News - WSI Highlights

The statements included herein which are not historical or current facts are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. There are certain important factors which could cause actual results to differ materially from those anticipated by some of the statements made herein, including the Company’s ability to retain current programs and obtain additional manufacturing programs, and other factors detailed in the Company’s filings with the Securities and Exchange Commission.

May 2008
WSI Industries Reports 45% Increase in Second Quarter Sales
WSI reported net sales of $6,422,000 for the second quarter of fiscal 2008 ended February 24, 2008, an increase of 45% as compared to the year-earlier quarter of $4,440,000. The Company posted net income of $433,000 or $.15 per share for the current quarter, compared to $155,000 or $.06 per share in the second quarter of fiscal 2007. Year-to-date sales in fiscal 2008 were also up 45% vs. the prior year as sales increased to $12,396,000 from $8,570,000 a year ago. Year-to-date earnings per share rose to $.29 vs. $.11 in the prior year.

Michael J. Pudil, president and chief executive officer, commented: "A year ago we were pleased to report sales growth of 24% in the quarter. With our top line growth in fiscal 2008, our quarterly sales are now 80% higher from where we were just two years ago. Our bottom line has also shown dramatic improvement as our quarterly earnings per share have risen from $.03 two years ago to $.15 in our current fiscal 2008 second quarter."

Pudil concluded: "As we reported a few weeks ago, we have several new opportunities that have been awarded to us. With these new customers and programs, we have made substantial progress in the growth and diversification of our business. This was our number one challenge and we are pleased to report the progress we have made in this regard. Thanks go to the capable and committed people at WSI and we look forward to the challenge of implementing and delivering the new business."

In keeping with its announced policy to reward its shareholders, the Company also announced today that its Board of Directors has declared a dividend of $.0375 per share. The dividend will be payable April 30, 2008 to holders of record on April 16, 2008.

March 2008
WSI Provides Business Update, Announces New Energy Business Customer
Michael J. Pudil, president and chief executive officer, said: "We have several exciting new opportunities that have been presented to us and are pleased to announce that we have secured a new customer as well as two new programs from an existing customer in our energy business."

WSI reported that their energy business, which consists of customers that provide oil and gas drilling and production components, has experienced further growth. The Company has secured a new customer and expects that this first program will generate approximately $2.0 million in sales in fiscal 2009. Initial shipments will begin in the fiscal fourth quarter of this year. The Company also announced two additional programs with an existing customer. In addition to machining, one of the programs will include value added assembly. In total, this commitment could represent $17 million in business annually from this customer. Pudil said: "We are excited about the opportunities that lie ahead of us with our energy business. We will continue to invest in our capital and human resources in order to successfully deliver this new business."

In the motorcycle market, the Company announced that it has a new three year commitment from an existing customer to continue to supply engine components. However, as previously disclosed, there will be a reduction in volume of approximately $1.5 million annually. The reduction in volume will start in the fiscal 2008 fourth quarter. Also, in the motorcycle market, the Company said that the new customer previously discussed in a June 2007 press release is expected to begin ramping up production in the fiscal 2008 fourth quarter with expected sales in fiscal 2009 of $1 million. Finally, in the ATV engine component business, the Company expects business to remain strong at this time. Pudil commented: "Overall, we are very pleased with the progress we have made in our revenue growth and in particular the diversification of our business. All of our major segments of business which include recreation, energy, and aerospace continue to look positive."

The Company also announced that it will release its fiscal 2008 second quarter earnings on April 3, 2008 after market close. It said that it expects second quarter sales will amount to approximately $6.4 million which would represent a 45% increase over the prior year quarter.

February 2008
WSI Industries Adds Equipment to Increase Capacity and Capability
WSI Industries has added four new major CNC Machining Centers over the last year, with a 5th new CNC due in early April that will increase our overall part envelope size by 50% and increase our part weight to 6,600 lbs. This machine investment of over $2.5 million in state-of-the-art technology demonstrates our commitment to using the most advanced equipment to offer our services at a competitive advantage. A complete machine list is available under the “Equipment” tab in our website.

