Schmitt Industries (SMIT) 10-Q 9 Apr 15 2015 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Feb. 28, 2015	Mar. 31, 2015
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	FALSE
Document Period End Date	28-Feb-15
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q3
Trading Symbol	SMIT
Entity Registrant Name	SCHMITT INDUSTRIES INC
Entity Central Index Key	922612
Current Fiscal Year End Date	-26
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		2,995,910

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Feb. 28, 2015	31-May-14
Current assets
Cash and cash equivalents	$1,652,564	$1,510,565
Accounts receivable, net	2,453,944	2,235,194
Inventories	4,716,335	4,789,822
Prepaid expenses	165,617	152,237
Income taxes receivable	1,529	1,339
Total current assets	8,989,989	8,689,157
Property and equipment, net	1,099,892	1,191,591
Other assets
Intangible assets, net	852,294	943,643
TOTAL ASSETS	10,942,175	10,824,391
Current liabilities
Accounts payable	602,745	512,219
Accrued commissions	242,565	204,772
Accrued payroll liabilities	134,306	127,035
Other accrued liabilities	601,115	366,848
Income taxes payable	0	210
Total current liabilities	1,580,731	1,211,084
Stockholders' equity
Common stock, no par value, 20,000,000 shares authorized, 2,995,910 shares issued and outstanding at February 28, 2015 and May 31, 2014	10,488,463	10,438,750
Accumulated other comprehensive loss	-378,485	-263,337
Accumulated deficit	-748,534	-562,106
Total stockholders' equity	9,361,444	9,613,307
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$10,942,175	$10,824,391

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Feb. 28, 2015	31-May-14
Statement of Financial Position [Abstract]
Common stock, par value	$0	$0
Common stock, shares authorized	20,000,000	20,000,000
Common stock, shares issued	2,995,910	2,995,910
Common stock, shares outstanding	2,995,910	2,995,910

Consolidated_Statements_of_Ope

Consolidated Statements of Operations and Comprehensive Loss (USD $)	3 Months Ended		9 Months Ended
	Feb. 28, 2015	Feb. 28, 2014	Feb. 28, 2015	Feb. 28, 2014
Income Statement [Abstract]
Net sales	$3,010,618	$3,066,163	$9,211,410	$9,108,662
Cost of sales	1,660,256	1,608,233	4,843,303	4,851,742
Gross profit	1,350,362	1,457,930	4,368,107	4,256,920
Operating expenses:
General, administration and sales	1,405,140	1,387,972	4,243,492	4,246,720
Research and development	95,730	151,613	292,825	390,473
Total operating expenses	1,500,870	1,539,585	4,536,317	4,637,193
Operating loss	-150,508	-81,655	-168,210	-380,273
Other income (loss), net	-15,578	11,497	-11,181	5,404
Loss before income taxes	-166,086	-70,158	-179,391	-374,869
Provision for income taxes	2,285	1,949	7,037	6,998
Net loss	-168,371	-72,107	-186,428	-381,867
Net loss per common share:
Basic	($0.06)	($0.02)	($0.06)	($0.13)
Weighted average number of common shares, basic	2,995,910	2,990,910	2,995,910	2,990,910
Diluted	($0.06)	($0.02)	($0.06)	($0.13)
Weighted average number of common shares, diluted	2,995,910	2,990,910	2,995,910	2,990,910
Comprehensive loss
Net loss	-168,371	-72,107	-186,428	-381,867
Foreign currency translation adjustment	-36,239	9,561	-115,148	62,485
Total comprehensive loss	($204,610)	($62,546)	($301,576)	($319,382)

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	9 Months Ended
	Feb. 28, 2015	Feb. 28, 2014
Cash flows relating to operating activities
Net loss	($186,428)	($381,867)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization	201,982	254,291
Gain on disposal of property and equipment	0	-13,667
Stock based compensation	49,713	42,042
(Increase) decrease in:
Accounts receivable	-244,823	-136,344
Inventories	50,305	544,102
Prepaid expenses	-15,192	80,283
Income taxes receivable	-190	30,152
Increase (decrease) in:
Accounts payable	95,133	-398,357
Accrued liabilities and customer deposits	285,074	-65,706
Income taxes payable	-210	0
Net cash provided by (used in) operating activities	235,364	-45,071
Cash flows relating to investing activities
Purchases of property and equipment	-18,933	-1,893
Proceeds from sales of property and equipment	0	19,500
Net cash provided by (used in) investing activities	-18,933	17,607
Cash flows relating to financing activities
Increase in line of credit	0	400,000
Payments on line of credit	0	-400,000
Net cash provided by (used in) financing activities	0	0
Effect of foreign exchange translation on cash	-74,432	4,249
Increase (decrease) in cash and cash equivalents	141,999	-23,215
Cash and cash equivalents, beginning of period	1,510,565	1,909,071
Cash and cash equivalents, end of period	1,652,564	1,885,856
Supplemental disclosure of cash flow information
Cash paid during the period for income taxes	7,427	7,061
Cash paid during the period for interest	$2,709	$8,378

