WSI Industries Reports Improved Third Quarter Results
WSI INDUSTRIES (WSCI)
US:NASDAQ Investor Relations:
wsiindustries.com/investor-relations
Company Research
Source: GlobeNewswire
Declares Quarterly Dividend MINNEAPOLIS, June 12, 2018 (GLOBE NEWSWIRE) -- WSI Industries, Inc. (Nasdaq:WSCI) today reported sales for its fiscal 2018 third quarter ending May 27, 2018 of $9,791,000 versus the prior year amount of $9,594,000, or an increase of 2%. Year-to-date sales for the period ended May 27, 2018 totaled $25,873,000 versus $22,237,000 in the prior year, or an increase of 16%. The Company also reported net income in its fiscal 2018 third quarter of $466,000 or $.16 per diluted share versus a net loss of $220,000 or $(.08) per diluted share in the fiscal 2017 third quarter. Year-to-date, the Company has net income of $1,081,000 or $.36 per diluted share versus a net loss of $904,000 or $(.31) per diluted share in the prior year. Included in the fiscal 2018 year-to-date earnings is an income tax benefit of approximately $600,000 related to the revaluation of the Company’s net deferred tax liability due to the passage of H.R.1, known as the “Tax Cuts and Jobs Act
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