Strong Sales Boost WSI Industries Q1 Profit
(RTTNews) WSI Industries Inc. (WSCI), a contract manufacturer of high-precision industry parts, reported “third quarter results that have both sales and income at their highest levels in the last decade.”
The Monticello, Minnesota-based company's third-quarter net income was $598 thousand or $0.21 per share, compared to $397 thousand or $0.14 per share in the prior year period.
Benjamin Rashleger, president and chief executive officer, said, “Our bottom line profit results also improved with the fiscal 2012 third quarter at $.21 per diluted share equating to a 51% increase over the prior year quarter, which is also at the highest level in the last 10 years.”
Quarterly sales totaled $9.48 million, higher than the previous year's $6.53 million, and also exceeded any quarter in the last 10 years by over $2 million, the company said.
The company's recreational vehicle revenues increased by 38% over last year, while its energy business grew by 91%.
Gross margin rose to $1.92 million from $1.47 million reported in the same quarter of prior year.
In addition, WSI Industries also declared a quarterly dividend of $0.04 per share, which is payable on July 19, 2012 to holders of record on July 5, 2012.
The stock is currently trading at $5.93.
by RTT Staff Writer
For comments and feedback: contact email@example.com