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, 2014	$9,613,307	$10,438,750	($263,337)	($562,106)
Beginning balance, shares at May. 31, 2014	2,995,910	2,995,910
Stock-based compensation	49,713	49,713	0	0
Net loss	-186,428	0	0	-186,428
Other comprehensive loss	-115,148	0	-115,148	0
Ending balance at Feb. 28, 2015	$9,361,444	$10,488,463	($378,485)	($748,534)
Ending balance, shares at Feb. 28, 2015	2,995,910	2,995,910

Summary_of_Significant_Account

Summary of Significant Accounting Policies	9 Months Ended
	Feb. 28, 2015
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, 2015 and its results of operations and its cash flows for the periods presented. The consolidated balance sheet at May 31, 2014 has been derived from the Annual Report on Form 10-K for the fiscal year ended May 31, 2014. 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, 2014. 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, 2015.
	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, and accounts payable) also approximates fair value because of their short-term maturities.
	Accounts Receivable
	The Company maintains credit limits for all customers based upon several factors, including but not limited to financial condition and stability, payment history, published credit reports and use of credit references. Management performs various analyses to evaluate accounts receivable balances to ensure recorded amounts reflect estimated net realizable value. This review includes using accounts receivable agings, other operating trends and relevant business conditions, including general economic factors, as they relate to each of the Company’s domestic and international customers. If these analyses lead management to the conclusion that potential significant accounts are uncollectible, a reserve is provided. The allowance for doubtful accounts was $58,748 and $63,297 as of February 28, 2015 and May 31, 2014, respectively.
	Inventories
	Inventories are 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, 2015 and May 31, 2014, inventories consisted of:
		February 28, 2015			May 31, 2014
	Raw materials	$	1,865,341		$	1,888,985
	Work-in-process		1,319,139			994,009
	Finished goods		1,531,855			1,906,828
		$	4,716,335		$	4,789,822
	Property and Equipment
	Property and equipment are stated at cost. Depreciation is computed using the straight-line method over estimated useful lives of three to seven years for furniture, fixtures and equipment; three years for vehicles; and twenty-five years for buildings and improvements. As of February 28, 2015 and May 31, 2014, property and equipment consisted of:
		February 28, 2015			May 31, 2014
	Land	$	299,000		$	299,000
	Buildings and improvements		1,814,524			1,805,951
	Furniture, fixtures and equipment		1,378,890			1,370,131
	Vehicles		86,838			86,838
			3,579,252			3,561,920
	Less accumulated depreciation		(2,479,360	)		(2,370,329	)
		$	1,099,892		$	1,191,591

Line_of_Credit

Line of Credit	9 Months Ended
	Feb. 28, 2015
Debt Disclosure [Abstract]
Line of Credit	Note 2:
	LINE OF CREDIT
	The Company had a $2 million bank line of credit secured by U.S. accounts receivable, inventories, general intangibles and a depository account. The line of credit was subject to certain covenant requirements if draws on the line were executed. Interest was payable at the bank’s prime rate or LIBOR plus 2.0%. The term on the line of credit expired on September 1, 2014, and the Company chose not to renew the line. The outstanding balance on the line of credit was $0 at May 31, 2014.

