secwatch.observer — SEC 8-K summary
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Issuer:     SMITH MIDLAND CORP (SMID)
CIK:        0000924719
Form:       8-K
Filed at:   2022-04-01T23:59:59+00:00
Accession:  0001654954-22-004400
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Smith-Midland posts record FY2021 EPS of $1.45, revenue up 15% YoY
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- Net income for FY2021 grew 184% to $7.6M ($1.45 EPS) vs $0.51; PPP loan forgiveness contributed $0.51 EPS.
- Total revenue up 15% to $50.6M; barrier rental revenue increased 44% to ~$10M; royalty revenue up 31% to $2.2M.
- Q4 2021 revenue down 10% to $10.0M; operating loss of $179K vs income of $1.3M in Q4 2020.
- Backlog rose to $29M from $19.6M; plans $5M for rental fleet expansion to ~550k linear feet.
- Company expects slow Q1 2022 then increased sales in H2 2022; cites infrastructure bill as positive driver.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/924719/000165495422004400/0001654954-22-004400-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/924719/000165495422004400/smid_8k.htm
  HTML page:      https://secwatch.observer/filing/0001654954-22-004400

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