-$250.0K
YoY Change	51.27%	-1352.0%	-113.51%

Facts In Submission

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	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	2016
	dei	Document Period End Date DocumentPeriodEndDate	2016-09-30
	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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CY2016Q3	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	182970	USD
CY2015Q3	us-gaap	Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax	3368	USD
	us-gaap	Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax	-12771	USD
CY2016Q3	us-gaap	Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax	-7017	USD
	us-gaap	Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax	7773	USD
CY2015Q3	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	8000	USD
CY2016Q3	us-gaap	Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax	5000	USD
	us-gaap	Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax	5000	USD
CY2015Q3	us-gaap	Other Income OtherIncome	9009	USD
	us-gaap	Other Income OtherIncome	23565	USD
CY2016Q3	us-gaap	Other Income OtherIncome	33770	USD
	us-gaap	Other Income OtherIncome	51229	USD
CY2015Q3	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	-7541	USD
	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	-56963	USD
CY2016Q3	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	-50126	USD
	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	-83470	USD
	us-gaap	Payments To Acquire Available For Sale Securities PaymentsToAcquireAvailableForSaleSecurities	27519	USD
	us-gaap	Payments To Acquire Available For Sale Securities PaymentsToAcquireAvailableForSaleSecurities	31990	USD
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	864814	USD
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	3289669	USD
CY2015Q4	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.01
CY2016Q3	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.01
CY2015Q4	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	1000000	shares
CY2016Q3	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	1000000	shares
CY2015Q4	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0	shares
CY2016Q3	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0	shares
CY2015Q4	us-gaap	Preferred Stock Value PreferredStockValue	0	USD
CY2016Q3	us-gaap	Preferred Stock Value PreferredStockValue	0	USD
CY2015Q4	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	194429	USD
CY2016Q3	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	390888	USD
CY2015Q4	us-gaap	Prepaid Taxes PrepaidTaxes	383820	USD
CY2016Q3	us-gaap	Prepaid Taxes PrepaidTaxes	28223	USD
	us-gaap	Proceeds From Lines Of Credit ProceedsFromLinesOfCredit	0	USD
	us-gaap	Proceeds From Lines Of Credit ProceedsFromLinesOfCredit	1450000	USD
	us-gaap	Proceeds From Notes Payable ProceedsFromNotesPayable	97005	USD
	us-gaap	Proceeds From Notes Payable ProceedsFromNotesPayable	1887322	USD
	us-gaap	Proceeds From Sale Of Property Plant And Equipment ProceedsFromSaleOfPropertyPlantAndEquipment	23731	USD
	us-gaap	Proceeds From Sale Of Property Plant And Equipment ProceedsFromSaleOfPropertyPlantAndEquipment	20296	USD
	us-gaap	Proceeds From Stock Options Exercised ProceedsFromStockOptionsExercised	21101	USD
	us-gaap	Proceeds From Stock Options Exercised ProceedsFromStockOptionsExercised	48400	USD
CY2015Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	5073867	USD
CY2016Q3	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	7793638	USD
	us-gaap	Repayments Of Debt And Capital Lease Obligations RepaymentsOfDebtAndCapitalLeaseObligations	275114	USD
	us-gaap	Repayments Of Debt And Capital Lease Obligations RepaymentsOfDebtAndCapitalLeaseObligations	310357	USD
	us-gaap	Repayments Of Lines Of Credit RepaymentsOfLinesOfCredit	0	USD
	us-gaap	Repayments Of Lines Of Credit RepaymentsOfLinesOfCredit	1450000	USD
CY2015Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	6342386	USD
CY2016Q3	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	8362841	USD
CY2015Q3	us-gaap	Sales Revenue Net SalesRevenueNet	10403417	USD
	us-gaap	Sales Revenue Net SalesRevenueNet	21501107	USD
CY2016Q3	us-gaap	Sales Revenue Net SalesRevenueNet	12396001	USD
	us-gaap	Sales Revenue Net SalesRevenueNet	30091104	USD
CY2015Q3	us-gaap	Selling And Marketing Expense SellingAndMarketingExpense	558212	USD
	us-gaap	Selling And Marketing Expense SellingAndMarketingExpense	1576986	USD
CY2016Q3	us-gaap	Selling And Marketing Expense SellingAndMarketingExpense	501269	USD
	us-gaap	Selling And Marketing Expense SellingAndMarketingExpense	1629771	USD
CY2016Q3	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber	90933	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
CY2016Q3	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber	90933	shares
CY2015Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice	1.77
CY2016Q3	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice	1.72
CY2016Q3	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice	1.72
	us-gaap	Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice	1.21
CY2016Q3	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1 SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1	67000	USD
	us-gaap	Stock Issued During Period Shares Stock Options Exercised StockIssuedDuringPeriodSharesStockOptionsExercised	40000	shares
CY2015Q4	us-gaap	Stockholders Equity StockholdersEquity	11390322	USD
CY2016Q3	us-gaap	Stockholders Equity StockholdersEquity	13465967	USD
CY2015Q4	us-gaap	Treasury Stock Shares TreasuryStockShares	40920	shares
CY2016Q3	us-gaap	Treasury Stock Shares TreasuryStockShares	40920	shares
CY2015Q4	us-gaap	Treasury Stock Value TreasuryStockValue	102300	USD
CY2016Q3	us-gaap	Treasury Stock Value TreasuryStockValue	102300	USD
CY2015Q3	us-gaap	Weighted Average Number Diluted Shares Outstanding Adjustment WeightedAverageNumberDilutedSharesOutstandingAdjustment	52197	shares
	us-gaap	Weighted Average Number Diluted Shares Outstanding Adjustment WeightedAverageNumberDilutedSharesOutstandingAdjustment	51008	shares
CY2016Q3	us-gaap	Weighted Average Number Diluted Shares Outstanding Adjustment WeightedAverageNumberDilutedSharesOutstandingAdjustment	40599	shares
	us-gaap	Weighted Average Number Diluted Shares Outstanding Adjustment WeightedAverageNumberDilutedSharesOutstandingAdjustment	34107	shares
CY2015Q3	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	4945745	shares
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	4943985	shares
CY2016Q3	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	4964965	shares
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	4958473	shares
CY2015Q3	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	4893548	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	4892977	shares
CY2016Q3	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	4924366	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	4924366	shares
	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
0000924719-16-000074-index-headers.html	Edgar Link	pending
0000924719-16-000074-index.html	Edgar Link	pending
0000924719-16-000074.txt	Edgar Link	pending
0000924719-16-000074-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
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-20160930.xml	Edgar Link	completed
smid-20160930.xsd	Edgar Link	pending
smid-20160930_cal.xml	Edgar Link	unprocessable
smid-20160930_def.xml	Edgar Link	unprocessable
smid-20160930_lab.xml	Edgar Link	unprocessable
smid-20160930_pre.xml	Edgar Link	unprocessable
smid-2016930x10xq.htm	Edgar Link	pending
smid-2016930xex311.htm	Edgar Link	pending
smid-2016930xex312.htm	Edgar Link	pending
smid-2016930xex321.htm	Edgar Link	pending

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$SMID
SMITH MIDLAND CORP Stock $smid

2016 Q4 Form 10-Q Financial Statement

#000092471916000074 Filed on November 14, 2016

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$SMID SMITH MIDLAND CORP Stock $smid

2016 Q4 Form 10-Q Financial Statement

#000092471916000074 Filed on November 14, 2016

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$SMID
SMITH MIDLAND CORP Stock $smid