Okuma MA 600 – Work envelope 39.37” x 35.43” x 39.37” (xyz), 50 HP spindle, full 4th, 1000 psi thru coolant and probing capability, w/100 tool capacity
Okuma MA 600 – Work envelope 39.37” x 35.43” x 39.37” (xyz), 50 HP spindle, full 4th, 1000 psi thru coolant and probing capability w/60 tool capacity.
Makino A81 600 – 39.4” x 39.4” x 51.2” Work envelope 35.43” x 31.49” x 40.16” (xyz), 47 HP hi torque spindle, extended tool length/diameter, full 4th, 1000 psi thru coolant and probing capability w/97 tool capacity
Makino A61 500 – 31.5” x 31.5” x 39.4” Work envelope 28.74” x 25.59” x 28.74” (xyz) 14000 rpm Cat 40 spindle, full 4th, 1000 psi thru coolant and probing capability w/60 tool capacity
Makino A92M 800 – 59” x 59” x 59” Work envelope 59.8” x 49.2” x 53.15” (xyz) 50 HP hi torque spindle, extended tool length/diameter, full 4th, 1000 psi thru coolant and special 2 probe system w/92 tool capacity – arriving early April 2008

WSI Industries Receives Polaris Three STAR Award
At the annual Polaris Key Supplier conference WSI was recognized with a Three STAR award for cost reductions in 2007. This is the highest award given by Polaris in this category and the fifth time WSI has been recognized for their achievements.

January 2008
WSI Industries Reports 45% Increase in First Quarter Sales
WSI reported sales for its fiscal 2008 first quarter ending November 25, 2007 of $5,975,000, an increase of 45% over the prior year amount of $4,129,000. Net income for the fiscal 2008 first quarter was $387,000 or $.14, an increase of $250,000 over the prior year net income of $137,000 or $.05 per share. Included in the fiscal 2008 first quarter income was a gain on sale of equipment which contributed $98,000 to pre-tax income.

Michael J. Pudil, president and chief executive officer, commented: “We took another significant step forward as shown by our results from our fiscal 2008 first quarter. Our sales were up 45% from the prior year quarter. We also experienced double digit sales percentage increases in both our recreational vehicle market and energy businesses versus the fiscal 2007 fourth quarter. Our net income excluding the gain on sale of equipment more than doubled over the prior year. ” Pudil went on to say: “Our energy business maintained its growth as sales exceeded $1.4 million for the fiscal 2008 first quarter. As previously reported, we continue to believe that we will have sales in fiscal 2008 of $10-$11 million in this business alone. In addition, we are very pleased with our results as we feel our investment in new equipment and technology over the past year as well as the addition of key employees has paid off. We are positive about the future and believe that we will show continued improvement going forward.”

The Company also announced today that its Board of Directors has declared a dividend of $.0375 per share. The dividend will be payable February 6, 2008 to holders of record on January 23, 2008.

October 2007
WSI Industries Reports 30% Increase in Full Year Earnings
WSI Industries reported full year sales for fiscal 2007 ending August 26, 2007 of $18,808,000, an increase of 17% over the prior year amount of $16,092,000. Net income for fiscal year 2007 was $747,000 or $.27, an increase of 30% over the prior year of $573,000 or $.21.

For the fourth quarter ended August 26, 2007, the Company reported an increase in sales of 21% over the prior year quarter with sales of $5,001,000 compared to $4,132,000 in the prior year quarter. The Company reported net income in the current quarter of $226,000 or $.08 versus $153,000 or $.06 in the prior year quarter.

Michael J. Pudil, president and chief executive officer, commented: “Fiscal 2007 closed on several positive notes. First, our fiscal third and fourth quarters both finished with sales in excess of $5 million each, which equates to an approximately $20 million annualized rate. In addition to that, our new business in the energy field continued its dynamic growth with $1.0 million in sales in our fiscal fourth quarter. With the growth, we were able to increase our bottom line by 48% in the quarter.” Pudil went on to say: “As disclosed on October 17, 2007, we expect our energy business to continue its rapid growth with estimated sales of $10 million to $11 million in fiscal 2008. With the addition of this business, we have made substantial progress with our stated goal of diversifying our business base. Overall, we are confident with all parts of our business and we are anticipating that fiscal 2008 will be a year of solid sales and earnings growth.”

The Company also announced today that its Board of Directors has declared a dividend of $.0375 per share. The dividend will be payable November 20, 2007 to holders of record on November 6, 2007.

