Schmitt Industries Receives Compliance Notice From Nasdaq
On November 2, 2020, Schmitt Industries (NASDAQ: SMIT) announced compliance with Nasdaq listing requirements following their Form 10-Q filing for the period ending August 31, 2020. The report highlighted the company's operations in high precision test and measurement products through its Acuity® and Xact® lines, which cater to industries reliant on precise measurement technologies. Additionally, Schmitt owns Ample Hills Creamery, an ice cream manufacturer in Brooklyn, NY. The company also included a safe harbor statement regarding forward-looking risks and uncertainties affecting its business.
- Compliance with Nasdaq listing requirements enhances investor confidence.
- Diverse product offerings in precision measurement and monitoring.
- Ownership of Ample Hills Creamery provides brand value and market presence.
- None.
PORTLAND, Ore., Nov. 02, 2020 (GLOBE NEWSWIRE) -- On November 2, 2020, Schmitt Industries, Inc. (NASDAQ: SMIT) (the “Company” or “Schmitt”) received written notice from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that, based on the October 30, 2020 filing of the Company’s Form 10-Q for the period ended August 31, 2020, the Company is now in compliance with NASDAQ’s listing requirements.
About Schmitt Industries
Schmitt Industries, Inc., founded in 1987, designs, manufactures and sells high precision test and measurement products, solutions and services through its Acuity® and Xact® product lines. Acuity provides laser and white light sensor distance measurement and dimensional sizing products, and our Xact line provides ultrasonic-based remote tank monitoring products and related monitoring revenues for markets in the Internet of Things environment. The Company also owns and operates Ample Hills Creamery, a beloved ice cream manufacturer and retailer based in Brooklyn, NY.
Safe Harbor Statement
This document may contain forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict. Actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors. A complete discussion of the risks and uncertainties that may affect Schmitt's business, including the business of its subsidiary, is included in "Risk Factors" in the Company's most recent Annual Report on Form 10-K as filed by the Company with the Securities and Exchange Commission.
FAQ
What recent announcement did Schmitt Industries make regarding Nasdaq compliance?
What does Schmitt Industries do?
What are the implications of the Nasdaq compliance for SMIT investors?
When was the Form 10-Q filed by Schmitt Industries?
