United Kingdom

Profile: Schmitt Industries Inc (SMIT.OQ)

SMIT.OQ on NASDAQ Stock Exchange Capital Market

17 Dec 2018
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Schmitt Industries, Inc., incorporated on December 7, 1993, designs, manufactures and sells test and measurement products for two main business segments: the Balancer segment and the Measurement segment. The Company operates through two segments: the design and assembly of dynamic balancing systems and components for the machine tool industry (Balancer), and the design and assembly of laser-based test and measurement systems (Measurement). For the Balancer segment, the Company designs, manufactures and sells computer-controlled vibration detection, balancing and process control systems for the machine tool industry across the world, particularly for grinding machines. Under the Measurement segment, the Company, through its subsidiary, Schmitt Measurement Systems, Inc., designs, manufactures and sells laser and white light sensors for distance, dimensional and area measurement for a range of commercial applications, laser-based microroughness measurement products for the semiconductor wafer and hard disk drive industries and for other industrial applications, laser-based surface analysis and measurement products for a range of scientific applications, and ultrasonic measurement products that measure the fill levels of tanks holding propane, diesel and other tank-based liquids and transmit that data via satellite to a secure Website for display.

The Company operates in geographic markets, including the United States, Europe and Asia. It also provides sales and service for Europe and Asia through its subsidiary, Schmitt Europe Limited (SEL), located in Coventry, England and through its sales representative office located in Shanghai, China.

Balancer segment

The Company's principal product line for this segment is the Schmitt Dynamic Balance System (SBS), which consists of a vibration sensor, a computer control unit, and a balance head that is placed either externally on the grinding wheel spindle with the use of a spindle mounted adaptor or internally inside the spindle bore. The SB-5500 control panel contains up to approximately four slots for additional circuit boards designed for specific functions, such as manual balancing, balancing using hydro chambers and process monitoring, which involves the detection and analysis of high frequency noise, known as acoustic emission (AE), generated by the grinding process. Customers can also detect and analyze the AE signal generated during grinding or wheel dressing to help monitor and manage the grinding process. Customers include both end user operators, as well as manufacturers of grinding machines for a range of industries that utilize the grinding process, including the automotive, industrial, aerospace and medical industries.

The SB-5500 also includes an optional Acoustic Emission Monitoring System (AEMS) control card, which uses acoustic sensor technology to monitor the AE signal generated on the grinding machine during key events in the grinding process. The AEMS card allows grinding wheel in-feed, right up to the point of initial contact of the grinding wheel with a new part loaded in the machine. The system can automatically detect the initial contact and report this event to the machine control, stopping the wheel in-feed without operator intervention. The SB-5500 also offers two process control cards that fit inside the control panel to provide control of the grinding process: the ExactControl card and the ExactDress card. The ExactControl process control card offers multi-functional grinding process control capability by detecting and analyzing either the AE signal pattern or the machine power fluctuations and then using one of seven process control strategies to adjust and optimize the grinding process based on that signal data. Additional SBS products include the SB-2000 and the AE-1000. The SB-2000 is a manual balancing system offering both one and two plane manual balancing capabilities. The system comes in a machine installation version (SB-2000) and a portable version (SB-2000-P).

The Company competes with Marposs S.p.A., MPM Micro Prazision Marx GmbH and Balance Systems S.r.l.

Measurement segment

Within the Measurement Segment, the Company offers over 12 products under the Acuity brand, which include The AccuRange (AR)1000, AR2000, AR2500 and AR3000 distance measurement sensors, the AR700, AR500 and AR200 series of triangulating laser displacement sensors, the AR CCS Prima and the AR CCS Initial chromatic confocal sensors, the AccuProfile (AP) 400 and AP820, and the Aquity (AQ) 6 2D laser line scanners. The Company designs, manufactures and sells the AR200 and AR700 and distributes the AR500, AR1000, AR2000, AR2500, AR3000, AR CCS Prima, AR CCS Initial, AP400, AP820 and the AQ6, primarily into North America.

The Company offers surface roughness measurement products, which use a technology using laser light scatterometry to perform surface measurement tests that quantify surface micro-roughness. Products are sold to manufacturers of hard disk drives, semiconductors, silicon wafers and optical products and industries involved in fabrication processes that require precise and reliable measurements. The Company's product for the disk industry is the Texture Measurement System (TMS) 2000-RC, a texture measurement system. The Company offers two products devoted to the semiconductor wafer industry: the TMS2000W-RC and TMS3000W-RC. Both products provide measurements for manufacturers of silicon wafers, device quality semiconductors and memory devices. The Company also offers the Lasercheck line of surface roughness measurement gauges.

The Company's Complete Angle Scatter Instrument (CASI) Scatterometers are sold to companies and institutions involved in scientific research and development. These products are scientific measurement instruments providing customers with molecular-level precision in roughness measurement of optical surfaces, diffuse materials, semiconductor wafers, magnetic storage media and precision-machined surfaces, as well as surfaces affecting the cosmetic appearance of consumer products. The MicroScan system is a portable device consisting of a hand-held control unit, an interchangeable measurement head and a separate charging unit. The Company's Xact Tank Monitoring System provides remote fill level monitoring of propane, diesel and other tank-based liquids for tanks.

The Company competes with Independent Technologies, Inc., NasCorp, WacnGo, Silicon Controls, TankLink, Centeron, TankScan and Enertrack.

Company Address

Schmitt Industries Inc

2765 Nw Nicolai St
PORTLAND   OR   97210
P: +1503.2277908
F: +1503.2231258

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