Stock_Options_and_StockBased_C

Stock Options and Stock-Based Compensation	9 Months Ended
	Feb. 28, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock Options and Stock-Based Compensation	Note 3:
	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.
	To determine stock-based compensation expense recognized for those options granted during the nine months ended February 28, 2015 and 2014, the Company has computed the value of all stock options granted using the Black-Scholes option pricing model. 87,500 and 35,000 options were issued during the nine months ended February 28, 2015 and February 28, 2014, respectively.
	At February 28, 2015, the Company had a total of 332,500 outstanding stock options (205,002 vested and exercisable and 127,498 non-vested) with a weighted average exercise price of $3.68. The Company estimates that $107,758 will be recorded as additional stock-based compensation expense for all options that were outstanding as of February 28, 2015, but which were not yet vested.
	Outstanding Options						Exercisable Options
	Number of		Weighted		Weighted		Number of			Weighted
	Shares		Average		Average		Shares			Average
			Exercise Price		Remaining					Exercise Price
					Contractual
					Life (yrs)
	35,000		$	2.53		8.6		11,668		$	2.53
	112,500			2.84		9.3		8,334			2.9
	130,000			3.65		6.3		130,000			3.65
	5,000			5.8		0.7		5,000			5.8
	50,000			6.25		3.3		50,000			6.25
	332,500			3.68		7		205,002			4.24
	Options granted, exercised, and forfeited or canceled under the Company’s stock option plan during the three and nine months ended February 28, 2015 are summarized as follows:
			Three Months Ended				Nine Months Ended
			28-Feb-15				28-Feb-15
			Number of		Weighted		Number of			Weighted
			Shares		Average		Shares			Average
					Exercise					Exercise Price
					Price
	Options outstanding - beginning of period			332,500	$	3.68		281,666		$	3.77
	Options granted			0		0		87,500			2.82
	Options exercised			0		0		0			0
	Options forfeited/canceled			0		0		(36,666	)		2.3
	Options outstanding - end of period			332,500		3.68		332,500			3.68

EPS_Reconciliation

EPS Reconciliation	9 Months Ended
	Feb. 28, 2015
Earnings Per Share [Abstract]
EPS Reconciliation	Note 4:
	EPS RECONCILIATION
		Three Months Ended				Nine Months Ended
		February 28,				February 28,
		2015		2014		2015		2014
	Weighted average shares (basic)		2,995,910		2,990,910		2,995,910		2,990,910
	Effect of dilutive stock options		0		0		0		0
	Weighted average shares (diluted)		2,995,910		2,990,910		2,995,910		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, 2015
Income Tax Disclosure [Abstract]
Income Taxes	Note 5:
	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.
	Other long-term liabilities related to tax contingencies were $0 as of both February 28, 2015 and May 31, 2014. 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, 2015 and May 31, 2014.
	Several tax years are subject to examination by major tax jurisdictions. In the United States, federal tax years for Fiscal 2011 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 3.9% for the nine months ended February 28, 2015. The effective tax rate on consolidated net income (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 2015 will be approximately 5.1% due to the items noted above.

