Schmitt Industries Results
Schmitt Industries financial results indicate we are seeing a increasing recovery in our markets after a long period of slow decline. During this time period, we have been careful with our expenditures, focusing our resources on new product development and enhancing our sales organization and distribution channels. We believe that we are seeing the positive results of our investments as evidenced by the return to profitability in the fourth quarter. We are continuing to work hard to return the Company to consistent profitability while making the investments necessary to position the Company for long-term growth,” Jim Fitzhenry concluded. Jim Fitzhenry has been the Company’s Executive Vice President since June 2008. Prior to joining the Company, Mr. Fitzhenry was President of Capital Strategies Group, a consulting firm specializing in federal government business development and government relations, which he founded in 2007. Prior to that time, Mr. Fitzhenry served for 15 years as a senior executive with FLIR Systems, Inc. Mr. Fitzhenry holds a B.A. from the University of Oregon and J.D. and M.B.A. degrees from Willamette University.James A. Fitzhenry joins Schmitt’s six-member Board of Directors, which includes Wayne A. Case, President and CEO of Schmitt; Maynard Brown, a Barrister & Solicitor in Canada; David Hudson, managing principal of Gemini Value Partners, LLC; Timothy Hennessy, the President of Prudent Energy Inc.; and Michael Ellsworth, former COO of ADE Corporation and former CEO of Electro Scientific Industries, Inc.
