WSI Industries Inc. (WSCI, Financial) filed Quarterly Report for the period ended 2009-11-29.
Wsi Industries Inc. has a market cap of $5.7 million; its shares were traded at around $2 with and P/S ratio of 0.3. Wsi Industries Inc. had an annual average earning growth of 106.8% over the past 5 years.
Sales from the Companys energy market amounted to $1,283,000 in the first quarter as compared to $2,112,000 in the prior years first quarter. The decrease in sales is a result of decrease in volume of orders from these customers that the Company believes is due to a combination of factors including the recession, tight credit conditions, lower oil prices and a reduction in the demand of the type of oilfield equipment the Company produces.
Sales from the Companys aerospace and defense markets totaled $369,000 and $486,000 for the quarters ended November 29, 2009 and November 30, 2008, respectively. As stated in prior paragraphs, the Company believes the decreases are due to the recession.
Sales from the Companys biosciences market totaled $54,000 for the quarter ended November 29, 2009, as compared to the prior year quarters amount of $123,000 with the recession believed to be the reason for the decrease.
Interest expense in the first quarter of fiscal 2010 was $97,000 compared to $92,000 in first quarter of fiscal 2009. This decrease reflected investments in new equipment and a building addition completed late in the first quarter of fiscal 2009 that incurred little or no interest expense in the fiscal 2009 first quarter.
On November 29, 2009, working capital was $3,657,000 compared to $3,403,000 at August 30, 2009. The ratio of current assets to current liabilities at November 29, 2009 was 1.92 to 1.0 compared to 1.75 to 1.0 at August 30, 2009. The improvement in both measurements is attributable to the generation of cash from operations in the Companys fiscal 2010 first quarter.
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Wsi Industries Inc. has a market cap of $5.7 million; its shares were traded at around $2 with and P/S ratio of 0.3. 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 $2,548,000 and $3,290,000 for the quarters ended November 29, 2009 and November 30, 2008, respectively. Sales from the ATV market decreased by a larger percentage during the fiscal 2009 first quarter as the decrease in the motorcycle markets sales was mitigated by the Company becoming a sole source supplier on a particular component it manufactures. Both sectors were negatively impacted by the economic recession.Sales from the Companys energy market amounted to $1,283,000 in the first quarter as compared to $2,112,000 in the prior years first quarter. The decrease in sales is a result of decrease in volume of orders from these customers that the Company believes is due to a combination of factors including the recession, tight credit conditions, lower oil prices and a reduction in the demand of the type of oilfield equipment the Company produces.
Sales from the Companys aerospace and defense markets totaled $369,000 and $486,000 for the quarters ended November 29, 2009 and November 30, 2008, respectively. As stated in prior paragraphs, the Company believes the decreases are due to the recession.
Sales from the Companys biosciences market totaled $54,000 for the quarter ended November 29, 2009, as compared to the prior year quarters amount of $123,000 with the recession believed to be the reason for the decrease.
Interest expense in the first quarter of fiscal 2010 was $97,000 compared to $92,000 in first quarter of fiscal 2009. This decrease reflected investments in new equipment and a building addition completed late in the first quarter of fiscal 2009 that incurred little or no interest expense in the fiscal 2009 first quarter.
On November 29, 2009, working capital was $3,657,000 compared to $3,403,000 at August 30, 2009. The ratio of current assets to current liabilities at November 29, 2009 was 1.92 to 1.0 compared to 1.75 to 1.0 at August 30, 2009. The improvement in both measurements is attributable to the generation of cash from operations in the Companys fiscal 2010 first quarter.
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