WSI Industries, Inc. (NASDAQ:WSCI) has released the financial results for the period ended February 28, 2010. The company’s reported sales for the quarter was $4,060,000 compared to sales of $4,001,000 for the previous year. The six months period ended February 28, 2010 was $8,314,000 compared to $10,037,000 reported for the previous year.
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WSI’s net income for the quarter was $28,000, or $0.1 per diluted share. The company reported a net loss of $307,00 or $0.11 per diluted share for the year ago period. The net income for the year to date period ended February 28, 2010 was $132,000 or $0.05 per diluted share. The previous year to date period had a net loss of $206,000, or $0.07 per diluted share.
WSI Industries, Inc. is involved in the precision contract metal machining business serving the recreational vehicle, energy, aerospace/avionics and bioscience industries. The Company manufactures metal components in medium to high volumes requiring tolerances as close as one ten-thousandth (.0001) of an inch. These components are manufactured in accordance with customer specifications using materials both purchased by the Company, as well as being supplied by its customer. Contract manufacturing constitutes the Company’s entire business. The major portions of Company’s revenues are derived from machining work for the aerospace/avionics/defense industries, recreational vehicles, including all terrain vehicle (ATV) and motorcycle markets, energy industry and bioscience industry.
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