Schmitt Announces First Quarter Fiscal 2022 Operating Results
Retrieved on:
Wednesday, October 20, 2021
PORTLAND,Ore., Oct. 20, 2021 /PRNewswire/ -- Schmitt Industries, Inc. (NASDAQ: SMIT) (the "Company" or "Schmitt") today announced its operating results for the fiscal quarter ended August 31, 2021.
Key Points:
- PORTLAND,Ore., Oct. 20, 2021 /PRNewswire/ -- Schmitt Industries, Inc. (NASDAQ: SMIT) (the "Company" or "Schmitt") today announced its operating results for the fiscal quarter ended August 31, 2021.
- The operating results for the three months ended August 31, 2021 and August 30, 2020 include financial results from Schmitt's July 9, 2020 acquisition of Ample Hills Creamery ("Ample Hills").
- The increase was primarily due to the inclusion of a partial quarter for the three months ended August 31, 2020, as the acquisition occurred on July 9, 2020.
- Operating expenses increased $1,910,615, or 85.7%, to $4,139,951 for the three months ended August 31, 2021, as compared to $2,229,336 for the three months ended August 31, 2020.