Schmitt Industries (SMIT) 10-Q 11 Apr 14 2014 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Feb. 28, 2014	Mar. 31, 2014
Document And Entity Information [Abstract]	'	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	28-Feb-14	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q3	'
Trading Symbol	'SMIT	'
Entity Registrant Name	'SCHMITT INDUSTRIES INC	'
Entity Central Index Key	'0000922612	'
Current Fiscal Year End Date	'--05-31	'
Entity Filer Category	'Smaller Reporting Company	'
Entity Common Stock, Shares Outstanding	'	2,990,910

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Feb. 28, 2014	31-May-13
Current assets	'	'
Cash and cash equivalents	$1,885,856	$1,909,071
Accounts receivable, net of allowance of $32,009 and $30,576 at February 28, 2014 and May 31, 2013, respectively	2,155,006	1,980,685
Inventories	4,539,207	5,054,087
Prepaid expenses	141,186	219,492
Income taxes receivable	17,943	48,095
Total current assets	8,739,198	9,211,430
Property and equipment	'	'
Land	299,000	299,000
Buildings and improvements	1,805,951	1,805,951
Furniture, fixtures and equipment	1,313,921	1,312,028
Vehicles	86,838	121,835
Property, plant and equipment, gross	3,505,710	3,538,814
Less accumulated depreciation and amortization	-2,328,075	-2,203,924
Property, plant and equipment, net	1,177,635	1,334,890
Other assets	'	'
Intangible assets, net	977,302	1,078,278
TOTAL ASSETS	10,894,135	11,624,598
Current liabilities	'	'
Accounts payable	525,876	918,094
Accrued commissions	242,648	273,307
Accrued payroll liabilities	108,515	131,772
Other accrued liabilities	279,318	286,307
Total current liabilities	1,156,357	1,609,480
Stockholders' equity	'	'
Common stock, no par value, 20,000,000 shares authorized, 2,990,910 shares issued and outstanding at both February 28, 2014 and May 31, 2013	10,411,566	10,369,524
Accumulated other comprehensive loss	-269,439	-331,924
Accumulated deficit	-404,349	-22,482
Total stockholders' equity	9,737,778	10,015,118
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$10,894,135	$11,624,598

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Feb. 28, 2014	31-May-13
Statement Of Financial Position [Abstract]	'	'
Accounts receivable, allowance	$32,009	$30,576
Common stock, par value	'	'
Common stock, shares authorized	20,000,000	20,000,000
Common stock, shares issued	2,990,910	2,990,910
Common stock, shares outstanding	2,990,910	2,990,910

Consolidated_Statements_of_Ope

Consolidated Statements of Operations and Comprehensive Loss (USD $)	3 Months Ended		9 Months Ended
	Feb. 28, 2014	Feb. 28, 2013	Feb. 28, 2014	Feb. 28, 2013
Income Statement [Abstract]	'	'	'	'
Net sales	$3,066,163	$2,796,429	$9,108,662	$9,179,353
Cost of sales	1,608,233	1,438,831	4,851,742	4,405,579
Gross profit	1,457,930	1,357,598	4,256,920	4,773,774
Operating expenses:	'	'	'	'
General, administration and sales	1,387,972	1,366,587	4,246,720	4,523,320
Research and development	151,613	164,693	390,473	411,367
Total operating expenses	1,539,585	1,531,280	4,637,193	4,934,687
Operating loss	-81,655	-173,682	-380,273	-160,913
Other income (expense)	11,497	-2,347	5,404	6,080
Loss before income taxes	-70,158	-176,029	-374,869	-154,833
Provision for income taxes	1,949	15,075	6,998	20,727
Net loss	-72,107	-191,104	-381,867	-175,560
Net loss per common share:	'	'	'	'
Basic	($0.02)	($0.06)	($0.13)	($0.06)
Weighted average number of common shares, basic	2,990,910	2,990,910	2,990,910	2,990,910
Diluted	($0.02)	($0.06)	($0.13)	($0.06)
Weighted average number of common shares, diluted	2,990,910	2,990,910	2,990,910	2,990,910
Comprehensive loss	'	'	'	'
Net loss	-72,107	-191,104	-381,867	-175,560
Foreign currency translation adjustment	9,561	-24,648	62,485	-15,205
Total comprehensive loss	($62,546)	($215,752)	($319,382)	($190,765)

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	9 Months Ended
	Feb. 28, 2014	Feb. 28, 2013
Cash flows relating to operating activities	'	'
Net loss	($381,867)	($175,560)
Adjustments to reconcile net loss to net cash used in operating activities:	'	'
Depreciation and amortization	254,291	260,379
Gain on disposal of property and equipment	-13,667	0
Stock based compensation	42,042	67,255
(Increase) decrease in:	'	'
Accounts receivable	-136,344	393,466
Inventories	544,102	-772,380
Prepaid expenses	80,283	29,870
Income taxes receivable	30,152	-7,021
Increase (decrease) in:	'	'
Accounts payable	-398,357	-66,416
Accrued liabilities and customer deposits	-65,706	-3,966
Net cash used in operating activities	-45,071	-274,373
Cash flows relating to investing activities	'	'
Purchases of property and equipment	-1,893	-152,010
Proceeds from sale of property and equipment	19,500	0
Net cash provided by (used in) investing activities	17,607	-152,010
Cash flows relating to financing activities	'	'
Increase in line of credit	400,000	0
Payments on line of credit	-400,000	0
Net cash provided by financing activities	0	0
Effect of foreign exchange translation on cash	4,249	-10,549
Decrease in cash and cash equivalents	-23,215	-436,932
Cash and cash equivalents, beginning of period	1,909,071	2,776,817
Cash and cash equivalents, end of period	1,885,856	2,339,885
Supplemental Disclosure of Cash Flow Information	'	'
Cash paid during the period for income taxes	7,061	35,248
Cash paid during the period for interest	$8,378	$0

