The Company also announced today that its Board of Directors has declared a quarterly dividend of $.04 per share. The dividend will be payable April 16, 2013 to holders of record on April 2, 2013.
WSI Industries, Inc. is a leading contract manufacturer that specializes in the machining of complex, high-precision parts for a wide range of industries, including avionics and aerospace, energy, recreational vehicles, small engines, marine, bioscience and the defense markets.
The statements included herein which are not historical or current facts are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. There are certain important factors which could cause actual results to differ materially from those anticipated by some of the statements made herein, including the Company’s ability to retain current programs and obtain additional manufacturing programs, and other factors detailed in the Company’s filings with the Securities and Exchange Commission.
WSI INDUSTRIES, INC.
|CONSOLIDATED STATEMENT OF OPERATIONS||(Unaudited)|
|In thousands, except per share amounts|
|Second quarter ended||First six months ended|
|February 24,||February 26,||February 24,||February 26,|
|Cost of products sold||6,406||5,974||13,508||11,033|
|Selling and administrative expense||605||711||1,332||1,401|
|Interest and other income||(1||)||(11||)||(2||)||(13||)|
|Interest and other expense||81||80||163||156|
Profit (loss) from operations before income taxes
|Net earnings (loss)||$||56||$||171||$||487||$||276|
|Basic earnings (loss) per share||$||0.02||$||0.06||$||0.17||$||0.10|
|Diluted earnings (loss) per share||$||0.02||$||0.06||$||0.17||$||0.10|
Weighted average number of common shares
Weighted average number of dilutive common shares outstanding
|CONDENSED BALANCE SHEETS (Unaudited)|
|February 24,||February 26,|
|Total Current Assets||$||10,629||$||8,847|
|Property, Plant, and Equipment, net||11,899||8,453|
|Liabilities and Shareholders' Equity:|
|Total current liabilities||$||6,522||$||3,808|
|Deferred tax liabilities||1,187||357|
Total Liabilities and Shareholders' Equity