WSI Industries Inc. conducts operations in contract manufacturing for the ultra-precision and production machining industry. WSI Industries Inc. has a market cap of $8.78 million; its shares were traded at around $2.47 with a P/E ratio of 4.7 and P/S ratio of 0.34. The dividend yield of WSI Industries Inc. stocks is 4.89%. WSI Industries Inc. had an annual average earning growth of 106.8% over the past 5 years.
Highlight of Business Operations:Sales from the Companys ATV and motorcycle markets were $3,290,000 and $3,757,000 for the quarters ended November 30, 2008 and November 25, 2007, respectively. Sales from the ATV market increased by 10% during the fiscal 2009 first quarter; however that sales increase was more than offset by a decrease in sales in the motorcycle market that occurred as a result of a softening of demand.
Sales from the Companys energy market amounted to $2,112,000 in the first quarter as compared to $1,423,000 in the prior years first quarter. The Company experienced a softening in demand from most of its energy programs in fiscal 2009 first quarter as compared to the fiscal 2008 fourth quarter.
Sales from the Companys aerospace and defense markets totaled $486,000 and $531,000 for the quarters ended November 30, 2008 and November 25, 2007, respectively. The Company believes that these decreases are not a result of significant change in a customer or product requirement, but rather a result of a general decrease in the level of business with the Companys customers in these markets.
Sales from the Companys biosciences market totaled $123,000 for the quarter ended November 30, 2008, as compared to the prior year quarters amount of $146,000. The Company believes that these decreases are not a result of significant change in a customer or product requirement, but rather a result of a general decrease in the level of business with the Companys customers in these markets.
Interest expense in the first quarter of fiscal 2009 was $92,000 compared to $67,000 in first quarter of fiscal 2008 reflecting the investment in new equipment that the Company has made as well as interest related to the Companys building addition completed during the first quarter of fiscal 2009.
On November 30, 2008, working capital was $4,604,000 compared to $4,188,000 at August 31, 2008. The ratio of current assets to current liabilities at November 30, 2008 was 2.15 to 1.0 compared to 1.97 to 1.0 at August 31, 2008. The improvement in both measurements is attributable to the generation of cash from operations in the Companys fiscal 2009 first quarter.
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