LevelStock.com: SMC reports net income of USD500,000 for Q1 2010

Smith-Midland Corporation (OTCBB:SMID), a manufacturer of pre-cast concrete products, reported on Thursday net income of approximately USD 500,000 for the first quarter 2010, down from a net income of approximately USD 940,000 for the same period in 2009.

The company's first quarter revenue was approximately USD 6.4m, compared to the total revenue of USD 9.1m in 2009.

Smith-Midland stated that the reduced sales and net income was the result of higher sales in January 2009 reflecting the contract for rental barrier for the inauguration of President Obama, among other things.

From time to time, the Company may issue news releases that contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the safe harbor created by those sections. This material may contain statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. For those statements, the Company claims the protection of the safe harbor for forward-looking statement provisions contained in the Private Securities Litigation Reform Act of 1995 and any amendments thereto. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions, or future events or performance are not statements of historical fact and may be "forward-looking statements." "Forward-looking statements" are based upon expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties that could cause actual results or events to differ materially from those anticipated.

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