How did SMID's Q3 earnings compare to previous quarters?

**Smith-Midland Corp (SMID) demonstrated significant improvements in its Q3 earnings compared to previous quarters**, as evidenced by the following key points:

1. **Revenue Increase**: SMID's revenue for Q3 increased by 13% to $16.4 million, marking the highest quarterly revenue in the company's history. This rise was driven by higher sales in both product and service segments, with product sales growing by 10% to $8.9 million and service revenue increasing by 17% to $7.5 million.
2. **Profitability Improvement**: The company reported a net income of $230,000, or $0.04 per diluted share, in Q3, compared to $5,000 and $0.00 per diluted share in the prior-year quarter. This significant improvement in net income was due to increased revenue and better cost management.
3. **Gross Profit Enhancement**: SMID achieved a gross profit of $6,578,000 in Q3, up from $3,577,000 in the same quarter of the previous year. This increase was attributed to higher production volumes and a more favorable product mix, which helped reduce the cost ratio.
4. **Operating Income Turnaround**: The company's operating income for Q3 was $542,000, a stark contrast to the operating loss of $72,000 in the prior-year quarter. This turnaround was a result of improved revenue and cost management efforts.
5. **Cash Position Strengthening**: SMID ended the quarter with $9.2 million in cash, up from $6.7 million as of December 31, 2022. This strengthening cash position reflects the company's financial health and its ability to invest in growth opportunities.

In conclusion, SMID's Q3 earnings showcased robust growth in revenue and profitability, marking a significant upward trajectory in the company's financial performance compared to previous quarters.