Smith-Midland Announces Results for 2007
Wednesday April 16, 5:51 pm ET
MIDLAND, Va.--(BUSINESS WIRE)--Smith-Midland Corporation (OTCBB and Boston Stock Exchange:SMID) announced the company reported total revenue of approximately $31.5 million for 2007, as compared to total revenue of approximately $29.4 million in 2006, an increase of approximately $2.1 million, or 7%. The Company had net income of approximately $1.3 million for 2007, as compared to a loss of $.8 million in 2006, an improvement of approximately $2.1 million.
As of March 28, 2008 the Company's production backlog was approximately $15.7 million (unaudited) as compared to approximately $8.1 million (unaudited) at the same time in 2007. Company has seen a significant increase in its Soundwall and structural product sales, including J-J Hooks™ highway safety barrier and utility vaults, which have traditionally been some of the Company’s more profitable product lines.
For more complete information on Smith-Midland Corporation, visit the Company’s web site at SMITHMIDLAND.com. The “Investor Relations” area will include the Company’s Form 10-K.
Smith-Midland develops, manufactures, licenses, rents, and sells a broad array of precast concrete products for use primarily in the construction, transportation and utility industries.
Contact:
Smith-Midland Corporation
Rodney I. Smith, CEO, 540-439-3266
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Source: Smith-Midland Corporation
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