WSI Industries Updates Energy Business Outlook & Announces Earnings Date
October 17th, 2007: WSI today updated their fiscal 2008 outlook on their energy business. Michael J. Pudil, president and chief executive officer, said: “We are pleased to report further progress in our developing energy business. Previously we had announced that we expected WSI’s fiscal 2008 sales from it energy business to be about $6 million to $8 million. We now expect that business to be approximately $10 million to $11 million for our year ending in August 2008.”

Pudil went on to say: “When we entered the energy field in the spring of 2007, we were awarded orders on three separate programs. Later in the summer of 2007, a fourth program was secured and added to our business. Today, we are pleased to announce that we have been successful in winning two additional programs. Overall, we have backlog for our energy business out through calendar year 2009.” Pudil concluded: “We believe that WSI’s ability to take on programs of this magnitude is a positive comment on our financial resources and the technical expertise and commitment of our employees.”

The Company also announced that it will release its full year fiscal 2007 earnings on Tuesday, October 23, 2007 after market close.

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August 2007
ISO 9001:2000 Yearly Surveillance

On August 1st, WSI successfully completed our annual ISO 9001:2000 surveillance audit. The audit was conducted by SGS www.sgs.com

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June 2007
WSI Industries Reports 24% Sales Increase, 33% Net Earnings Increase

WSI today reported net sales of $5,238,000 for the third quarter of fiscal 2007 ended May 27, 2007, a 24% increase over the year-earlier quarter of $4,215,000. The Company posted net income of $229,000 or $.08 per share, compared to $172,000 or $.06 per share in the third quarter of fiscal 2006. Year-to-date sales for the nine months ended May 27, 2007 totaled $13,807,000 or a 15% increase over the same period from the prior year. Net income for the same year-to-date period increased to $521,000 or $.19 per share compared to $420,000 or $.15 per share.

Michael J. Pudil, president and chief executive officer, commented: “We are pleased to report on an exceptional fiscal 2007 third quarter. Sales increased by 24% over the prior year while net earnings increased 33%. As previously announced, we secured a new customer in the energy field, and that account provided WSI with $410,000 in sales in the fiscal 2007 third quarter. We also experienced sales increases in our recreational vehicle market.” Pudil went on to say: “We continue to reap the benefits of our diversification efforts as this quarter we are announcing two new customers, one in the recreational vehicle market and the other in the aerospace market. We are capitalizing on opportunities in markets that we already serve, but as shown with our new partner in the energy field, we are able to find new prospects outside our traditional industries.” Pudil concluded: “We expect our fiscal 2007 fourth quarter to show sales growth as compared to the year earlier quarter, even though a previously announced planned reduction with one of our current customers will start to take effect. Going forward, we are optimistic in regards to both top line growth and customer diversification as indications are that our energy business will approach $6 million to $8 million in sales annually in fiscal 2008.”

In keeping with its announced policy to reward its shareholders, the Company also announced today that its Board of Directors has declared a dividend of $.0375 per share. The dividend will be payable July 17, 2007 to holders of record on July 3, 2007.June 2007

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March 2007
WSI Industries Announces New Business, Sales up 24%, Net Earnings Double
WSI today reported net sales of $4,440,000 for the second quarter of fiscal 2007 ended February 25, 2007, an increase of 24% as compared to the year-earlier quarter of $3,574,000. The Company posted net income of $155,000 or $.06 per share for the current quarter, compared to $69,000 or $.03 per share in the second quarter of fiscal 2006.

Michael J. Pudil, president and chief executive officer, commented: “Our fiscal 2007 second quarter had solid revenue growth as we experienced increased sales from virtually all markets that we serve. We are pleased to report that our second quarter had the highest level of quarterly sales in over 5 years.” Pudil continued: “We are most pleased to report success with our business diversification efforts by securing business with three new customers. One will be a significant new program in the energy industry, another is in the recreational vehicle market that we now serve, and a third is in the aerospace industry. For the second half of Fiscal 07, we are expecting continued top line growth as a result of these new customers even though there is a planned reduction in business from an existing customer.” Pudil concluded, “We are continuing to invest in our business and are pleased with the results to date especially in regards to our customer diversification. Everyone at WSI is proud of these accomplishments.”

