WSI Industries Soars on Dividend Reinstatement (WSCI)

Shares of WSI Industries, Inc. WSCI are skyrocketing today after the company reported strong fourth quarter earnings, followed by the reinstatement of its dividend. Currently, shares are higher by 42.33%, trading at $6.12. Its board of directors declared a quarterly dividend of $.04 per share. Michael J. Pudil, chief executive officer, commented: "We are pleased to report a dramatic increase in sales and earnings in our fiscal 2010 fourth quarter as compared to the same period last year. WSI experienced a surge in activity in our fourth quarter, and due to the steps we have taken to streamline our costs and improve efficiencies, we were able to capitalize on the increase in activity. Looking forward, we anticipate that overall fiscal 2011 will also show improvement from fiscal 2010." WSI Industries, Inc. is involved in the precision contract metal machining business serving the recreational vehicle, energy, aerospace/avionics and bioscience industries. The company manufactures metal components in medium to high volumes requiring tolerances as close as one ten-thousandth of an inch.