Smith-midland reports first quarter 2023 financial results

Revenue increased 23% to $12.8 million; backlog of $51.4 million midland, va / accesswire / may 15, 2023 / smith-midland corporation (nasdaq:smid) a provider of innovative, high-quality proprietary and patented precast concrete products and systems announces their first quarter results for the period ended march 31, 2023. first quarter 2023 highlights compared to first quarter 2022 revenue increased 23 percent to $12.8 million from $10.4 million product sales increased 41 percent to $8.2 million from $5.9 million service revenue unchanged at $4.6 million operating income of $54,000, a $227,000 improvement net income of $80,000, or $0.02 per diluted share awarded contracts for $6 million to manufacture and install architectural panels and columns awarded $5 million in softsound® noise wall contracts for northern virginia extension project "our first quarter 2023 results experienced continued momentum from 2022.
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