Smith-midland reports third quarter 2022 financial results

Record backlog of $51.4 million, 80 percent year-over-year increase midland, va / accesswire / november 3, 2022 / smith-midland corporation (nasdaq:smid), a provider of innovative, high-quality proprietary and patented precast concrete products and systems today announced its results for the third quarter ended september 30, 2022. third quarter 2022 summary (compared to prior-year quarter) backlog increased 80 percent to $51.4 million, a record for the company royalty revenue increased 23% to $833,000 easi-set building revenue increased 168% to $1,523,000 total revenue of $12.0 million, compared to $13.1 million product sales of $7.1 million, compared to $7.2 million additional items subsequent to the quarter awarded $8.6 million contract (included in reported backlog) to produce precast concrete soundwall, columns, and j-j hooks concrete barrier for a project with the north carolina department of transportation (ncdot) completed successful crash test for low-profile barriers for use in the texas and florida markets "our third quarter results reflect the continued resilience of our team, the value of our proprietary products, and the favorable ongoing macroeconomic trends across our industry.
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