Consolidated_Statement_of_Chan

Consolidated Statement of Changes in Stockholders' Equity (USD $)	Total	Common stock [Member]	Accumulated other comprehensive loss [Member]	Accumulated deficit [Member]
Beginning balance at May. 31, 2013	$10,015,118	$10,369,524	($331,924)	($22,482)
Beginning balance, shares at May. 31, 2013	'	2,990,910	'	'
Stock-based compensation	42,042	42,042	0	0
Net loss	-381,867	0	0	-381,867
Other comprehensive income	62,485	0	62,485	0
Ending balance at Feb. 28, 2014	$9,737,778	$10,411,566	($269,439)	($404,349)
Ending balance, shares at Feb. 28, 2014	'	2,990,910	'	'

Summary_of_Significant_Account

Summary of Significant Accounting Policies	9 Months Ended
	Feb. 28, 2014
Accounting Policies [Abstract]	'
Summary of Significant Accounting Policies	'
	Note 1:
	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	Basis of Presentation
	The consolidated financial information included herein has been prepared by Schmitt Industries, Inc. (the Company or Schmitt) and its wholly owned subsidiaries. In the opinion of management, the accompanying unaudited Consolidated Financial Statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission and contain all adjustments, consisting only of normal recurring adjustments, necessary to present fairly its financial position as of February 28, 2014 and its results of operations and its cash flows for the periods presented. The consolidated balance sheet at May 31, 2013 has been derived from the Annual Report on Form 10-K for the fiscal year ended May 31, 2013. The accompanying unaudited financial statements and related notes should be read in conjunction with the audited financial statements included in our Annual Report on Form 10-K for the fiscal year ended May 31, 2013. Operating results for the interim periods presented are not necessarily indicative of the results that may be experienced for the fiscal year ending May 31, 2014.
	Revenue Recognition
	The Company recognizes revenue for sales and billing for freight charges upon delivery of the product to the customer at a fixed and determinable price with a reasonable assurance of collection, passage of title to the customer as indicated by shipping terms and fulfilment of all significant obligations, pursuant to the guidance provided by Accounting Standards Codification (“ASC”) Topic 605. For sales to all customers, including manufacturer representatives, distributors or their third-party customers, these criteria are met at the time product is shipped. When other significant obligations remain after products are delivered, revenue is recognized only after such obligations are fulfilled. In addition, judgments are required in evaluating the credit worthiness of our customers. Credit is not extended to customers and revenue is not recognized until we have determined that collectability is reasonably assured.
	Financial Instruments
	The carrying value of all other financial instruments potentially subject to valuation risk (principally consisting of cash and cash equivalents, accounts receivable, accounts payable and the line of credit) also approximates fair value because of their short-term maturities.

Inventory

Inventory	9 Months Ended
	Feb. 28, 2014
Inventory Disclosure [Abstract]	'
Inventory	'
	Note 2:
	INVENTORY
	Inventory is valued at the lower of cost or market with cost determined on the average cost basis. Costs included in inventories consist of materials, labor and manufacturing overhead, which are related to the purchase or production of inventories. Write-downs, when required, are made to reduce excess inventories to their net realizable values. Such estimates are based on assumptions regarding future demand and market conditions. If actual conditions become less favorable than the assumptions used, an additional inventory write-down may be required. As of February 28, 2014 and May 31, 2013, inventories consisted of:
		February 28, 2014		May 31, 2013
	Raw materials	$	1,974,479	$	2,225,295
	Work-in-process		784,694		1,132,534
	Finished goods		1,780,034		1,696,258
		$	4,539,207	$	5,054,087

Line_of_Credit

Line of Credit	9 Months Ended
	Feb. 28, 2014
Debt Disclosure [Abstract]	'
Line of Credit	'
	Note 3:
	LINE OF CREDIT
	The Company has a $2 million bank line of credit secured by U.S. accounts receivable, inventories, general intangibles and a depository account, which has been extended through September 1, 2014. The line of credit is subject to certain covenant requirements if draws on the line are executed. Interest is payable at the bank’s prime rate (3.25% as of February 28, 2014) or LIBOR plus 2.0% (2.16% as of February 28, 2014). The outstanding balance on the line of credit was $0 at February 28, 2014 and May 31, 2013, respectively.

