WMS Industries Are Up 13% After Positive Earnings

Shares of WMS Industries

are up 13% after the company reported positive earnings. The company reported revenue of $162.2 million and net income of $16.1 million, or $0.29 per diluted share, for its fiscal 2012 second quarter ended December 31, 2011. The results include a benefit of $2.1 million pre-tax, or $0.02 per diluted share, from settlement of litigation. These results showed sequential growth over the September 2011 quarter in which the Company reported revenues of $155.6 million and diluted earnings per share of $0.07, inclusive of $0.17 of charges. In the December 2010 quarter, revenue was $199.9 million and net income was $27.0 million, or $0.46 per diluted share, including a $0.02 per diluted share benefit due to the retroactive reinstatement of the U.S. Federal Research and Development tax credit.