WSI Industries Adds Four New CNC Machining Centers

Haas VF-5TR SS - Full 5-axis simultaneous motion machining capability, high speed spindle, work envelope 38” x 26” x 25” (xyz)
Okuma MA 600 – Work envelope 39.37” x 35.43” x 39.37” (xyz), 50 HP spindle and probing capability
Haas VF- 2 SS - Work envelope 30” x 16” x 20” (xyz) with high speed spindle and probing capability
Haas VF- 6 SS - Work envelope 64”x 32”x 30” (xyz), high speed spindle and probing capability

WSI Industries Receive Polaris Three STAR Award
At the annual Polaris Key Supplier conference WSI was recognized with a Three STAR award for cost reductions in 2006. This is the highest award given by Polaris in this category and the fourth time WSI has been recognized for their achievements.

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February 2007
WSI Industries Reports Customer Excellence Award

WSI is pleased to announce that it has been awarded recognition as a General Dynamics Advanced Technical Products (GDATP) Supplier Excellence Program manufacturer. WSI completed an extensive qualification process in order to align objectives and integrate resources to provide GDATP and their customer’s the best value in products and services, consistently meeting or exceeding expectations.

January 2007
WSI Industries Reports 1st Quarter Results
WSI reported net sales of $4,129,000 for the first quarter of fiscal 2007 ended November 26, 2006 compared to $4,170,000 in the first quarter of fiscal 2006. The Company posted net income of $137,000 or $.05 per share, compared to $178,000 or $.07 per share in the prior year quarter. Included in expense during the fiscal 2007 first quarter was $16,000 of pretax stock option compensation expense as the Company adopted the provisions of SFAS No. 123(R) at the beginning of the quarter.

Michael J. Pudil, president and chief executive officer, commented: “We are pleased to report a 29% growth in non-recreational vehicle sales over the year ago quarter from our continued efforts to diversify our customer base. In addition, we were able to maintain gross margin at a level consistent with the prior year at 17%.” Pudil went on to say: “In spite of the fact that WSI’s fiscal 2007 first quarter sales were negatively impacted by supplier issues, we are optimistic about the rest of fiscal 2007. We continue to make inroads in diversifying our customer base and expect to achieve further success as the year progresses.”

The Company also announced today that its Board of Directors has declared a dividend of $.0375 per share. The dividend will be payable January 31, 2007 to holders of record on January 18, 2007.

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November 2006
WSI Industries Reports Full Year Earnings and Declares Dividend
WSI reported full year sales for fiscal 2006 ending August 27, 2006 of $16,092,000, an increase of 2.8% over the prior year amount of $15,654,000. Income for fiscal year 2006 was $573,000 or $.21, an increase of 71% over the prior year of $335,000.

For the fourth quarter ended August 27, 2006, net sales totaled $4,132,000 compared to $3,882,000 in the prior year quarter. The Company reported net income in the current quarter of $153,000 or $.06 versus $107,000 or $.04 in the prior year quarter.

Michael J. Pudil, president and chief executive officer, commented: “With the completion of fiscal 2006, WSI has experienced its third consecutive year of increased sales as well as four years of profitability. Our focus of the last three years to improve our sales, manufacturing capabilities and enhance efficiencies has been borne out by these results.” Pudil went on to say: “Another key objective was to diversify our customer base. We are pleased to report that we also experienced success in this area as sales to markets other than our recreational vehicle market increased 22% over the prior year. We will continue our efforts in this area and hope to capitalize on our positive results to date.”

The Company also announced today that its Board of Directors has declared a dividend of $.0375 per share. The dividend will be payable November 22, 2006 to holders of record on November 8, 2006.

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October 2006
WSI Announces Annual Customer Satisfaction Survey Results
WSI has completed our annual Customer Satisfaction Survey. This survey is important to our mission of continual improvement and improving our overall service to our customers. Responses were very favorable, and included the following results:

90% Responded with Satisfied to Very Satisfied with WSI Services
92% Satisfied to Very Satisfied with Doing Business with WSI
92% Satisfied to More Satisfied with WSI Compared to Other Machining Suppliers
89% agree that they have a Positive Perception of WSI
77% of our customers rate WSI at 7 or above on a 10 point scale as being “Best in Industry”

September 2006
ISO 9001:2000 Yearly Surveillance
On August 31st, WSI successfully completed our annual ISO 9001:2000 surveillance audit. The audit was conducted by SGS www.sgs.com

June 2006
WSI Industries Reports Results
WSI reported net sales of $4,215,000 for the third quarter of fiscal 2006 ended May 28, 2006 compared to the year-earlier quarter of $4,244,000. The Company posted net income of $172,000 or $.06 per share, compared to $174,000 or $.07 per share in the third quarter of fiscal 2005. Year-to-date sales for the nine months ended May 28, 2006 totaled $11,959,000 or a 1.6% increase over the same period from the prior year. Net income for the same year-to-date period increased to $420,000 or $.15 per share compared to $228,000 or $.09 per share.