Stock_Options_and_StockBased_C

Stock Options and Stock-Based Compensation	9 Months Ended
	Feb. 28, 2014
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]	'
Stock Options and Stock-Based Compensation	'
	Note 4:
	STOCK OPTIONS AND STOCK-BASED COMPENSATION
	Stock-based compensation includes expense charges for all stock-based awards to employees and directors granted under the Company’s stock option plan. Stock-based compensation recognized during the period is based on the portion of the grant date fair value of the stock-based award that will vest during the period, adjusted for expected forfeitures. Compensation cost for all stock-based awards is recognized using the straight-line method. The Company uses the Black-Scholes option pricing model as its method of valuation for stock-based awards. The Black-Scholes option pricing model requires the input of highly subjective assumptions, and other reasonable assumptions could provide differing results. These variables include, but are not limited to:
		•		Risk-Free Interest Rate. The Company bases the risk-free interest rate on the implied yield currently available on U.S. Treasury issues with an equivalent remaining term approximately equal to the expected life of the award.
		•		Expected Life. The expected life of awards granted represents the period of time that they are expected to be outstanding. The Company determines the expected life based on historical experience with similar awards, giving consideration to the contractual terms, vesting schedules and pre-vesting and post-vesting forfeitures.
		•		Expected Volatility. The Company estimates the volatility of its common stock at the date of grant based on the historical volatility of its common stock. The volatility factor the Company uses is based on its historical stock prices over the most recent period commensurate with the estimated expected life of the award. These historical periods may exclude portions of time when unusual transactions occurred.
		•		Expected Dividend Yield. The Company does not anticipate paying any cash dividends in the foreseeable future. Consequently, the Company uses an expected dividend yield of zero.
		•		Expected Forfeitures. The Company uses relevant historical data to estimate pre-vesting option forfeitures. The Company records stock-based compensation only for those awards that are expected to vest.
	The Company has computed, to determine stock-based compensation expense recognized for those options granted during the three and nine months ended February 28, 2014 and 2013, the value of all stock options granted using the Black-Scholes option pricing model. 35,000 options were issued during the nine months ended February 28, 2014. No options were issued during the nine months ended February 28, 2013.
	At February 28, 2014, the Company had a total of 286,666 outstanding stock options (204,998 vested and exercisable and 81,668 non-vested) with a weighted average exercise price of $3.74. The Company estimates that $56,921 will be recorded as additional stock-based compensation expense for all options that were outstanding as of February 28, 2014, but which were not yet vested.
	Outstanding Options												Exercisable Options
	Number					Weighted					Weighted			Number of				Weighted
	of Shares					Average					Average			Shares				Average
						Exercise Price					Remaining							Exercise Price
											Contractual
											Life (yrs)
			41,666				$	2.3				0.3			41,666				$	2.3
			35,000					2.53				9.6			0					N/A
			25,000					2.9				9.1			0					N/A
			130,000					3.65				7.3			108,332					3.65
			5,000					5.8				1.7			5,000					5.8
			50,000					6.25				4.3			50,000					6.25
			286,666					3.74				6.1			204,998					4.06
	Options granted, exercised, and forfeited or canceled under the Company’s stock option plan during the three and nine months ended February 28, 2014 are summarized as follows:
			Three Months Ended									Nine Months Ended
			February 28, 2014									February 28, 2014
			Number of					Weighted				Number of			Weighted
			Shares					Average				Shares			Average
								Exercise Price							Exercise Price
	Options outstanding - beginning of period				286,666				$	3.74			301,666			$	4.06
	Options granted				0					0			35,000				2.53
	Options exercised				0					0			0				0
	Options forfeited/canceled				0					0			(50,000	)			4.82
	Options outstanding - end of period				286,666					3.74			286,666				3.74

EPS_Reconciliation

EPS Reconciliation	9 Months Ended
	Feb. 28, 2014
Earnings Per Share [Abstract]	'
EPS Reconciliation	'
	Note 5:
	EPS RECONCILIATION
		Three Months Ended				Nine Months Ended
		February 28,				February 28,
		2014		2013		2014		2013
	Weighted average shares (basic)		2,990,910		2,990,910		2,990,910		2,990,910
	Effect of dilutive stock options		0		0		0		0
	Weighted average shares (diluted)		2,990,910		2,990,910		2,990,910		2,990,910
	Basic earnings (loss) per share is computed using the weighted average number of common shares outstanding. Diluted earnings (loss) per share is computed using the weighted average number of common shares outstanding, adjusted for dilutive incremental shares attributed to outstanding options to purchase common stock. Common stock equivalents for stock options are computed using the treasury stock method. In periods in which a net loss is incurred, no common stock equivalents are included since they are antidilutive and as such all stock options outstanding are excluded from the computation of diluted net loss in those periods.

