Smith-Midland Corp. (SMID)

[littlefish]

Yep it was ugly especially on margins side. Might be the delays cost them on margins side but don't know if they specifically spelled that out in the Q (maybe get recaptured next Q, dunno).
Don't have time to pick thru it much but looks like the PR announce may have simply been clarifying backlog from previous Q having that $4+ mill contract included in it? If so, without it their backlog would be extremely weak. Although they did grow backlog over $1 mill sequentially on the $6+ mill revs so if they did have that larger contract included in last Q's backlog, they were able to generate more new backlog biz to some degree.

If you want to find cheap stuff that has dropped a lot, you might look at the housing market Some good deals out there.