Segments_of_Business

Segments of Business	9 Months Ended
	Feb. 28, 2015
Segment Reporting [Abstract]
Segments of Business	Note 6:
	SEGMENTS OF BUSINESS
	The Company has two reportable business segments: dynamic balancing and process control systems for the machine tool industry (Balancer) and laser-based test and measurement systems and ultrasonic measurement products (Measurement). The Company operates in three principal geographic markets: North America, Europe and Asia.
	Segment Information
		Three Months Ended February 28,
		2015						2014
		Balancer			Measurement			Balancer			Measurement
	Gross sales	$	2,269,691		$	1,108,449		$	2,201,178		$	1,123,186
	Intercompany sales		(366,209	)		(1,313	)		(231,317	)		(26,884	)
	Net sales	$	1,903,482		$	1,107,136		$	1,969,861		$	1,096,302
	Operating loss	$	(127,375	)	$	(23,133	)	$	4,345		$	(86,000	)
	Depreciation expense	$	23,271		$	10,879		$	32,786		$	12,542
	Amortization expense	$	0		$	27,882		$	0		$	33,659
	Capital expenditures	$	5,883		$	0		$	457		$	0
		Nine Months Ended February 28,
		2015						2014
		Balancer			Measurement			Balancer			Measurement
	Gross sales	$	6,537,038		$	3,517,884		$	6,603,586		$	3,316,516
	Intercompany sales		(870,537	)		27,025			(765,987	)		(45,453	)
	Net sales	$	5,666,501		$	3,544,909		$	5,837,599		$	3,271,063
	Operating income (loss)	$	(237,357	)	$	69,147		$	(236,031	)	$	(144,242	)
	Depreciation expense	$	77,543		$	33,090		$	108,933		$	44,382
	Amortization expense	$	0		$	91,349		$	0		$	100,976
	Capital expenditures	$	18,933		$	0		$	1,893		$	0
	Geographic Information-Net Sales by Geographic Area
		Three Months Ended February 28,						Nine Months Ended February 28,
		2015			2014			2015			2014
	North America	$	1,894,564		$	1,763,223		$	5,713,638		$	5,455,496
	Europe		226,011			526,372			852,561			1,401,713
	Asia		807,875			742,006			2,435,357			2,115,187
	Other markets		82,168			34,562			209,854			136,266
	Total net sales	$	3,010,618		$	3,066,163		$	9,211,410		$	9,108,662
		Three Months Ended February 28,
		2015						2014
		United States			Europe			United States			Europe
	Operating income (loss)	$	(115,502	)	$	(35,006	)	$	(185,597	)	$	103,942
	Depreciation expense	$	34,150		$	0		$	45,328		$	0
	Amortization expense	$	27,882		$	0		$	33,659		$	0
	Capital expenditures	$	5,883		$	0		$	457		$	0
		Nine Months Ended February 28,
		2015						2014
		United States			Europe			United States			Europe
	Operating income (loss)	$	(151,969	)	$	(16,241	)	$	(442,338	)	$	62,065
	Depreciation expense	$	110,633		$	0		$	153,315		$	0
	Amortization expense	$	91,349		$	0		$	100,976		$	0
	Capital expenditures	$	18,933		$	0		$	1,893		$	0
	Note – – Europe is defined as the European subsidiary, Schmitt Europe, Ltd.
	Segment and Geographic Assets
		February 28, 2015			May 31, 2014
	Segment assets to total assets
	Balancer	$	4,944,084		$	4,863,423
	Measurement		4,343,994			4,449,064
	Corporate assets		1,654,097			1,511,904
	Total assets	$	10,942,175		$	10,824,391
	Geographic assets to long-lived assets
	United States	$	1,099,892		$	1,191,591
	Europe		0			0
	Total long-lived assets	$	1,099,892		$	1,191,591
	Geographic assets to total assets
	United States	$	9,694,718		$	10,090,242
	Europe		1,247,457			734,149
	Total assets	$	10,942,175		$	10,824,391

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Feb. 28, 2015
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, 2015 and its results of operations and its cash flows for the periods presented. The consolidated balance sheet at May 31, 2014 has been derived from the Annual Report on Form 10-K for the fiscal year ended May 31, 2014. 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, 2014. 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, 2015.
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, and accounts payable) also approximates fair value because of their short-term maturities.
Accounts Receivable	Accounts Receivable
	The Company maintains credit limits for all customers based upon several factors, including but not limited to financial condition and stability, payment history, published credit reports and use of credit references. Management performs various analyses to evaluate accounts receivable balances to ensure recorded amounts reflect estimated net realizable value. This review includes using accounts receivable agings, other operating trends and relevant business conditions, including general economic factors, as they relate to each of the Company’s domestic and international customers. If these analyses lead management to the conclusion that potential significant accounts are uncollectible, a reserve is provided. The allowance for doubtful accounts was $58,748 and $63,297 as of February 28, 2015 and May 31, 2014, respectively.
Inventories	Inventories
	Inventories are 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, 2015 and May 31, 2014, inventories consisted of:
		February 28, 2015			May 31, 2014
	Raw materials	$	1,865,341		$	1,888,985
	Work-in-process		1,319,139			994,009
	Finished goods		1,531,855			1,906,828
		$	4,716,335		$	4,789,822
Property and Equipment	Property and Equipment
	Property and equipment are stated at cost. Depreciation is computed using the straight-line method over estimated useful lives of three to seven years for furniture, fixtures and equipment; three years for vehicles; and twenty-five years for buildings and improvements. As of February 28, 2015 and May 31, 2014, property and equipment consisted of:
		February 28, 2015			May 31, 2014
	Land	$	299,000		$	299,000
	Buildings and improvements		1,814,524			1,805,951
	Furniture, fixtures and equipment		1,378,890			1,370,131
	Vehicles		86,838			86,838
			3,579,252			3,561,920
	Less accumulated depreciation		(2,479,360	)		(2,370,329	)
		$	1,099,892		$	1,191,591

