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MIDLAND, Va. Smith-Midland Corporation (OTCBB: SMID) announced the Company reported
total revenue of approximately $7.6 million and pre-tax earnings of
$291,000 for the three months ended March 31, 2011, as compared to total
revenue of $6.4 million and pre-tax earnings of $807,000 for the same
period in 2010. The Company had net income of $188,000 for the three
months ended March 31, 2011, as compared to net income of $500,000 for
the same period in 2010. Fully diluted earnings per share were $.04 for
the three months ended March 31, 2011 and $.10 for the same period in
2010.
Rodney Smith, Chairman and CEO said, “Smith-Midland is pleased to report
positive earnings for the three months ended March 31, 2011. Although
first quarter earnings were below that of the same period in 2010, the
company, as well the construction industry as a whole, is beginning to
see signs of improvement from both the private and public sectors in the
number of projects being financed and bid by owners and general
contractors. Although we have been awarded several large architectural
projects over the past few months, all of which will be produced in
2011, the Company’s overall performance during 2011 will depend on the
construction industry’s continued improvement, and how successful
Smith-Midland is in bidding and acquiring new contracts.”
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Article source: http://www.businesswire.com/news/home/20110513006122/en/SMC-Announces-Financial-Results-Quarter-Ended-March