Income_Taxes

Income Taxes	9 Months Ended
	Feb. 28, 2014
Income Tax Disclosure [Abstract]	'
Income Taxes	'
	Note 6:
	INCOME TAXES
	The Company accounts for income taxes using the asset and liability method. This approach requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of temporary differences between the carrying amounts and the tax basis of assets and liabilities. Deferred tax assets are reduced by a valuation allowance if, based on the weight of available evidence, it is more likely than not that some portion or all of the deferred tax assets will not be realized.
	Each year the Company files income tax returns in the various national, state and local income taxing jurisdictions in which it operates. These tax returns are subject to examination and possible challenge by the taxing authorities. Positions challenged by the taxing authorities may be settled or appealed by the Company. As a result, there is an uncertainty in income taxes recognized in the Company’s financial statements in accordance with ASC Topic 740. The Company applies this guidance by defining criteria that an individual income tax position must meet for any part of the benefit of that position to be recognized in an enterprise’s financial statements and provides guidance on measurement, de-recognition, classification, accounting for interest and penalties, accounting in interim periods, disclosure, and transition.
	On June 1, 2007, the Company adopted the provisions of ACS Topic 740. Other long-term liabilities related to tax contingencies were $0 as of both February 28, 2014 and May 31, 2013. Interest and penalties associated with uncertain tax positions are recognized as components of the “Provision for income taxes.” The liability for payment of interest and penalties was $0 as of February 28, 2014 and May 31, 2013.
	Several tax years are subject to examination by major tax jurisdictions. In the United States, federal tax years for Fiscal 2010 and after are subject to examination. In the United Kingdom, tax years for Fiscal 2012 and after are subject to examination. In Canada, tax years for Fiscal 2005 and after are subject to examination.
	Effective Tax Rate
	The effective tax rate on consolidated net loss was 2.0% for the nine months ended February 28, 2014. The effective tax rate on consolidated net loss differs from the federal statutory tax rate primarily due to the amount of income from foreign jurisdictions, changes in the deferred tax valuation allowance and certain expenses not being deductible for income tax reporting purposes. Management believes the effective tax rate for Fiscal 2014 will be approximately 2.7% due to the items noted above.

Segments_of_Business

Segments of Business	9 Months Ended
	Feb. 28, 2014
Segment Reporting [Abstract]	'
Segments of Business	'
	Note 7:
	SEGMENTS OF BUSINESS
	The Company has two reportable business segments: dynamic balancing systems for the machine tool industry (Balancer) and laser-based test and measurement systems (Measurement). The Company operates in three principal geographic markets: North America, Europe and Asia.
	Segment Information
		Three Months Ended February 28,
		2014						2013
		Balancer			Measurement			Balancer			Measurement
	Gross sales	$	2,201,178		$	1,123,186		$	2,023,483		$	1,002,351
	Intercompany sales		(231,317	)		(26,884	)		(213,564	)		(15,841	)
	Net sales	$	1,969,861		$	1,096,302		$	1,809,919		$	986,510
	Operating income (loss)	$	4,345		$	(86,000	)	$	68,552		$	(242,234	)
	Depreciation expense	$	32,786		$	12,542		$	35,448		$	17,630
	Amortization expense	$	0		$	33,659		$	0		$	33,659
	Capital expenditures	$	457		$	0		$	9,393		$	0
		Nine Months Ended February 28,
		2014						2013
		Balancer			Measurement			Balancer			Measurement
	Gross sales	$	6,603,586		$	3,316,516		$	6,539,053		$	3,288,795
	Intercompany sales		(765,987	)		(45,453	)		(604,450	)		(44,045	)
	Net sales	$	5,837,599		$	3,271,063		$	5,934,603		$	3,244,750
	Operating income (loss)	$	(236,031	)	$	(144,242	)	$	167,791		$	(328,704	)
	Depreciation expense	$	108,933		$	44,382		$	105,662		$	53,741
	Amortization expense	$	0		$	100,976		$	0		$	100,976
	Capital expenditures	$	1,893		$	0		$	49,223		$	102,787
	Geographic Information-Net Sales by Geographic Area
		Three Months Ended February 28,						Nine Months Ended February 28,
		2014			2013			2014			2013
	North America	$	1,763,223		$	1,948,358		$	5,455,496		$	6,040,977
	Europe		526,372			259,570			1,401,713			931,063
	Asia		742,006			515,040			2,115,187			1,956,977
	Other markets		34,562			73,461			136,266			250,336
	Total Net Sales	$	3,066,163		$	2,796,429		$	9,108,662		$	9,179,353
		Three Months Ended February 28,
		2014						2013
		United States			Europe			United States			Europe
	Operating income (loss)	$	(185,597	)	$	103,942		$	(142,189	)	$	(31,493	)
	Depreciation expense	$	45,328		$	0		$	53,078		$	0
	Amortization expense	$	33,659		$	0		$	33,659		$	0
	Capital expenditures	$	457		$	0		$	9,393		$	0
		Nine Months Ended February 28,
		2014						2013
		United States			Europe			United States			Europe
	Operating income (loss)	$	(442,338	)	$	62,065		$	(96,811	)	$	(64,102	)
	Depreciation expense	$	153,315		$	0		$	159,403		$	0
	Amortization expense	$	100,976		$	0		$	100,976		$	0
	Capital expenditures	$	1,893		$	0		$	152,010		$	0
	Note – Europe is defined as the European subsidiary, Schmitt Europe, Ltd.
	Segment and Geographic Assets
		February 28, 2014			May 31, 2013
	Segment assets to total assets
	Balancer	$	4,733,193		$	5,489,976
	Measurement		4,257,143			4,177,456
	Corporate assets		1,903,799			1,957,166
	Total assets	$	10,894,135		$	11,624,598
	Geographic assets to long-lived assets
	United States	$	1,177,635		$	1,334,890
	Europe		0			0
	Total assets	$	1,177,635		$	1,334,890
	Geographic assets to total assets
	United States	$	9,862,422		$	11,021,901
	Europe		1,031,713			602,697
	Total assets	$	10,894,135		$	11,624,598