Summary_of_Significant_Account2

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Feb. 28, 2015
Accounting Policies [Abstract]
Inventories	As of February 28, 2015 and May 31, 2014, inventories consisted of:
		February 28, 2015			May 31, 2014
	Raw materials	$	1,865,341		$	1,888,985
	Work-in-process		1,319,139			994,009
	Finished goods		1,531,855			1,906,828
		$	4,716,335		$	4,789,822
Summary of Property and Equipment	As of February 28, 2015 and May 31, 2014, property and equipment consisted of:
		February 28, 2015			May 31, 2014
	Land	$	299,000		$	299,000
	Buildings and improvements		1,814,524			1,805,951
	Furniture, fixtures and equipment		1,378,890			1,370,131
	Vehicles		86,838			86,838
			3,579,252			3,561,920
	Less accumulated depreciation		(2,479,360	)		(2,370,329	)
		$	1,099,892		$	1,191,591

Stock_Options_and_StockBased_C1

Stock Options and Stock-Based Compensation (Tables)	9 Months Ended
	Feb. 28, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Outstanding Stock Options	The Company estimates that $107,758 will be recorded as additional stock-based compensation expense for all options that were outstanding as of February 28, 2015, but which were not yet vested.
	Outstanding Options					Exercisable Options
	Number of	Weighted		Weighted		Number of			Weighted
	Shares	Average		Average		Shares			Average
		Exercise Price		Remaining					Exercise Price
				Contractual
				Life (yrs)
	35,000	$	2.53		8.6		11,668		$	2.53
	112,500		2.84		9.3		8,334			2.9
	130,000		3.65		6.3		130,000			3.65
	5,000		5.8		0.7		5,000			5.8
	50,000		6.25		3.3		50,000			6.25
	332,500		3.68		7		205,002			4.24
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, 2015 are summarized as follows:
		Three Months Ended				Nine Months Ended
		28-Feb-15				28-Feb-15
		Number of		Weighted		Number of			Weighted
		Shares		Average		Shares			Average
				Exercise					Exercise Price
				Price
	Options outstanding - beginning of period		332,500	$	3.68		281,666		$	3.77
	Options granted		0		0		87,500			2.82
	Options exercised		0		0		0			0
	Options forfeited/canceled		0		0		(36,666	)		2.3
	Options outstanding - end of period		332,500		3.68		332,500			3.68

EPS_Reconciliation_Tables

EPS Reconciliation (Tables)	9 Months Ended
	Feb. 28, 2015
Earnings Per Share [Abstract]
Schedule of Earnings Per Share	Three Months Ended					Nine Months Ended
	February 28,					February 28,
		2015		2014			2015		2014
	Weighted average shares (basic)		2,995,910		2,990,910			2,995,910		2,990,910
	Effect of dilutive stock options		0		0			0		0
	Weighted average shares (diluted)		2,995,910		2,990,910			2,995,910		2,990,910

Segments_of_Business_Tables

Segments of Business (Tables)	9 Months Ended
	Feb. 28, 2015
Segment Reporting [Abstract]
Segment Information	Segment Information
		Three Months Ended February 28,
		2015						2014
		Balancer			Measurement			Balancer			Measurement
	Gross sales	$	2,269,691		$	1,108,449		$	2,201,178		$	1,123,186
	Intercompany sales		(366,209	)		(1,313	)		(231,317	)		(26,884	)
	Net sales	$	1,903,482		$	1,107,136		$	1,969,861		$	1,096,302
	Operating loss	$	(127,375	)	$	(23,133	)	$	4,345		$	(86,000	)
	Depreciation expense	$	23,271		$	10,879		$	32,786		$	12,542
	Amortization expense	$	0		$	27,882		$	0		$	33,659
	Capital expenditures	$	5,883		$	0		$	457		$	0
		Nine Months Ended February 28,
		2015						2014
		Balancer			Measurement			Balancer			Measurement
	Gross sales	$	6,537,038		$	3,517,884		$	6,603,586		$	3,316,516
	Intercompany sales		(870,537	)		27,025			(765,987	)		(45,453	)
	Net sales	$	5,666,501		$	3,544,909		$	5,837,599		$	3,271,063
	Operating income (loss)	$	(237,357	)	$	69,147		$	(236,031	)	$	(144,242	)
	Depreciation expense	$	77,543		$	33,090		$	108,933		$	44,382
	Amortization expense	$	0		$	91,349		$	0		$	100,976
	Capital expenditures	$	18,933		$	0		$	1,893		$	0
Geographic Information-Net Sales by Geographic Area	Geographic Information-Net Sales by Geographic Area
		Three Months Ended February 28,						Nine Months Ended February 28,
		2015			2014			2015			2014
	North America	$	1,894,564		$	1,763,223		$	5,713,638		$	5,455,496
	Europe		226,011			526,372			852,561			1,401,713
	Asia		807,875			742,006			2,435,357			2,115,187
	Other markets		82,168			34,562			209,854			136,266
	Total net sales	$	3,010,618		$	3,066,163		$	9,211,410		$	9,108,662
Segment Information of Operating Income (Loss) and Expenditure by Geographic Areas
		Three Months Ended February 28,
		2015						2014
		United States			Europe			United States			Europe
	Operating income (loss)	$	(115,502	)	$	(35,006	)	$	(185,597	)	$	103,942
	Depreciation expense	$	34,150		$	0		$	45,328		$	0
	Amortization expense	$	27,882		$	0		$	33,659		$	0
	Capital expenditures	$	5,883		$	0		$	457		$	0
		Nine Months Ended February 28,
		2015						2014
		United States			Europe			United States			Europe
	Operating income (loss)	$	(151,969	)	$	(16,241	)	$	(442,338	)	$	62,065
	Depreciation expense	$	110,633		$	0		$	153,315		$	0
	Amortization expense	$	91,349		$	0		$	100,976		$	0
	Capital expenditures	$	18,933		$	0		$	1,893		$	0
Segment and Geographic Assets	Segment and Geographic Assets
		February 28, 2015			May 31, 2014
	Segment assets to total assets
	Balancer	$	4,944,084		$	4,863,423
	Measurement		4,343,994			4,449,064
	Corporate assets		1,654,097			1,511,904
	Total assets	$	10,942,175		$	10,824,391
	Geographic assets to long-lived assets
	United States	$	1,099,892		$	1,191,591
	Europe		0			0
	Total long-lived assets	$	1,099,892		$	1,191,591
	Geographic assets to total assets
	United States	$	9,694,718		$	10,090,242
	Europe		1,247,457			734,149
	Total assets	$	10,942,175		$	10,824,391

