WSI Industries, Inc. (WSCI): Old Industry for New Profits?
Source: http://Blog.QualityStocks.net/?p=12011Posted on Thursday, August 28th, 2008 | In Small & Micro Cap
WSI Industries (WSCI) is a maker of precision components and primarily serves the metal machining contract business. The company biggest customers are primarily the aerospace, avionics, defense industries, recreational vehicles markets, and computer components and bioscience industries. The 50-year old company competes with companies such as Hayes Lemmerz International Inc., Delphi Inc. and privately held Newcor Inc.
Minnesota-based WSI Industries actually reported positive net income for the most recent fiscal year while competitors Delphia and Hayes Lemerz both reported sizable losses. In June, the company reported a 56% increase in net income for the third quarter compared to the year-ago period. Net income for the quarter was $357,000 or $0.13 per share, compared to $229,000, or $0.08 per share, in the prior-year period. Sales for the quarter surged 28 percent to $6.7 million from $5.2 million in the same period in 2007.
The company also declared a dividend of nearly four cents a share. Last year, WSI Industries entered a new business market that could prove to be beneficial for shareholders when the company began selling parts to oil and gas drilling and production firms. WSI also recently made Fortune’s list of Top 100 Fastest Growing Small Businesses. The company was ranked No. 43 on the list.
The $20 million company has seen its shares rise by 62 percent in the past 52 weeks and roughly 17 percent of WSI shares are held by institutions. The latest filings showed 475,000 WSI shares were held by institutions, almost double from the last report. Shares closed today at $7.13 and have traded as high as $17.64 in the past year.
Let us hear your thoughts below:
Last 5 posts by QualityStocks
- Omnicity Corp. (OMCY.OB) Announces Addition of New Board Member - November 20th, 2009
- Muscle Flex, Inc. (MFLI.PK) Announces Release Time for the BUDDY Tablet Caddy Two-Minute Commercial and Landing Page - November 20th, 2009
- Artfest International, Inc. (ARTS.OB) Announces Revenue Profit Jumps - November 20th, 2009
- Omnicity Corp.’s (OMCY.OB) Recently-Issued Corporate Update - November 20th, 2009
- Soligenix Inc. (SNGX.OB) Taking Steps to Meet Challenges of Vaccine Technology and Biological Warfare - November 20th, 2009
aerospace, cents, Delphi Inc., Hayes Lemmerz International Inc., metal machining contract, Minnesota, Newcor Inc, Oil And Gas, Small & Micro Cap, USD, WSI Industries Inc.
 About QualityStocks (http://QualityStocks.net)
Our name, QualityStocks, emphasizes our commitment to connect subscribers with companies that have huge potential to succeed in the short and long-term future. We believe strong management and vision for the future are crucial for any company to be successful. Timing is everything and we help investors succeed by providing an objective, broad-based view of the SmallCap markets on a daily basis. Please see disclaimer on QualityStocks website: http://disclaimer.qualitystocks.net |
No recommendations, either expressed or implied, are being made to buy, sell, hold or short any of the mentioned stocks. No legal, tax or accounting advice is expressed or implied. Always contact your attorney, CPA, or tax advisor before acting on any legal or tax issues. StraightStocks.com is not responsible for the content, products, or services of any of the advertisers on this site. StraightStocks.com receives compensation from advertisers on this blog. Services and products referred to herein are trademarks, registered trademarks, servicemarks, and/or registered servicemarks of their respective trademark or servicemark owners.