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Feb. 28, 2014
Accounting Policies [Abstract]	'
Basis of Presentation	'
	Basis of Presentation
	The consolidated financial information included herein has been prepared by Schmitt Industries, Inc. (the Company or Schmitt) and its wholly owned subsidiaries. In the opinion of management, the accompanying unaudited Consolidated Financial Statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission and contain all adjustments, consisting only of normal recurring adjustments, necessary to present fairly its financial position as of February 28, 2014 and its results of operations and its cash flows for the periods presented. The consolidated balance sheet at May 31, 2013 has been derived from the Annual Report on Form 10-K for the fiscal year ended May 31, 2013. The accompanying unaudited financial statements and related notes should be read in conjunction with the audited financial statements included in our Annual Report on Form 10-K for the fiscal year ended May 31, 2013. Operating results for the interim periods presented are not necessarily indicative of the results that may be experienced for the fiscal year ending May 31, 2014.
Revenue Recognition	'
	Revenue Recognition
	The Company recognizes revenue for sales and billing for freight charges upon delivery of the product to the customer at a fixed and determinable price with a reasonable assurance of collection, passage of title to the customer as indicated by shipping terms and fulfilment of all significant obligations, pursuant to the guidance provided by Accounting Standards Codification (“ASC”) Topic 605. For sales to all customers, including manufacturer representatives, distributors or their third-party customers, these criteria are met at the time product is shipped. When other significant obligations remain after products are delivered, revenue is recognized only after such obligations are fulfilled. In addition, judgments are required in evaluating the credit worthiness of our customers. Credit is not extended to customers and revenue is not recognized until we have determined that collectability is reasonably assured.
Financial Instruments	'
	Financial Instruments
	The carrying value of all other financial instruments potentially subject to valuation risk (principally consisting of cash and cash equivalents, accounts receivable, accounts payable and the line of credit) also approximates fair value because of their short-term maturities.

Inventory_Tables

Inventory (Tables)	9 Months Ended
	Feb. 28, 2014
Inventory Disclosure [Abstract]	'
Schedule of Inventories	'
	As of February 28, 2014 and May 31, 2013, inventories consisted of:
		February 28, 2014		May 31, 2013
	Raw materials	$	1,974,479	$	2,225,295
	Work-in-process		784,694		1,132,534
	Finished goods		1,780,034		1,696,258
		$	4,539,207	$	5,054,087

Stock_Options_and_StockBased_C1

Stock Options and Stock-Based Compensation (Tables)	9 Months Ended
	Feb. 28, 2014
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]	'
Schedule of Outstanding Stock Options	'
	The Company estimates that $56,921 will be recorded as additional stock-based compensation expense for all options that were outstanding as of February 28, 2014, but which were not yet vested.
	Outstanding Options										Exercisable Options
	Number			Weighted					Weighted			Number of				Weighted
	of Shares			Average					Average			Shares				Average
				Exercise Price					Remaining							Exercise Price
									Contractual
									Life (yrs)
		41,666			$	2.3				0.3			41,666				$	2.3
		35,000				2.53				9.6			0					N/A
		25,000				2.9				9.1			0					N/A
		130,000				3.65				7.3			108,332					3.65
		5,000				5.8				1.7			5,000					5.8
		50,000				6.25				4.3			50,000					6.25
		286,666				3.74				6.1			204,998					4.06
Schedule of Options Granted, Exercised, and Forfeited or Canceled	'
	Options granted, exercised, and forfeited or canceled under the Company’s stock option plan during the three and nine months ended February 28, 2014 are summarized as follows:
		Three Months Ended								Nine Months Ended
		February 28, 2014								February 28, 2014
		Number of				Weighted				Number of			Weighted
		Shares				Average				Shares			Average
						Exercise Price							Exercise Price
	Options outstanding - beginning of period		286,666				$	3.74			301,666			$	4.06
	Options granted		0					0			35,000				2.53
	Options exercised		0					0			0				0
	Options forfeited/canceled		0					0			(50,000	)			4.82
	Options outstanding - end of period		286,666					3.74			286,666				3.74

EPS_Reconciliation_Tables

EPS Reconciliation (Tables)	9 Months Ended
	Feb. 28, 2014
Earnings Per Share [Abstract]	'
Schedule of Earnings Per Share	'
		Three Months Ended				Nine Months Ended
		February 28,				February 28,
		2014		2013		2014		2013
	Weighted average shares (basic)		2,990,910		2,990,910		2,990,910		2,990,910
	Effect of dilutive stock options		0		0		0		0
	Weighted average shares (diluted)		2,990,910		2,990,910		2,990,910		2,990,910