Summary_of_Significant_Account3

Summary of Significant Accounting Policies - Additional Information (Detail) (USD $)	9 Months Ended
	Feb. 28, 2015	31-May-14
Significant Accounting Policies [Line Items]
Allowance for doubtful accounts	58,748	$63,297
Vehicles [Member]
Significant Accounting Policies [Line Items]
Property and equipment, useful life	3 years
Building and Improvements [Member]
Significant Accounting Policies [Line Items]
Property and equipment, useful life	25 years
Minimum [Member] | Furniture, Fixtures and Equipment [Member]
Significant Accounting Policies [Line Items]
Property and equipment, useful life	3 years
Maximum [Member] | Furniture, Fixtures and Equipment [Member]
Significant Accounting Policies [Line Items]
Property and equipment, useful life	7 years

Summary_of_Significant_Account4

Summary of Significant Accounting Policies - Schedule of Inventories (Detail) (USD $)	Feb. 28, 2015	31-May-14
Inventory, Net [Abstract]
Raw materials	$1,865,341	$1,888,985
Work-in-process	1,319,139	994,009
Finished goods	1,531,855	1,906,828
Inventories	$4,716,335	$4,789,822

Summary_of_Significant_Account5

Summary of Significant Accounting Policies - Summary of Property and Equipment (Detail) (USD $)	Feb. 28, 2015	31-May-14
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$3,579,252	$3,561,920
Less accumulated depreciation	-2,479,360	-2,370,329
Property, plant and equipment, net	1,099,892	1,191,591
Land [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	299,000	299,000
Building and Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	1,814,524	1,805,951
Furniture, Fixtures and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	1,378,890	1,370,131
Vehicles [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$86,838	$86,838

Line_of_Credit_Additional_Info

Line of Credit - Additional Information (Detail) (USD $)	9 Months Ended
	Feb. 28, 2015	31-May-14
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
Interest rate description	Interest was payable at the bank's prime rate or LIBOR plus 2.0%.
Line of credit facility, amount outstanding		$0
LIBOR plus rate [Member]
Line of Credit Facility [Line Items]
LIBOR plus rate	2.00%

Stock_Options_and_StockBased_C2

Stock Options and Stock-Based Compensation - Additional Information (Detail) (USD $)	3 Months Ended	6 Months Ended	9 Months Ended
	Feb. 28, 2015	Nov. 30, 2014	Feb. 28, 2015	Feb. 28, 2014	31-May-14
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Expected dividend rate		0.00%
Options Granted	0		87,500	35,000
Outstanding stock options, total	332,500	332,500	332,500		281,666
Vested and exercisable stock options	205,002		205,002
Non-vested shares	127,498		127,498
Weighted average exercise price	$3.68	$3.68	$3.68		$3.77
Additional stock-based compensation expense	$107,758		$107,758