Michael J. Pudil, president and chief executive officer, commented: “As previously projected, our fiscal 2006 third quarter sales rebounded nicely with an 18% increase over our second quarter. Sales for the fiscal 2006 third quarter were aided by an increase in revenues from our non-recreational vehicle markets, which showed a 44% increase over the prior year third quarter. Our profitability also improved and returned to levels similar to prior quarters.” Pudil went on to say: “Along with a strong base of business in the recreational market, our efforts of diversifying our customer base are showing positive signs. This is evidenced by our year over year quarterly increase in revenue in our non-recreational vehicle markets, and also by our quoting opportunities for new business, which have increased substantially.” Pudil concluded by saying: “We expect our fiscal 2006 fourth quarter to result in an increase in sales over the prior year quarter of approximately 5 – 10% and our long-term outlook remains positive.”

In keeping with its announced policy to reward its shareholders, the Company also announced today that its Board of Directors has declared a dividend of $.0375 per share. The dividend will be payable July 19, 2006 to holders of record on July 5, 2006.

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April 2006
WSI Industries Welcomes Tom Seibert
WSI announces the addition of Tom Seibert as Vice President. Mr. Seibert’s primary focus will be in the area of securing new business. Michael J. Pudil, president and chief executive officer, commented: “We are very pleased with the addition of Tom Seibert.Tom has more than 25 years experience in our industry and will work with others in the WSI organization in identifying new customers, managing the sales process and securing new business. The growth of our customer base continues to be one of our key objectives.”

March 2006
WSI Industries Reports Results
WSI reported net sales of $3,574,000 for the second quarter of fiscal 2006 ended February 26, 2006 compared to the year-earlier quarter of $3,654,000. The Company posted net income of $69,000 or $.03 per share, compared to $28,000 or $.01 per share in the second quarter of fiscal 2005. Michael J. Pudil, president and chief executive officer, commented: "We are pleased to have experienced our sixth consecutive quarter of profitability as well as a twelfth consecutive quarter of paying a dividend. As previously announced our fiscal 2006 second quarter sales were down due to reduced customer scheduling in the recreational vehicle portion of our business. Other areas of our business showed increased activity. Our aerospace sales increased by over 50% to $564,000 during this quarter versus the prior year of $372,000 and our quoting activity increased in the majority of markets we serve. We have continued to invest in our business by adding sales personnel in order to meet our objective of diversifying our customer base. We are also adding machining capabilities as well as establishing global supply sources to further our competitiveness in securing new business. Overall, we have a positive outlook on realizing success in this area." Pudil went on to say: "We expect our overall sales to rebound by approximately 15% in the 3rd and 4th quarters as compared to the 2nd quarter and for profitability to also improve in the last half of fiscal 2006."

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January 2006
WSI Industries Reports Improved Results
WSI reported net sales of $4,170,000 for the first quarter of fiscal 2006 ended November 27, 2005, an increase of 8% from the year-earlier quarter of $3,874,000. The Company posted net income of $178,000 or $.07 per share, compared to $26,000 or $.01 per share in the first quarter of fiscal 2005.

Michael J. Pudil, president and chief executive officer, commented: “WSI’s fiscal 2006 first quarter was a solid combination of revenue growth and increased bottom line results. The 8% growth comes on top of the 38% growth that we realized in the prior year first quarter. In the upcoming fiscal 2006 second quarter, our sales will be similar to the fiscal 2005 second quarter. The lower level of sales is normal due to the holiday periods, but the quarter will also be affected by reduced volume in our recreational vehicle market. We expect demand to improve during the second half of fiscal 2006.” Pudil went on to say: “Significant progress has been made with global sourcing initiatives which will further our competitiveness in securing new business. As previously stated, our number one objective is to further diversify our customer base.”

The Company also announced today that its Board of Directors has declared a dividend of $.0375 per share. The dividend will be payable January 31, 2006 to holders of record on January 18, 2006.

