| Income Statement for Schmitt Industries Inc. (SMIT) | | | | | | | Income | in Thousands of Dollars | | | 05/2008 | 05/2007 | 05/2006 | 05/2005 | 05/2004 | | | Operating Revenue | 11,421 | 11,882 | 11,503 | 10,530 | 7,925 | | Adjustments to Revenue | - | - | - | - | - | | Cost of Revenue | (5,066) | (5,048) | (4,819) | (4,246) | (3,217) | | Gross Operating Profit | 6,355 | 6,834 | 6,684 | 6,285 | 4,707 | | | Selling/General/Admin Expense | (4,628) | (4,771) | (4,658) | (4,814) | (4,051) | | Research & Development | (628) | (88) | (82) | (42) | (30) | | EBITDA | 1,099 | 1,974 | 1,944 | 1,428 | 626 | | Depreciation & Amortization | (239) | (206) | (211) | (215) | (188) | | EBIT | 860 | 1,768 | 1,734 | 1,213 | 437 | | Interest Income | - | - | - | - | 1 | | Other Income, Net | 251 | 226 | 50 | (211) | 90 | | Total Income Avail For Interest Expense | 1,111 | 1,995 | 1,784 | 1,002 | 521 | | Interest Expense | - | - | - | - | (4) | | Pre-Tax Income | 1,111 | 1,995 | 1,784 | 1,002 | 517 | | Income Taxes | (8) | (710) | (434) | 606 | - | | Minority Interest | - | - | - | - | - | | Net Income from Continuing Operations | 1,103 | 1,285 | 1,350 | 1,608 | 517 | | Net Income from Discontinued Operations | - | - | - | - | - | | Net Income from Total Operations | 1,103 | 1,285 | 1,350 | 1,608 | 517 | | | Normalized Income | 1,103 | 1,285 | 1,350 | 1,608 | 523 | | Extraordinary Income | - | - | - | - | - | | Special Income/Charges | - | - | - | - | (7) | | Income from Cum. Effect of Acct Change | - | - | - | - | - | | Income from Tax Loss Carryforward | - | - | - | - | - | | Other Gains | - | - | - | - | - | | Total Net Income | 1,103 | 1,285 | 1,350 | 1,608 | 517 | | | Results | in Dollars (Preferred Dividends in Thousands) | | | 05/2008 | 05/2007 | 05/2006 | 05/2005 | 05/2004 | | | Dividends Paid Per Share | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | | Preferred Dividends | - | - | - | - | - | | | Basic EPS from Continuing Operations | 0.40 | 0.47 | 0.52 | 0.64 | 0.21 | | Basic EPS from Discontinued Operations | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | | Basic EPS from Total Operations | 0.40 | 0.47 | 0.52 | 0.64 | 0.21 | | | Diluted EPS from Continuing Operations | 0.39 | 0.47 | 0.52 | 0.59 | 0.21 | | Diluted EPS from Discontinued Operations | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | | Diluted EPS from Total Operations | 0.39 | 0.47 | 0.52 | 0.59 | 0.21 | | | |