Stock_Options_and_StockBased_C3

Stock Options and Stock-Based Compensation - Schedule of Outstanding Stock Options (Detail) (USD $)	9 Months Ended
	Feb. 28, 2015	Nov. 30, 2014	31-May-14
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares, Outstanding Options	332,500	332,500	281,666
Weighted Average Exercise Price, Outstanding Options	$3.68	$3.68	$3.77
Weighted Average Remaining Contractual Life (yrs), Outstanding Options	7 years
Exercisable Options, Number of Shares	205,002
Exercisable Options, Weighted Average Exercise Price	$4.24
Options 1 [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	8 years 7 months 6 days
Exercisable Options, Number of Shares	11,668
Exercisable Options, Weighted Average Exercise Price	$2.53
Options 2 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares, Outstanding Options	112,500
Weighted Average Exercise Price, Outstanding Options	$2.84
Weighted Average Remaining Contractual Life (yrs), Outstanding Options	9 years 3 months 18 days
Exercisable Options, Number of Shares	8,334
Exercisable Options, Weighted Average Exercise Price	$2.90
Options 3 [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	6 years 3 months 18 days
Exercisable Options, Number of Shares	130,000
Exercisable Options, Weighted Average Exercise Price	$3.65
Options 4 [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	8 months 12 days
Exercisable Options, Number of Shares	5,000
Exercisable Options, Weighted Average Exercise Price	$5.80
Options 5 [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	3 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, 2015	Feb. 28, 2015	Feb. 28, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Number of Shares, Options outstanding - beginning of period	332,500	281,666
Number of Shares, Options granted	0	87,500	35,000
Number of Shares, Options exercised	0	0
Number of Shares, Options forfeited/canceled	0	-36,666
Number of Shares, Options outstanding - end of period	332,500	332,500
Weighted Average Exercise Price, Options outstanding - beginning of period	$3.68	$3.77
Weighted Average Exercise Price, Options granted	$0	$2.82
Weighted Average Exercise Price, Options exercised	$0	$0
Weighted Average Exercise Price, Options forfeited/canceled	$0	$2.30
Weighted Average Exercise Price, Options outstanding - end of period	$3.68	$3.68

EPS_Reconciliation_Schedule_of

EPS Reconciliation - Schedule of Earnings Per Share (Detail)	3 Months Ended		9 Months Ended
	Feb. 28, 2015	Feb. 28, 2014	Feb. 28, 2015	Feb. 28, 2014
Earnings Per Share [Abstract]
Weighted average shares (basic)	2,995,910	2,990,910	2,995,910	2,990,910
Effect of dilutive stock options	0	0	0	0
Weighted average shares (diluted)	2,995,910	2,990,910	2,995,910	2,990,910

EPS_Reconciliation_Additional_

EPS Reconciliation - Additional Information (Detail)	9 Months Ended
	Feb. 28, 2015
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	6 Months Ended
	Feb. 28, 2015	31-May-15	Nov. 30, 2014	31-May-14
Income Tax Contingency [Line Items]
Other long-term liabilities related to uncertain tax positions	$0			$0
Liability for payment of interest and penalties	$0			$0
Effective tax rate on consolidated net loss	3.90%
Forecast [Member]
Income Tax Contingency [Line Items]
Effective tax rate for Fiscal 2015		5.10%
Earliest tax year [Member] | Canada [Member]
Income Tax Contingency [Line Items]
Income tax examination period under examination			2005
Domestic Tax Authority [Member] | Earliest tax year [Member]
Income Tax Contingency [Line Items]
Income tax examination period under examination			2011
Foreign Tax Authority [Member] | Earliest tax year [Member] | UNITED KINGDOM
Income Tax Contingency [Line Items]
Income tax examination period under examination			2012

Segments_of_Business_Additiona

Segments of Business - Additional Information (Detail)	6 Months Ended
	Nov. 30, 2014
	Markets
	Segment
Segment Reporting [Abstract]
Number of reportable business segments	2
Number of geographic markets in which entity operates	3