Segments_of_Business_Tables

Segments of Business (Tables)	9 Months Ended
	Feb. 28, 2014
Segment Reporting [Abstract]	'
Segment Information	'
	Segment Information
		Three Months Ended February 28,
		2014						2013
		Balancer			Measurement			Balancer			Measurement
	Gross sales	$	2,201,178		$	1,123,186		$	2,023,483		$	1,002,351
	Intercompany sales		(231,317	)		(26,884	)		(213,564	)		(15,841	)
	Net sales	$	1,969,861		$	1,096,302		$	1,809,919		$	986,510
	Operating income (loss)	$	4,345		$	(86,000	)	$	68,552		$	(242,234	)
	Depreciation expense	$	32,786		$	12,542		$	35,448		$	17,630
	Amortization expense	$	0		$	33,659		$	0		$	33,659
	Capital expenditures	$	457		$	0		$	9,393		$	0
		Nine Months Ended February 28,
		2014						2013
		Balancer			Measurement			Balancer			Measurement
	Gross sales	$	6,603,586		$	3,316,516		$	6,539,053		$	3,288,795
	Intercompany sales		(765,987	)		(45,453	)		(604,450	)		(44,045	)
	Net sales	$	5,837,599		$	3,271,063		$	5,934,603		$	3,244,750
	Operating income (loss)	$	(236,031	)	$	(144,242	)	$	167,791		$	(328,704	)
	Depreciation expense	$	108,933		$	44,382		$	105,662		$	53,741
	Amortization expense	$	0		$	100,976		$	0		$	100,976
	Capital expenditures	$	1,893		$	0		$	49,223		$	102,787
Geographic Information-Net Sales by Geographic Area	'
	Geographic Information-Net Sales by Geographic Area
		Three Months Ended February 28,						Nine Months Ended February 28,
		2014			2013			2014			2013
	North America	$	1,763,223		$	1,948,358		$	5,455,496		$	6,040,977
	Europe		526,372			259,570			1,401,713			931,063
	Asia		742,006			515,040			2,115,187			1,956,977
	Other markets		34,562			73,461			136,266			250,336
	Total Net Sales	$	3,066,163		$	2,796,429		$	9,108,662		$	9,179,353
Segment Information of Operating Income (Loss) and Expenditure by Geographic Areas	'
		Three Months Ended February 28,
		2014						2013
		United States			Europe			United States			Europe
	Operating income (loss)	$	(185,597	)	$	103,942		$	(142,189	)	$	(31,493	)
	Depreciation expense	$	45,328		$	0		$	53,078		$	0
	Amortization expense	$	33,659		$	0		$	33,659		$	0
	Capital expenditures	$	457		$	0		$	9,393		$	0
		Nine Months Ended February 28,
		2014						2013
		United States			Europe			United States			Europe
	Operating income (loss)	$	(442,338	)	$	62,065		$	(96,811	)	$	(64,102	)
	Depreciation expense	$	153,315		$	0		$	159,403		$	0
	Amortization expense	$	100,976		$	0		$	100,976		$	0
	Capital expenditures	$	1,893		$	0		$	152,010		$	0
Segment and Geographic Assets	'
	Segment and Geographic Assets
		February 28, 2014			May 31, 2013
	Segment assets to total assets
	Balancer	$	4,733,193		$	5,489,976
	Measurement		4,257,143			4,177,456
	Corporate assets		1,903,799			1,957,166
	Total assets	$	10,894,135		$	11,624,598
	Geographic assets to long-lived assets
	United States	$	1,177,635		$	1,334,890
	Europe		0			0
	Total assets	$	1,177,635		$	1,334,890
	Geographic assets to total assets
	United States	$	9,862,422		$	11,021,901
	Europe		1,031,713			602,697
	Total assets	$	10,894,135		$	11,624,598

Inventory_Schedule_of_Inventor

Inventory - Schedule of Inventories (Detail) (USD $)	Feb. 28, 2014	31-May-13
Inventory Net [Abstract]	'	'
Raw materials	$1,974,479	$2,225,295
Work-in-process	784,694	1,132,534
Finished goods	1,780,034	1,696,258
Inventory Net	$4,539,207	$5,054,087

Line_of_Credit_Additional_Info

Line of Credit - Additional Information (Detail) (USD $)	9 Months Ended
	Feb. 28, 2014	31-May-13
Line of Credit Facility [Line Items]	'	'
Line of credit facility, maximum borrowing capacity	$2,000,000	'
Line of credit facility, expiration date	1-Sep-14	'
Bank's prime rate	3.25%	'
Interest rate description	'LIBOR plus 2.0%	'
Line of credit facility, amount outstanding	$0	$0
LIBOR plus rate [Member] | Minimum [Member]	'	'
Line of Credit Facility [Line Items]	'	'
LIBOR plus rate	2.00%	'
LIBOR plus rate [Member] | Maximum [Member]	'	'
Line of Credit Facility [Line Items]	'	'
LIBOR plus rate	2.16%	'

Stock_Options_and_StockBased_C2

Stock Options and Stock-Based Compensation - Additional Information (Detail) (USD $)	9 Months Ended
	Feb. 28, 2014	Feb. 28, 2013	Nov. 30, 2013	31-May-13
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]	'	'	'	'
Expected dividend rate	0.00%	'	'	'
Options issued	35,000	0	'	'
Outstanding stock options, total	286,666	'	286,666	301,666
Vested and exercisable stock options	204,998	'	'	'
Non-vested shares	81,668	'	'	'
Weighted average exercise price	$3.74	'	$3.74	$4.06
Additional stock-based compensation expense	$56,921	'	'	'

