Smith-Midland’s AJ Krick Finalist in the Virginia CFO of the Year Awards

Rhea-AI Summary

Smith-Midland Corporation (NASDAQ:SMID) has announced that its CFO, AJ Krick, was named a finalist in the 17th Annual Virginia Business CFO Awards. Among fifty-one nominees, AJ's leadership has been pivotal, achieving a 26% revenue growth and 350% net income growth. His contributions include enhancing productivity in key product lines, decreasing labor by 25%, and implementing efficient accounting processes. AJ's nomination highlights his significant impact on the company's financial health and operational efficiency.

Positive

• 26% revenue growth
• 350% net income growth
• Reduced product labor by 25%
• Improved team efficiency and productivity

Negative

• None.

MIDLAND, VA / ACCESSWIRE / June 28, 2022 / Smith-Midland Corporation (NASDAQ:SMID) provider of innovative, high-quality proprietary and patented precast concrete products and systems announced that out of fifty-one nominated Chief Financial Officers throughout Virginia, Smith-Midland's Chief Financial Officer (CFO), AJ Krick, was named as a finalist in the 17^th Annual Virginia Business CFO Awards.

With four categories ranging from small non-profit/government to large company, there was a very diverse and talented group for the publication to review and choose from. "The job of chief financial officer is a challenging one. They champion both growth and downsizing; they take on risk through acquisitions. They must have the highest degree of accountability, and they must provide CEOs with solid advice, whether the news is good or bad." said Virginia Business President and Publisher Bernie Niemeier during the presentation on June 16, 2022 in Richmond, Virginia.

AJ is a perfect example of those traits. Growing up in Fauquier County, he later earned his degree at James Madison University and worked as a CPA for several years before joining Smith-Midland as the accounting manager in 2014, later accepting the CFO position in 2018. Thinking like a business owner as well as a CFO, AJ Krick has distinguished himself as an invaluable asset to Smith-Midland Corporation.

He led a team last year that worked on improving the productivity and quality of one of our strongest product lines. Along with two associates, he worked hands-on in the production shop to breakdown the manufacturing process and rebuild a more efficient work procedure, decreasing product labor by 25 percent while improving product quality. AJ also heads the Human Resources Department, which includes Safety and Environmental.

Under his tenure, Smith-Midland has seen a 26 percent revenue growth and 350 percent net income growth. He has also been instrumental in consolidating processes within the accounting department to take days off turnaround time and created a daily huddle to connect and go over any issues or concerns, among other improvements. It has helped make it more team oriented and more efficient, benefiting both internal and external customers.

"It is no surprise to us that AJ was a finalist in his first year being nominated. Not only does he have a keen eye for financials and business, but he is always learning, open to new ideas and is a strong team player. I can count on his advice to always be in the best interest of the company and the employees." said Ashley Smith, Smith-Midland President and CEO.

About Smith-Midland

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. Management and the board own approximately five percent of SMID stock, aligning with shareholder values.

Smith-Midland Corporation has three manufacturing facilities located in Midland, VA, Reidsville, NC, and Columbia, SC, and Concrete Safety Systems, our J-J Hooks Safety Barrier rental division. Easi-Set Worldwide, a wholly owned subsidiary of Smith-Midland Corporation, licenses the production and sale of Easi-Set products, including J-J Hooks and SlenderWall, and provides diversification opportunities to the precast industry worldwide. For more information, please call (540) 439-3266 or visit www.smithmidland.com.

Media Inquiries:
scrandall@midlandadvertising.com
(540) 439-8056

Sales Inquiries:
info@smithmidland.com
(540) 439-3266

Investor Relations:
Steven Hooser
Three Part Advisors, LLC
(214) 872-2710

SOURCE: Smith-Midland Corporation

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FAQ

Who is AJ Krick and why was he nominated for a CFO award?

AJ Krick is the CFO of Smith-Midland and was nominated for his outstanding financial leadership and significant contributions to the company's growth.

What are the financial metrics achieved under AJ Krick's leadership at Smith-Midland?

Under AJ Krick's leadership, Smith-Midland achieved a 26% revenue growth and a 350% increase in net income.

How did Smith-Midland improve productivity in its manufacturing process?

Smith-Midland improved productivity by restructuring the manufacturing process, which led to a 25% decrease in product labor.

When was AJ Krick named a finalist in the CFO Awards?

AJ Krick was announced as a finalist in the 17th Annual Virginia Business CFO Awards on June 16, 2022.

What is the significance of the CFO Awards for Smith-Midland Corporation?

The CFO Awards recognition highlights the effective leadership and financial management at Smith-Midland, boosting its reputation in the industry.