Segments_of_Business_Segment_I

Segments of Business - Segment Information (Detail) (USD $)	3 Months Ended		9 Months Ended
	Feb. 28, 2015	Feb. 28, 2014	Feb. 28, 2015	Feb. 28, 2014
Segment Reporting Information [Line Items]
Net sales	$3,010,618	$3,066,163	$9,211,410	$9,108,662
Operating income (loss)	-150,508	-81,655	-168,210	-380,273
Capital expenditures			18,933	1,893
Measurement [Member]
Segment Reporting Information [Line Items]
Net sales	1,107,136	1,096,302	3,544,909	3,271,063
Operating income (loss)	-23,133	-86,000	69,147	-144,242
Depreciation expense	10,879	12,542	33,090	44,382
Amortization expense	27,882	33,659	91,349	100,976
Capital expenditures	0	0	0	0
Balancer [Member]
Segment Reporting Information [Line Items]
Net sales	1,903,482	1,969,861	5,666,501	5,837,599
Operating income (loss)	-127,375	4,345	-237,357	-236,031
Depreciation expense	23,271	32,786	77,543	108,933
Amortization expense	0	0	0	0
Capital expenditures	5,883	457	18,933	1,893
Operating Segments [Member] | Measurement [Member]
Segment Reporting Information [Line Items]
Net sales	1,108,449	1,123,186	3,517,884	3,316,516
Operating Segments [Member] | Balancer [Member]
Segment Reporting Information [Line Items]
Net sales	2,269,691	2,201,178	6,537,038	6,603,586
Intersegment Eliminations [Member] | Measurement [Member]
Segment Reporting Information [Line Items]
Net sales	-1,313	-26,884	27,025	-45,453
Intersegment Eliminations [Member] | Balancer [Member]
Segment Reporting Information [Line Items]
Net sales	($366,209)	($231,317)	($870,537)	($765,987)

Segments_of_Business_Geographi

Segments of Business - Geographic Information-Net Sales by Geographic Area (Detail) (USD $)	3 Months Ended		9 Months Ended
	Feb. 28, 2015	Feb. 28, 2014	Feb. 28, 2015	Feb. 28, 2014
Revenues from External Customers and Long-Lived Assets [Line Items]
Total net sales	$3,010,618	$3,066,163	$9,211,410	$9,108,662
North America [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total net sales	1,894,564	1,763,223	5,713,638	5,455,496
Europe [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total net sales	226,011	526,372	852,561	1,401,713
Asia [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total net sales	807,875	742,006	2,435,357	2,115,187
Other markets [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total net sales	$82,168	$34,562	$209,854	$136,266

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, 2015	Feb. 28, 2014	Feb. 28, 2015	Feb. 28, 2014
Revenues from External Customers and Long-Lived Assets [Line Items]
Operating income (loss)	($150,508)	($81,655)	($168,210)	($380,273)
Capital expenditures			18,933	1,893
United States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Operating income (loss)	-115,502	-185,597	-151,969	-442,338
Depreciation expense	34,150	45,328	110,633	153,315
Amortization expense	27,882	33,659	91,349	100,976
Capital expenditures	5,883	457	18,933	1,893
Schmitt Europe, Ltd [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Operating income (loss)	-35,006	103,942	-16,241	62,065
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, 2015	31-May-14
Segment Reporting Information [Line Items]
Segment and geographic assets to total assets	$10,942,175	$10,824,391
Geographic assets to long-lived assets	1,099,892	1,191,591
Segment and geographic assets to total assets	10,942,175	10,824,391
United States [Member]
Segment Reporting Information [Line Items]
Segment and geographic assets to total assets	9,694,718	10,090,242
Geographic assets to long-lived assets	1,099,892	1,191,591
Segment and geographic assets to total assets	9,694,718	10,090,242
Schmitt Europe, Ltd [Member]
Segment Reporting Information [Line Items]
Segment and geographic assets to total assets	1,247,457	734,149
Geographic assets to long-lived assets	0	0
Segment and geographic assets to total assets	1,247,457	734,149
Operating Segments [Member] | Balancer [Member]
Segment Reporting Information [Line Items]
Segment and geographic assets to total assets	4,944,084	4,863,423
Segment and geographic assets to total assets	4,944,084	4,863,423
Operating Segments [Member] | Measurement [Member]
Segment Reporting Information [Line Items]
Segment and geographic assets to total assets	4,343,994	4,449,064
Segment and geographic assets to total assets	4,343,994	4,449,064
Corporate assets [Member]
Segment Reporting Information [Line Items]
Segment and geographic assets to total assets	1,654,097	1,511,904
Segment and geographic assets to total assets	$1,654,097	$1,511,904