Stock_Options_and_StockBased_C3

Stock Options and Stock-Based Compensation - Schedule of Outstanding Stock Options (Detail) (USD $)	9 Months Ended
	Feb. 28, 2014	Nov. 30, 2013	31-May-13
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'
Number of Shares, Outstanding Options	286,666	286,666	301,666
Weighted Average Exercise Price, Outstanding Options	$3.74	$3.74	$4.06
Weighted Average Remaining Contractual Life (yrs), Outstanding Options	'6 years 1 month 6 days	'	'
Exercisable Options, Number of Shares	204,998	'	'
Exercisable Options, Weighted Average Exercise Price	$4.06	'	'
Options 1 [Member]	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'
Number of Shares, Outstanding Options	41,666	'	'
Weighted Average Exercise Price, Outstanding Options	$2.30	'	'
Weighted Average Remaining Contractual Life (yrs), Outstanding Options	'3 months 18 days	'	'
Exercisable Options, Number of Shares	41,666	'	'
Exercisable Options, Weighted Average Exercise Price	$2.30	'	'
Options 2 [Member]	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'
Number of Shares, Outstanding Options	35,000	'	'
Weighted Average Exercise Price, Outstanding Options	$2.53	'	'
Weighted Average Remaining Contractual Life (yrs), Outstanding Options	'9 years 7 months 6 days	'	'
Exercisable Options, Number of Shares	0	'	'
Options 3 [Member]	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'
Number of Shares, Outstanding Options	25,000	'	'
Weighted Average Exercise Price, Outstanding Options	$2.90	'	'
Weighted Average Remaining Contractual Life (yrs), Outstanding Options	'9 years 1 month 6 days	'	'
Exercisable Options, Number of Shares	0	'	'
Options 4 [Member]	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'
Number of Shares, Outstanding Options	130,000	'	'
Weighted Average Exercise Price, Outstanding Options	$3.65	'	'
Weighted Average Remaining Contractual Life (yrs), Outstanding Options	'7 years 3 months 18 days	'	'
Exercisable Options, Number of Shares	108,332	'	'
Exercisable Options, Weighted Average Exercise Price	$3.65	'	'
Options 5 [Member]	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'
Number of Shares, Outstanding Options	5,000	'	'
Weighted Average Exercise Price, Outstanding Options	$5.80	'	'
Weighted Average Remaining Contractual Life (yrs), Outstanding Options	'1 year 8 months 12 days	'	'
Exercisable Options, Number of Shares	5,000	'	'
Exercisable Options, Weighted Average Exercise Price	$5.80	'	'
Options 6 [Member]	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'
Number of Shares, Outstanding Options	50,000	'	'
Weighted Average Exercise Price, Outstanding Options	$6.25	'	'
Weighted Average Remaining Contractual Life (yrs), Outstanding Options	'4 years 3 months 18 days	'	'
Exercisable Options, Number of Shares	50,000	'	'
Exercisable Options, Weighted Average Exercise Price	$6.25	'	'

Stock_Options_and_StockBased_C4

Stock Options and Stock-Based Compensation - Schedule of Options Granted, Exercised, and Forfeited or Canceled (Detail) (USD $)	3 Months Ended	9 Months Ended
	Feb. 28, 2014	Feb. 28, 2014
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]	'	'
Number of Shares, Options outstanding-beginning of period	286,666	301,666
Number of Shares, Options granted	0	35,000
Number of Shares, Options exercised	0	0
Number of Shares, Options forfeited/canceled	0	-50,000
Number of Shares, Options outstanding-end of period	286,666	286,666
Weighted Average Exercise Price, Options outstanding-beginning of period	$3.74	$4.06
Weighted Average Exercise Price, Options granted	$0	$2.53
Weighted Average Exercise Price, Options exercised	$0	$0
Weighted Average Exercise Price, Options forfeited/canceled	$0	$4.82
Weighted Average Exercise Price, Options outstanding-end of period	$3.74	$3.74

EPS_Reconciliation_Schedule_of

EPS Reconciliation - Schedule of Earnings Per Share (Detail)	3 Months Ended		9 Months Ended
	Feb. 28, 2014	Feb. 28, 2013	Feb. 28, 2014	Feb. 28, 2013
Earnings Per Share [Abstract]	'	'	'	'
Weighted average shares (basic)	2,990,910	2,990,910	2,990,910	2,990,910
Effect of dilutive stock options	0	0	0	0
Weighted average shares (diluted)	2,990,910	2,990,910	2,990,910	2,990,910

EPS_Reconciliation_Additional_

EPS Reconciliation - Additional Information (Detail)	9 Months Ended
	Feb. 28, 2014
Earnings Per Share [Abstract]	'
Antidilutive common stock equivalents	0

Income_Taxes_Additional_Inform

Income Taxes - Additional Information (Detail) (USD $)	9 Months Ended		12 Months Ended	9 Months Ended
	Feb. 28, 2014	31-May-13	31-May-14	Feb. 28, 2014	Feb. 28, 2014	Feb. 28, 2014
			Forecast [Member]	Domestic Tax Authority [Member]	Foreign Tax Authority [Member]	Canada [Member]
				Minimum [Member]	Minimum [Member]	Minimum [Member]
Income Tax [Line Items]	'	'	'	'	'	'
Other long-term liabilities related to uncertain tax positions	$0	$0	'	'	'	'
Liability for payment of interest and penalties	$0	$0	'	'	'	'
Income tax examination period under examination	'	'	'	'2010	'2012	'2005
Effective tax rate on consolidated net income (loss)	2.00%	'	'	'	'	'
Effective tax rate for Fiscal 2014	'	'	2.70%	'	'	'

Segments_of_Business_Additiona

Segments of Business - Additional Information (Detail)	9 Months Ended
	Feb. 28, 2014
	Markets
	Segment
Segment Reporting [Abstract]	'
NumberOfReportableSegments	2
NumberOfGeographicSegments	3

