PORTLAND, Ore., April 9, 2013 (GLOBE NEWSWIRE) -- Schmitt Industries, Inc. (Nasdaq:SMIT) today announced its operating results for the three and nine months ended February 28, 2013. Sales for the three months ended February 28, 2013 decreased $360,068, or 11.4%, to $2,796,429 as compared to $3,156,497 for the same period last year. Sales for the nine months ended February 28, 2013 decreased $924,854, or 9.2%, to $9,179,353 as compared to $10,104,207 for the same period last year. Net loss for the third quarter ended February 28, 2013 was $191,104, or $.06 per diluted share, as compared to net income of $12,621, or $.00 per diluted share, for the same period last year. Net loss for the nine months ended February 28, 2013 was $175,560, or $.06 per diluted share, as compared to net income of $71,473, or $.02 per diluted share, for the same period in the prior year.
Schmitt Industries Announces Third Quarter Fiscal 2013 Operating Results
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