<PAGE>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-Q/A
- ----
xx QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
- ---- SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended: August 31, 1996
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or
- ----
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
- ---- SECURITIES EXCHANGE ACT OF 1934
For the transition period from: to:
---------------- ----------------
Commission File Number: 0-23996
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SCHMITT INDUSTRIES, INC.
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(Exact name of registrant as specified in charter)
Oregon 93-1151989
------------------------ --------------------------
(Place of Incorporation) (IRS Employer ID Number)
2765 NW Nicolai Street, Portland, Oregon 97210
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(Address of registrant's principal executive office)
(503) 227-7908
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(Registrant's telephone number)
Indicate by check mark whether the registrant has (1) filed all reports required
to be filed by Section 13 of 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days.
Yes xx No
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The number of share of each class of common stock outstanding as of August 31,
1996 Common stock, no par value 6,989,389
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SCHMITT INDUSTRIES, INC.
FORM 10-Q/A
Part II - OTHER INFORMATION
Item 1. Legal Proceedings - None
Item 2. Changes in Securities - None
Item 3. Default Upon Senior Securities - None
Item 4. Submission of Matters to a Vote of Security Holders:
-- None --
Item 5. Other Information - None
Item 6.A. Exhibit 11.1 - Schedule of Computation of Net Income Per
Share
Exhibit 27 - Financial Data Schedule
Item 6.B. Reports on Form 8-K - None
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this amendment to be signed on its behalf by the
undersigned thereunto duly authorized.
SCHMITT INDUSTRIES, INC.
(Registrant)
Date: 12/16/96 /s/
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Wayne A. Case, President/CEO/Director
Date: 12/16/96 /s/
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Annie Windsor, Chief Financial Officer
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM 10Q OF
AUGUST 31, 1996 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL
STATEMENTS.
</LEGEND>
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> MAY-31-1997
<PERIOD-START> JUN-01-1996
<PERIOD-END> AUG-31-1996
<CASH> 134,077
<SECURITIES> 410,162
<RECEIVABLES> 1,193,450
<ALLOWANCES> 0
<INVENTORY> 2,250,368
<CURRENT-ASSETS> 4,698,188
<PP&E> 1,866,426
<DEPRECIATION> 375,652
<TOTAL-ASSETS> 6,242,675
<CURRENT-LIABILITIES> 650,557
<BONDS> 174,532
0
0
<COMMON> 4,463,843
<OTHER-SE> 928,636
<TOTAL-LIABILITY-AND-EQUITY> 6,242,675
<SALES> 1,793,698
<TOTAL-REVENUES> 1,793,698
<CGS> 724,140
<TOTAL-COSTS> 724,140
<OTHER-EXPENSES> 818,282
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 0
<INCOME-PRETAX> 251,276
<INCOME-TAX> 111,000
<INCOME-CONTINUING> 0
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 140,276
<EPS-PRIMARY> .02
<EPS-DILUTED> .02
</TABLE>