Segments_of_Business_Segment_I

Segments of Business - Segment Information (Detail) (USD $)	3 Months Ended		9 Months Ended
	Feb. 28, 2014	Feb. 28, 2013	Feb. 28, 2014	Feb. 28, 2013
Segment Reporting Information [Line Items]	'	'	'	'
Net sales	$3,066,163	$2,796,429	$9,108,662	$9,179,353
Operating income (loss)	-81,655	-173,682	-380,273	-160,913
Balancer [Member] | Operating Segments [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Gross sales	2,201,178	2,023,483	6,603,586	6,539,053
Net sales	1,969,861	1,809,919	5,837,599	5,934,603
Operating income (loss)	4,345	68,552	-236,031	167,791
Depreciation expense	32,786	35,448	108,933	105,662
Amortization expense	0	0	0	0
Capital expenditures	457	9,393	1,893	49,223
Balancer [Member] | Intersegment Eliminations [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Intercompany sales	-231,317	-213,564	-765,987	-604,450
Measurement [Member] | Operating Segments [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Gross sales	1,123,186	1,002,351	3,316,516	3,288,795
Net sales	1,096,302	986,510	3,271,063	3,244,750
Operating income (loss)	-86,000	-242,234	-144,242	-328,704
Depreciation expense	12,542	17,630	44,382	53,741
Amortization expense	33,659	33,659	100,976	100,976
Capital expenditures	0	0	0	102,787
Measurement [Member] | Intersegment Eliminations [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Intercompany sales	($26,884)	($15,841)	($45,453)	($44,045)

Segments_of_Business_Geographi

Segments of Business - Geographic Information-Net Sales by Geographic Area (Detail) (USD $)	3 Months Ended		9 Months Ended
	Feb. 28, 2014	Feb. 28, 2013	Feb. 28, 2014	Feb. 28, 2013
Revenues from External Customers and Long-Lived Assets [Line Items]	'	'	'	'
Total Net Sales	$3,066,163	$2,796,429	$9,108,662	$9,179,353
North America [Member]	'	'	'	'
Revenues from External Customers and Long-Lived Assets [Line Items]	'	'	'	'
Total Net Sales	1,763,223	1,948,358	5,455,496	6,040,977
Europe [Member]	'	'	'	'
Revenues from External Customers and Long-Lived Assets [Line Items]	'	'	'	'
Total Net Sales	526,372	259,570	1,401,713	931,063
Asia [Member]	'	'	'	'
Revenues from External Customers and Long-Lived Assets [Line Items]	'	'	'	'
Total Net Sales	742,006	515,040	2,115,187	1,956,977
Other markets [Member]	'	'	'	'
Revenues from External Customers and Long-Lived Assets [Line Items]	'	'	'	'
Total Net Sales	$34,562	$73,461	$136,266	$250,336

Segments_of_Business_Segment_I1

Segments of Business - Segment Information of Operating Income (Loss) and Expenditure by Geographic Areas (Detail) (USD $)	3 Months Ended		9 Months Ended
	Feb. 28, 2014	Feb. 28, 2013	Feb. 28, 2014	Feb. 28, 2013
Revenues from External Customers and Long-Lived Assets [Line Items]	'	'	'	'
Operating income (loss)	($81,655)	($173,682)	($380,273)	($160,913)
United States [Member]	'	'	'	'
Revenues from External Customers and Long-Lived Assets [Line Items]	'	'	'	'
Operating income (loss)	-185,597	-142,189	-442,338	-96,811
Depreciation expense	45,328	53,078	153,315	159,403
Amortization expense	33,659	33,659	100,976	100,976
Capital expenditures	457	9,393	1,893	152,010
Europe [Member]	'	'	'	'
Revenues from External Customers and Long-Lived Assets [Line Items]	'	'	'	'
Operating income (loss)	103,942	-31,493	62,065	-64,102
Depreciation expense	0	0	0	0
Amortization expense	0	0	0	0
Capital expenditures	$0	$0	$0	$0

Segments_of_Business_Segment_a

Segments of Business - Segment and Geographic Assets (Detail) (USD $)	Feb. 28, 2014	31-May-13
Segment Reporting Information [Line Items]	'	'
Segment assets to total assets	$10,894,135	$11,624,598
Geographic assets to long-lived assets	1,177,635	1,334,890
Geographic assets to total assets	10,894,135	11,624,598
United States [Member]	'	'
Segment Reporting Information [Line Items]	'	'
Geographic assets to long-lived assets	1,177,635	1,334,890
Geographic assets to total assets	9,862,422	11,021,901
Europe [Member]	'	'
Segment Reporting Information [Line Items]	'	'
Geographic assets to long-lived assets	0	0
Geographic assets to total assets	1,031,713	602,697
Operating Segments [Member] | Balancer [Member]	'	'
Segment Reporting Information [Line Items]	'	'
Segment assets to total assets	4,733,193	5,489,976
Operating Segments [Member] | Measurement [Member]	'	'
Segment Reporting Information [Line Items]	'	'
Segment assets to total assets	4,257,143	4,177,456
Corporate assets [Member]	'	'
Segment Reporting Information [Line Items]	'	'
Segment assets to total assets	$1,903,799	$1,957,166