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Smith-Midland Corporation Announces Q2 2023 Financial Results
Net Income Drops, but Revenue Grows
Smith-Midland Corporation,(SMID) a leading provider of precast c oncrete products and systems, has released its financial results for the second quarter of 2023, showing a decrease in net income compared to the same period in 2022. However, the company reported a significant increase in revenue. Let's delve into the financial details.
Net Income Decline
Smith-Midland Corporation's net income for the second quarter of 2023 registered a decline. The company reported a net loss of $782,000 for the quarter, compared to a net income of $910,000 during the same period in 2022. This decline can be attributed to various factors affecting the company's bottom line.