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January 2006
WSI Industries Annual Shareholder Letter
Click here for letter

SEPTEMBER 2005
WSI invests in New Machines
WSI has purchased two new vertical machining centers with the latest in state-of-the-art technology. They include high speed spindles, high speed tool changers, and user friendly advanced controls. The machines will be used for a variety of customer components reducing cycle times and improving quality. These machines will replace two older machines.

AUGUST 2005
ISO 9001:2000 Certification Received
On August 29th, WSI was informed by SGS that it has been assessed and certified as meeting the requirements of ISO 9001:2000. The certificate is valid from August 12, 2005 until August 11, 2008.

AUGUST 2005
ISO 9001:2000 Certification Recommended
WSI Industries announced today that it has been recommended for ISO 9001:2000 certification. WSI’s quality system was assessed by SGS, a global leader in the ISO certification industry. Michael J. Pudil, president and chief executive officer, commented: "This is a tremendous achievement for our employees. Our people have worked very hard in the past year not only to move our operations into our new facility in Monticello, Minnesota, but also to get the quality systems in place in order to earn the recommendation for ISO 9001:2000 certification.” Pudil went on to say: “ISO 9001:2000 certification is critical in serving our customers, but we also feel that it will provide WSI a competitive advantage in attracting future new business. WSI has been investing in its manufacturing operations in Monticello with new machining equipment and state-of-the art coordinate measuring machines. It is rewarding that these investments have paid off with the recommended certification.”

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July 2005
WSI Upgrades Inspection Capability
WSI recently purchased two new coordinate measuring machines for improved quality control. Specialized CMM’s were selected to allow inspection directly on the shop floor. The improved process control will reduce the probability of producing out-of-tolerance parts, meaning less scrap and rework. This is another commitment of continual improvement which is necessary to meet increasing customer demands and global competition. June 2005 (Click to view machine)

June 2005
WSI INDUSTRIES SALES and NET INCOME UP
WSI reported net sales of $4,244,000 for the third quarter up 35% from $3,147,000 in the year-earlier quarter. The Company posted net income of $174,000, up 185% compared to third quarter of fiscal 2004.

Michael J. Pudil, president and chief executive officer, commented: "With the third quarter of fiscal 2005, we were able to reap some of the benefits of all the hard work that the WSI employees performed while relocating our facility. We feel that the results begin to show the potential of what we can do with a newer building and more efficient operations. We expect continued positive earnings and cash flow in our fiscal 2005 fourth-quarter; however we also anticipate somewhat lower sales than in the third quarter which has been our normal trend in prior years.

June 2005
The Company announced that its Board of Directors has declared a dividend of $.0375 per share. The dividend will be payable July 22, 2005 to holders of record on July 8, 2005.

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June 2005
WSI Industries Announces Partnering Arrangement
WSI announced that it has reached a partnering arrangement with an industry leader in the biosciences field. WSI estimates that the arrangement could increase sales by approximately 10% as the arrangement evolves over the next 12 - 18 months.

Michael J. Pudil, president and chief executive officer, commented: "We are excited to announce this undertaking with one of our existing customers. With the acquisition of our Monticello, Minnesota facility a year ago, we had placed additional emphasis on diversifying and expanding our business. We feel this new arrangement is a positive step in accomplishing this goal. One of WSI's core competencies is not only the machining of parts, but the ability to provide a wide array of services from prototyping to project management to just-in-time inventory. We believe the upcoming venture capitalizes on these capabilities."

March 2005:
WSI Completes Relocation to New Facility
WSI announced that it has completed the relocation to its Monticello, MN facility. The completion marks the conclusion of a facility upgrade project that commenced with the purchase of the 49,000 square foot building in May 2004 for $1.9 million. WSI’s previous leased location was in Osseo, MN and consisted of 28,000 square feet. The lease on the Osseo building expired in February.

Michael J. Pudil, president and chief executive officer, commented: "The Monticello location gives WSI the necessary space that is needed for current and future business requirements. The new facility will provide for more efficient operations that will allow WSI to be more competitive, which will benefit our customers." Pudil went on to say: "Taking on a project of this magnitude would place substantial strain on any organization. We are pleased that the relocation did not disrupt our quality and delivery with our customers." Pudil concluded by saying: "We are also happy to report that all of WSI’s employees have made the move to the new location in spite of a longer commute for some. This loyalty from our employees speaks volume about the commitment of our workforce."

