$SMID
SMITH MIDLAND CORP

2024 Q1 Form 10-Q Financial Statement

#000165495424007614 Filed on June 11, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4
Revenue $16.76M $16.39M
YoY Change 30.48% 13.13%
Cost Of Revenue $12.85M $13.27M
YoY Change 20.32% 10.74%
Gross Profit $3.911M $3.123M
YoY Change 80.56% 24.52%
Gross Profit Margin 23.34% 19.06%
Selling, General & Admin $2.402M $2.581M
YoY Change 13.73% -0.04%
% of Gross Profit 61.42% 82.64%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $641.0K $599.0K
YoY Change 7.91% -20.56%
% of Gross Profit 16.39% 19.18%
Operating Expenses $2.402M $2.581M
YoY Change 13.73% -0.04%
Operating Profit $1.509M $542.0K
YoY Change 2694.44% -832.43%
Interest Expense $60.00K -$56.00K
YoY Change -6.25% -17.65%
% of Operating Profit 3.98% -10.33%
Other Income/Expense, Net -$5.000K $18.00K
YoY Change -110.2% -10.0%
Pretax Income $1.504M $598.0K
YoY Change 1360.19% -658.88%
Income Tax $357.0K $368.0K
% Of Pretax Income 23.74% 61.54%
Net Earnings $1.147M $230.0K
YoY Change 1333.75% 5650.0%
Net Earnings / Revenue 6.85% 1.4%
Basic Earnings Per Share $0.22
Diluted Earnings Per Share $0.21 $0.04
COMMON SHARES
Basic Shares Outstanding 5.309M shares 5.257M shares
Diluted Shares Outstanding 5.350M shares

Balance Sheet

Concept 2024 Q1 2023 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $6.801M $9.175M
YoY Change 72.79% 36.41%
Cash & Equivalents $6.801M $9.175M
Short-Term Investments
Other Short-Term Assets $1.246M $1.266M
YoY Change 60.57% 79.32%
Inventory $6.951M $5.150M
Prepaid Expenses $1.246M $1.266M
Receivables $20.06M $17.73M
Other Receivables $0.00 $0.00
Total Short-Term Assets $35.69M $33.33M
YoY Change 16.71% 15.15%
LONG-TERM ASSETS
Property, Plant & Equipment $28.83M $27.68M
YoY Change 12.27% 10.17%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $337.0K $343.0K
YoY Change 38.68% 37.75%
Total Long-Term Assets $29.16M $28.02M
YoY Change 12.52% 10.44%
TOTAL ASSETS
Total Short-Term Assets $35.69M $33.33M
Total Long-Term Assets $29.16M $28.02M
Total Assets $64.85M $61.35M
YoY Change 14.79% 12.95%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.944M $7.336M
YoY Change 7.83% 26.13%
Accrued Expenses $1.900M $831.0K
YoY Change 31.12% -50.06%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $640.0K $636.0K
YoY Change 0.63% 2.91%
Total Short-Term Liabilities $17.39M $16.02M
YoY Change 31.84% 42.71%
LONG-TERM LIABILITIES
Long-Term Debt $4.931M $5.092M
YoY Change -11.28% -11.13%
Other Long-Term Liabilities $5.572M $4.426M
YoY Change 122.08% 99.46%
Total Long-Term Liabilities $10.50M $9.518M
YoY Change 30.2% 19.74%
TOTAL LIABILITIES
Total Short-Term Liabilities $17.39M $16.02M
Total Long-Term Liabilities $10.50M $9.518M
Total Liabilities $29.54M $27.19M
YoY Change 26.55% 27.89%
SHAREHOLDERS EQUITY
Retained Earnings $27.54M $26.40M
YoY Change 7.25% 2.85%
Common Stock $54.00K $54.00K
YoY Change 1.89% 1.89%
Preferred Stock
YoY Change
Treasury Stock (at cost) $102.0K
YoY Change 0.0%
Treasury Stock Shares
Shareholders Equity $35.31M $34.16M
YoY Change
Total Liabilities & Shareholders Equity $64.85M $61.35M
YoY Change 14.79% 12.95%

Cashflow Statement

Concept 2024 Q1 2023 Q4
OPERATING ACTIVITIES
Net Income $1.147M $230.0K
YoY Change 1333.75% 5650.0%
Depreciation, Depletion And Amortization $641.0K $599.0K
YoY Change 7.91% -20.56%
Cash From Operating Activities -$777.0K $4.272M
YoY Change -50.03% -242.35%
INVESTING ACTIVITIES
Capital Expenditures $1.795M $880.0K
YoY Change 54.21% -188.89%
Acquisitions
YoY Change
Other Investing Activities $355.0K $96.00K
YoY Change 332.93% -105.07%
Cash From Investing Activities -$1.440M -$784.0K
YoY Change 33.09% -13.27%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $157.0K
YoY Change 2.61%
Cash From Financing Activities -$157.0K -159.0K
YoY Change 2.61% -10.17%
NET CHANGE
Cash From Operating Activities -$777.0K 4.272M
Cash From Investing Activities -$1.440M -784.0K
Cash From Financing Activities -$157.0K -159.0K
Net Change In Cash -$2.374M 3.329M
YoY Change -14.91% -181.55%
FREE CASH FLOW
Cash From Operating Activities -$777.0K $4.272M
Capital Expenditures $1.795M $880.0K
Free Cash Flow -$2.572M $3.392M
YoY Change -5.41% -268.67%

Facts In Submission

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CY2024Q1 dei Entity Registrant Name
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CY2024Q1 dei Entity Incorporation State Country Code
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CY2024Q1 dei Entity Tax Identification Number
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CY2024Q1 dei Entity Address Address Line1
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CY2024Q1 dei City Area Code
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CY2024Q1 dei Security12b Title
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