Item 2.02 Results of Operations and Financial Condition.

On July 14, 2009, Schmitt Industries, Inc. issued a press release entitled "Schmitt Industries Announces Fourth Quarter and Fiscal Year 2009 Operating Results." A copy of the press release is furnished as Exhibit 99.1 to this report.

The information contained in this Current Report shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or incorporated by reference in any filing under the Exchange Act or the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing.

Item 5.02 Departure of Directors or Principal Officers; Election of Directors;
Appointment of Principal Officers; Compensatory Arrangements of Certain Officers.

Effective July 16, 2009, the salary of Schmitt Industries, Inc.'s Chairman and Chief Executive Officer will be reduced by approximately 11% to an annual salary of approximately $195,000. This reduction is in addition to an approximately 19% reduction effective March 1, 2009 resulting in a total 30% reduction for this calendar year. We anticipate this pay cut will remain in effect until the company improves its operating performance.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

99.1 Press release entitled "Schmitt Industries Announces Fourth Quarter and Fiscal Year 2009 Operating Results" dated July 14, 2009.

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