Smith-Midland Corporation (NASDAQ:SMID) announced receiving two letters from Nasdaq regarding compliance issues. The first letter, dated May 29, 2025, confirmed the company regained compliance after filing its 2024 Annual Report (10-K) on May 27, 2025. However, a second letter indicated non-compliance with Nasdaq listing rule 5250(c)(1) due to delayed filing of Q1 2025 Quarterly Report (10-Q). The delay stems from extended financial reporting processes following the 10-K filing delays. Despite these challenges, preliminary results indicate higher revenue and significantly improved net income for Q1 2025 compared to Q1 2024. The company expects to file the delayed 10-Q soon.
Smith-Midland Corporation (NASDAQ:SMID) ha annunciato di aver ricevuto due lettere da Nasdaq riguardanti questioni di conformit脿. La prima lettera, datata 29 maggio 2025, conferma che la societ脿 ha recuperato la conformit脿 dopo aver presentato il suo Rapporto Annuale 2024 (10-K) il 27 maggio 2025. Tuttavia, una seconda lettera segnala una non conformit脿 alla regola di quotazione Nasdaq 5250(c)(1) a causa del ritardo nella presentazione del Rapporto Trimestrale del primo trimestre 2025 (10-Q). Il ritardo 猫 dovuto a processi di rendicontazione finanziaria prolungati a seguito dei ritardi nella presentazione del 10-K. Nonostante queste difficolt脿, i risultati preliminari indicano un aumento dei ricavi e un significativo miglioramento dell'utile netto nel primo trimestre 2025 rispetto allo stesso periodo del 2024. La societ脿 prevede di presentare a breve il 10-Q ritardato.
Smith-Midland Corporation (NASDAQ:SMID) anunci贸 que recibi贸 dos cartas de Nasdaq relacionadas con cuestiones de cumplimiento. La primera carta, fechada el 29 de mayo de 2025, confirm贸 que la empresa recuper贸 el cumplimiento tras presentar su Informe Anual 2024 (10-K) el 27 de mayo de 2025. Sin embargo, una segunda carta indic贸 incumplimiento de la norma de listado Nasdaq 5250(c)(1) debido a la presentaci贸n tard铆a del Informe Trimestral del primer trimestre de 2025 (10-Q). El retraso se debe a procesos extendidos de reporte financiero tras los retrasos en la presentaci贸n del 10-K. A pesar de estos desaf铆os, los resultados preliminares muestran mayores ingresos y una mejora significativa en las ganancias netas para el primer trimestre de 2025 en comparaci贸n con el primer trimestre de 2024. La empresa espera presentar pronto el 10-Q retrasado.
Smith-Midland Corporation (NASDAQ:SMID) a annonc茅 avoir re莽u deux lettres de Nasdaq concernant des probl猫mes de conformit茅. La premi猫re lettre, dat茅e du 29 mai 2025, confirme que la soci茅t茅 a retrouv茅 sa conformit茅 apr猫s avoir d茅pos茅 son rapport annuel 2024 (10-K) le 27 mai 2025. Cependant, une seconde lettre indique une non-conformit茅 脿 la r猫gle de cotation Nasdaq 5250(c)(1) en raison du retard dans le d茅p么t du rapport trimestriel du premier trimestre 2025 (10-Q). Ce retard est d没 脿 des processus de reporting financier prolong茅s suite aux retards dans le d茅p么t du 10-K. Malgr茅 ces difficult茅s, les r茅sultats pr茅liminaires montrent une augmentation des revenus et une nette am茅lioration du r茅sultat net pour le premier trimestre 2025 par rapport au premier trimestre 2024. La soci茅t茅 pr茅voit de d茅poser prochainement le 10-Q en retard.
Smith-Midland Corporation (NASDAQ:SMID) gab bekannt, zwei Schreiben von Nasdaq bez眉glich Compliance-Problemen erhalten zu haben. Das erste Schreiben vom 29. Mai 2025 best盲tigte, dass das Unternehmen die Compliance nach Einreichung des Gesch盲ftsberichts 2024 (10-K) am 27. Mai 2025 wiedererlangt hat. Ein zweites Schreiben wies jedoch auf eine Nicht-Einhaltung der Nasdaq-Listing-Regel 5250(c)(1) aufgrund der versp盲teten Einreichung des Quartalsberichts f眉r Q1 2025 (10-Q) hin. Die Verz枚gerung resultiert aus verl盲ngerten Finanzberichtsprozessen nach den Verz枚gerungen bei der 10-K-Einreichung. Trotz dieser Herausforderungen zeigen vorl盲ufige Ergebnisse h枚here Ums盲tze und eine deutlich verbesserte Nettogewinnentwicklung f眉r Q1 2025 im Vergleich zu Q1 2024. Das Unternehmen plant, den versp盲teten 10-Q-Bericht bald einzureichen.
