WSI Industries reports USD6.3m in Q1 FY2017 sales

WSI Industries, Inc. (NASDAQ: WSCI) has reported sales first quarter sales of UD6.330 million for its fiscal year 2017 ending November 27, 2016 compared to USD9.731 million in the prior year, the company said.

The company reported a net loss of USD322,000 or USD0.11 per diluted share for the fiscal 2017 first quarter, compared with net income in the prior year quarter of USD132,000 or USD.05 per diluted share.

The company said the net loss was driven primarily from an under-utilization of its building and equipment.

WSI Industries, Inc. is a contract manufacturer that specializes in the machining of high-precision parts for a wide range of industries, including automotive, avionics and aerospace, energy, recreational power sports vehicles, small engines, marine, bioscience and the defense markets.