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WSI Industries boosts sales in its fiscal third quarter, recovering from its previous earnings loss

The metals manufacturer swung to a profit in its fiscal third quarter
The Minneapolis-based company manufactures metal components for a variety of industries

WSI Industries Inc (NASDAQ:WSCI) announced positive fiscal third-quarter earnings due to a boost in sales.

The company reported earnings of US$0.16 per share on sales of US$9.79mln compared with an earnings loss of US$0.08 on revenue of US$9.59mln in the previous year’s third quarter.

The Minneapolis-based company manufactures metal components for a variety of industries, including the automotive, aerospace, energy and defense markets.

"We have accomplished much in the last year and with credit and thanks going to the entire WSI team for making this happen. Our main goals will continue to be the profitable growth of our customer base and improvement in our manufacturing operations,” said CEO Michael Pudil.

The board of directors also declared its quarterly dividend on US$0.04 per share payable on July 10 to holders of record on June 26.

Shares of WSI were down less than 1% to US$5.23 in Wednesday afternoon trading.

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