Positive
Preliminary Q1 2025 results show higher revenue and significantly improved net income compared to Q1 2024
Company regained compliance with Nasdaq regarding the 2024 Annual Report filing
Negative
Company is currently non-compliant with Nasdaq listing rule 5250(c)(1) due to delayed Q1 2025 10-Q filing
Ongoing delays in financial reporting close process affecting timely filings
MIDLAND, VA / / June 4, 2025 / Smith-Midland Corporation (NASDAQ:SMID) (the "Company"), a provider of innovative, high-quality proprietary and patented precast concrete products and systems, today announced it received a letter from Nasdaq, dated May 29, 2025, indicating that the Company has regained compliance as it relates to its Annual Report on Form 10-K ("10-K") for the year ended December 31, 2024. The Company's 10-K was filed on May 27, 2025.
On May 29, 2025, the Company received a letter from Nasdaq, indicating it was not in compliance with Nasdaq listing rule 5250(c)(1), which requires the timely filing of all required periodic financial reports with the Securities and Exchange Commission. The required filing in question is the Company's Quarterly Report on Form 10-Q ("10-Q") for the quarter ended March 31, 2025.
The delay in filing the 10-Q is related to the Company requiring additional time to complete its financial reporting close process as a result of delays in filing the Company's 10-K. The Company expects to file its 10-Q in the near future.
As previously disclosed on the Company's Form 12b-25 filed with the SEC on May 15, 2025, revenue is expected to be higher for the quarter ended March 31, 2025 than the prior year quarter ended March 31, 2024, resulting in significantly higher net income for the quarter ended March 31, 2025 than the prior year quarter ended March 31, 2024. Numbers at this time are preliminary and subject to further adjustment.
About Smith-Midland
Smith-Midland develops, manufactures, licenses, rents, and sells a broad array of precast concrete products and systems for use primarily in the construction, transportation, and utility industries.
Smith-Midland Corporation has three manufacturing facilities in: Midland, VA, Reidsville, NC, and Columbia, SC, and a J-J Hooks庐 Safety Barrier rental firm, Concrete Safety Systems. Easi-Set Worldwide, a wholly owned subsidiary of Smith-Midland Corporation, licenses the production and sale of Easi-Set products, including J-J Hooks and SlenderWall庐, and provides diversification opportunities to the precast industry worldwide. For more information, please call (540) 439-3266 or visit .
Forward-Looking Statements
This announcement contains forward-looking statements, which involve risks and uncertainties. The Company's actual results may differ significantly from those discussed in the forward-looking statements. Factors that might cause such a difference include, but are not limited to, product demand, the impact of competitive products and pricing, capacity and supply constraints or difficulties, the uncertainties arising from the policies of the new Administration and DOGE, the risk of less government spending on infrastructure than anticipated, inflationary factors including potential recession, our material weaknesses in internal controls, general business and economic conditions, our debt exposure, our high level of accounts receivables, the effect of the Company's accounting policies and other risks detailed in the Company's Annual Report on Form 10-K and other filings with the Securities and Exchange Commission.
Investor Relations: Steven Hooser Three Part Advisors, LLC (214) 872-2710
SOURCE: Smith-Midland
View the original on ACCESS Newswire
FAQ
What is the current Nasdaq compliance status of Smith-Midland (SMID)?
Smith-Midland regained compliance for its 2024 Annual Report filing but is currently non-compliant regarding its Q1 2025 Quarterly Report filing.
Why is Smith-Midland (SMID) delayed in filing its Q1 2025 10-Q report?
The delay is due to the company requiring additional time to complete its financial reporting close process, resulting from previous delays in filing their 2024 Annual Report.
How did Smith-Midland (SMID) perform in Q1 2025 according to preliminary results?
Preliminary results indicate higher revenue and significantly improved net income for Q1 2025 compared to Q1 2024.
What is Nasdaq listing rule 5250(c)(1) that Smith-Midland (SMID) is not complying with?
Nasdaq rule 5250(c)(1) requires companies to file all required periodic financial reports with the SEC in a timely manner.
When does Smith-Midland (SMID) expect to file its delayed Q1 2025 10-Q report?
The company states it expects to file the Q1 2025 10-Q in the near future, though no specific date was provided.
An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, to receive support.
