Press Releases > Financial > First Quarter 2005

Smith-Midland Corporation Announces Results for the Quarter Ended March 31, 2005 with Revenues of $5,604,456 and Net Income for the Quarter Totaling $853,134

Midland, Va. - Smith-Midland Corporation (OTCBB and Boston Stock Exchange:SMID) announced the company reported total revenue of $5,604,456 for the quarter ended March 31, 2005, compared to total revenue of $5,192,790 for the same period of 2004, an increase of $411,666, or 8%.  Net income was $853,134 for the quarter ended March 31, 2005, compared to a net loss of $41,825 for the same period of 2004, an improvement of $894,959.

The improvement related primarily to Smith-Midland’s continued growth of its J-J Hooks highway safety and security barrier rentals and related services during the first quarter of 2005.  As the leading supplier of the J-J Hooks barrier systems and trusted source for homeland security concerns, Smith-Midland completed several special security-related projects during the first quarter, including one significant project in the D.C. area.

Smith-Midland also develops, manufactures, licenses and sells a broad array of precast concrete products for use primarily in the construction, transportation and utilities industries. Smith-Midland has two manufacturing facilities located in Midland, VA, and Reidsville, NC. Easi-Set Industries, a wholly owned subsidiary of Smith-Midland Corporation, licenses Smith-Midland developed products throughout North America, Europe and South America. Easi-Set Industries currently has 30 precast concrete product licensees worldwide.

This announcement contains forward-looking statements, which involve risks and uncertainties. The Company's actual results may differ significantly from the results discussed in the forward-looking statements. Factors which 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, general business and economic conditions, the effect of the Company's accounting policies and other risks detailed in the Company's Annual Report on Form 10-KSB and other filings with the Securities and Exchange Commission.

Smith-Midland Corporation and Subsidiaries Consolidated Statements of Operations Data