0000924719-13-000010.txt : 20130517 0000924719-13-000010.hdr.sgml : 20130517 20130517153203 ACCESSION NUMBER: 0000924719-13-000010 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20130516 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20130517 DATE AS OF CHANGE: 20130517 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SMITH MIDLAND CORP CENTRAL INDEX KEY: 0000924719 STANDARD INDUSTRIAL CLASSIFICATION: CONCRETE PRODUCTS, EXCEPT BLOCK & BRICK [3272] IRS NUMBER: 541727060 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-13752 FILM NUMBER: 13854882 BUSINESS ADDRESS: STREET 1: ROUTE 28 STREET 2: P O BOX 300 CITY: MIDLAND STATE: VA ZIP: 22728 BUSINESS PHONE: 5404393266 MAIL ADDRESS: STREET 1: RT 28 STREET 2: PO BOX 300 CITY: MIDLAND STATE: VA ZIP: 22728 8-K 1 smid-20130516x8kxpr.htm 8-K SMID-2013.05.16-8K-PR


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
 

 FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
 
 

Date of Report (Date of Earliest Event Reported): May 16, 2013
 
 

SMITH-MIDLAND CORPORATION
(Exact Name of Registrant as Specified in Charter)
 
 

Delaware
(State or Other Jurisdiction of Incorporation)
1-13752
(Commission File Number)
54-1727060
(I.R.S. Employer Identification Number)

P.O. Box 300, 5119 Catlett Road
Midland, Virginia 22728
(Address of principal executive offices)
 
 

 (504) 439-3266
(Registrant’s telephone number, including area code)
 
 

 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))










ITEM 2.02
Results of Operations and Financial Condition

On May 16, 2013, Smith-Midland Corporation issued a press release announcing its financial results for the quarter ended March 31, 2013.
 
A copy of the press release is attached hereto as Exhibit 99.1.
 
ITEM 9.01
FINANCIAL STATEMENTS AND EXHIBITS

(d)           Exhibits

Exhibit No
Exhibit Description
99.1
Press release, dated May 16, 2013

The information filed as an exhibit to this Form 8-K is being furnished in accordance with Item 2.02 and shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of such section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.









SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
Date:  May 17, 2013
 
 
SMITH-MIDLAND CORPORATION
 
 
 
By: /s/ William A. Kenter
 
William A. Kenter
Chief Financial Officer










SMITH-MIDLAND CORPORATION
Exhibit to Current Report on Form 8-K
May 16, 2013


Exhibit No
Exhibit Description
99.1
Press release, dated May 16, 2013




EX-99.1 2 smid-20130516xexh991.htm EXHIBIT SMID-2013.05.16-Exh99.1


Exhibit 99.1

News > Smith-Midland > Financial > March 2013 Results
May 16, 2013

SMC Announces Financial Results for the Quarter Ended March 31, 2013

MIDLAND, Va. - Smith-Midland Corporation (OTCBB: SMID) reported total revenue of $6.9 million and pre-tax earnings of $521,000 for the three months ended March 31, 2013, as compared to total revenue of $6.0 million and a pre-tax loss of $225,000 for the same period in 2012. The Company had net income of $309,000 for the three months ended March 31, 2013, as compared to a net loss of $127,000 for the same period in 2012. The fully diluted earnings per share were $.06 for the three months ended March 31, 2013 and the fully diluted loss per share was $.03 for the same period in 2012.

Rodney Smith, Chairman and CEO stated, “The first quarter of 2013 started off with some positive trends including increased sales, higher gross margins, a reduction in general and administrative expenses and an increase in net income and earnings per share. Management is continually monitoring the precast and construction markets and reacting wherever possible to reduce costs and increase sales.

“Management has improved its key operating metrics over the past year and is able to review these metrics on a weekly basics to react better and faster to changes in either market conditions or operations issues in real time.”

Ashley Smith, our President and COO of Smith-Midland of Virginia, the Precast Company, said, “Our lean initiatives are beginning to take hold within the Company, but we have a ways to go to achieve the significant profits that we believe Lean will bring to the bottom line.”

“Your management team and Board of Directors made several decisions during 2012 considered stockholder-friendly. One recommendation was to pay the Company's first dividend of $250,000 ($.05 cents per share) in December 2012, and another recommendation was to eliminate the 'Rights Plan'. We will be giving serious consideration to introducing a stock buy-back program when it is appropriate.

“We are dedicated to running the Company with a focus on innovation and research that will benefit our stockholders today and in the future.”

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.

This announcement contains forward-looking statements, which involve risks and uncertainties. The Company's actual results may differ significantly from the results discussed in the forward-looking statements. Factors which might cause such a difference include, but are not limited to, product demand, the impact of competitive products and pricing, capacity and supply constraints or difficulties, general business and economic conditions, the effect of the Company's accounting policies and other risks detailed in the Company's Annual Report on Form 10-K and other filings with the Securities and Exchange Commission.

For more complete information on Smith-Midland Corporation, visit the Company's web site at SMITHDELAWARE.com. The “Investor Relations” area will include the Company's Form 10-K.


Media Inquiries:
William A. Kenter
wkenter@smithmidland.com
Sales Inquiries:
info@smithmidland.com