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January 2005:
WSI Reports 38% Sales Increase
WSI reported net sales of $3,874,000 for the first quarter of fiscal 2005 ended November 28, 2004, an increase of 38% from the year-earlier quarter of $2,806,000. The Company posted net income of $26,000 or $.01 per share, compared to $56,000 or $.02 per share in the first quarter of fiscal 2004. Included in results for the first quarter of fiscal 2005 were $168,000 of costs associated with the relocation of the Company's operations to its Monticello, Minnesota facility as well as the continued cost of operating the Company's Osseo, Minnesota facility.

Michael J. Pudil, president and chief executive officer, commented: "We are pleased with our top-line sales growth in the first quarter. Revenues increased due to our previously announced new program in the recreational vehicle market, with the Company experiencing its first full quarter of sales from that project." Pudil went on to say: "With the completion of the relocation project in February, we expect to show improved results as the Company benefits from the efficiencies of being in the Monticello facility."

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July, 2004:
Polaris Recognizes WSI Industries
WSI was recognized at Polaris 50th Anniversary Celebration as a contributor to their past, present , and future success of Polaris Industries.

June, 2004:
WSI Purchases New Machines to Increase Capacity
WSI recently purchased 2 new state of the art machining centers. The large 500 size horizontal machining centers will be used on the recreational vehicle market program that was previously announced.

June, 2004:
WSI Reports Profitable Third Quarter and Announces New Business
WSI reported net sales of $3,147,000 for the third quarter of fiscal 2004 ended May 30, 2004, up from $3,051,000 in the year-earlier quarter. The Company posted net income of $61,000 or $.02 per share, compared to $146,000 or $$.06 per share in the third quarter of fiscal 2003.
Michael J. Pudil, president and chief executive officer, commented: "As we previously announced, we are excited with the purchase of our new facility located in Monticello, Minnesota. The new facility will provide for improved operations and for future growth." Pudil went on to say: "We are pleased to have recently secured an additional major component in the Company’s recreational vehicle market. This new program is expected to represent over 20% increase in annual sales.

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May, 2004:
WSI Announces Plant Acquisition
WSI announced today that it closed on the purchase of an existing 49,000 square foot facility located in Monticello, MN. The purchase price was $1.9 million and was paid for by a combination of cash and debt. WSI currently operates out of a leased 28,000 square foot facility located in Osseo, MN. Plans call for relocation to the Monticello facility over the next 6 months.
Michael J. Pudil, president and chief executive officer, commented: "We are pleased with the acquisition of the facility and the assistance and cooperation provided by the City of Monticello. A driving factor in our decision to relocate was the growing level of business from the Company’s recreational vehicle market that includes ATV’s and motorcycles. In addition, we are continuing to see improvement in our other key markets of avionics and defense." Pudil went on to say: "The building is a modern facility that was designed and built specifically for contract machining. The increase in size will accommodate our current customer requirements and meet our projected growth opportunities.

April, 2004:
WSI is named as one of Rockwell Collin’s Top Preferred Suppliers.
WSI is pleased to announce that they have been named as one of the Top Preferred Suppliers for 2003 by Rockwell Collins. WSI cited its performance in meeting delivery schedules and product quality. It was also recognized for its technical support to Rockwell Collins designers and engineers.
Rockwell Collins designs, produces, markets and supports communication, military and government customers.

February, 2004:
WSI Recognized by Victory Motorcycles
WSI was recognized by Victory Motorcycles for it’s "Outstanding achievement in support of the design, development, manufacturing, and the launch of the Victory Motorcycle for 2003."

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April, 2003:
WSI was Recognized as a Partner in General Dynamics Certified Supplier Program.
WSI successfully met the program requirements by demonstrating excellence in product quality, on-time delivery, and commitment to customer satisfaction. The Armament and Technical Products Deland Operations of General Dynamics awarded the recognition.

January, 2003:
WSI receives Polaris Industries’ Star Award
WSI is pleased to announce that they have received Polaris Industries’ "Star Award" in recognition of their outstanding contributions to Polaris’ cost reduction initiatives. WSI cost reduction suggestions "have made a significant contribution to the success of the Polaris Star Program".

August, 2000:
WSI Industries’ President & CEO Mike Pudil is interviewed in "Precision Manufacturing" Magazine.
Click for story

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