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SMC Announces Financial Results For The Quarter Ended September 30, 2010

Smith-Midland Corporation (OTCBB:SMID) announced the Company reported total revenue of approximately $9.0 million for the three months ended September 30, 2010, and pre-tax earnings of $1.4 million, as compared to total revenue of $7.6 million and pre-tax earnings of $763,000 for the same period in 2009. The Company had net income of $901,000 for the three months ended September 30, 2010, as compared to net income of $491,000 for the same period in 2009. Fully diluted earnings per share were $.19 for the three months ended September 30, 2010 and $.10 for the same period in 2009.

For the nine months ended September 30, 2010, the Company reported total revenue of $23.0 million and pre-tax earnings of $3.1 million as compared to total revenue of $24.3 million and pre-tax earnings of $3.5 million for the same period in 2009. The Company had net income of $1.9 million for the nine months ended September 31, 2010, as compared to net income of $2.1 for the same period in 2009. Fully diluted earnings per share were $.40 for the nine months ended September 30, 2010 and $.45 for the same period in 2009.

Rodney Smith, Chairman and CEO, said, “Smith-Midland is pleased to report excellent earnings for the three and nine months periods ended September 30, 2010. Having just recently celebrated our 50 th anniversary as a leading provider of precast products in North America, we expect to continue on our strong earnings trend throughout the remainder of 2010. The Company’s significant profitability is a result of its commitment to R&D, product diversification and its lean manufacturing initiative. Our earnings set us apart at a time when the precast industry, as a whole, is struggling.”

Smith-Midland develops, manufactures, licenses, rents, and sells a broad array of precast concrete products for use primarily in the construction, transportation and utilities industries.

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