WSI Industries Reports Preliminary Fourth Quarter and Fiscal Year 2018 Results; Declares Quarterly Dividend and Provides Update On Special Meeting
WSI INDUSTRIES (WSCI)
US:NASDAQ Investor Relations:
wsiindustries.com/investor-relations
Company Research
Source: GlobeNewswire
MINNEAPOLIS, Oct. 04, 2018 (GLOBE NEWSWIRE) -- WSI Industries, Inc. (Nasdaq: WSCI) announced today its preliminary financial results for the fourth quarter and fiscal year 2018 ended August 26, 2018, which remain subject to customary annual audit procedures. Fiscal year 2018 annual sales were $34,604,000 versus the prior year’s sales of $30,641,000. The Company reported fiscal year 2018 net income of $847,000, or $0.28 per diluted share, versus a net loss of $(814,000), or $(0.28) per diluted share, in the prior fiscal year. The Company also reported fiscal 2018 fourth quarter sales of $8,731,000, versus the prior year’s fiscal fourth quarter sales of $8,404,000 and reported a net loss of $(234,000), or $(0.08) per diluted share, as compared to a net income of $90,000 or $0.03 per diluted share in the prior year’s fiscal fourth quarter. Included in the fiscal 2018 fourth quarter net loss was approximately $401,000 of expense for professional services related to the proposed merger
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