This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

WSI Industries Reports Strong Increase In First Quarter Earnings

Stocks in this article: WSCI

WSI Industries, Inc. (Nasdaq: WSCI) today reported sales for its fiscal 2012 first quarter ending November 27, 2011 of $5,987,000, an 8.3% increase versus the prior year amount of $5,528,000. Net income for the fiscal 2012 first quarter was $105,000 or $.04 per diluted share which represented a 137% increase over the prior year quarter of $44,000 or $.02 per diluted share.

Benjamin Rashleger, president and chief executive officer, commented: “We experienced a strong year over year bottom line increase in our fiscal 2012 first quarter. Sales in all of our major industries remained strong.” Rashleger further stated: “We previously announced new programs in our energy business. During our fiscal 2012 first quarter, we experienced our first deliveries in most of these new programs.” Rashleger concluded: “We expended significant resources in starting up these new programs in our fiscal 2012 first quarter. With most of these programs out of start-up and into production mode, we remain optimistic about our fiscal 2012 and anticipate that both our sales and earnings will continue to show an improvement over the full year fiscal 2011 results.”

Benjamin Rashleger also commented on the retirement of Michael Pudil who had served as the Company’s chief executive officer for 18 years. Rashleger said: “WSI and all of its employees wish to thank Mike for his leadership for all of these years. It is with a sense of sadness that we see Mike retire, but we are pleased that he will remain on the Board of Directors and look forward to his continued guidance for years to come.”

The Company also announced today that its Board of Directors has declared a quarterly dividend of $.04 per share. The dividend will be payable February 1, 2012 to holders of record on January 18, 2012.

WSI Industries, Inc. is a leading contract manufacturer that specializes in the machining of complex, high-precision parts for a wide range of industries, including avionics and aerospace, energy, recreational vehicles, small engines, marine, bioscience and the defense markets.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,222.10 -165.11 -0.95%
S&P 500 2,015.28 -14.27 -0.70%
NASDAQ 4,666.7610 -14.7360 -0.31%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs