Boston, MA 03/27/2014 (wallstreetpr) – WSI Industries, Inc. (NASDAQ:WSCI) top line sales experienced in 2013 continued in the second of 2014marking the second consecutive quarter of increased sales, attributed to the ongoing growth in the powersports segment. WSI industries’ Q2 sales surged to a high of $10.5 million and increase of 46%, up from $7.2 million reported for the same period 2013.
New product lines continue to position WSI industries at a strategic position for robust growth in the coming quarters.Rashleger, WSI Industries’ chief executive officer maintains all is set for the company to perform even better in the coming quarters in all the segments.
Powersport Segment behind Increased Growth
WSI Industries, Inc. (NASDAQ:WSCI)’s powersports business continued to lead the pack in terms of increased sales, registering an 81% increase in sales compared to sales registered in the first quarter. The increase in sales for this segment was as a result of the company’s manufacturing process that received a major uplift last year.
Demand for precision parts, offered by powersports have seen an upswing in the recent past, due to the ongoing growth in recreational vehicle makers such as Polaris Industries Inc. (NYSE:PII) and Harkey Davidson in Milwaukee.
Powersports segment continues to prove its worth as the leader in terms of revenue with the company also promising to ensure that its energy business segment also picks up in the year. Doubling of the company’s manufacturing process was in anticipation of increased demand for powersports products, normally used in recreational vehicles as well as motorcycles and all-terrain vehicles.
WSI Appoints New Director of Operations
WSI Industries, Inc. (NASDAQ:WSCI) has also confirmed the appointment of Dennis Middleton as its new Director of operations, HE comes to the company with 30 years of manufacturing experience as well as engineering. The addition of Mr. Middleton is expected to bolster WSI production capacity sure to support its growth in the coming months.
WSI Industries, Inc. (NASDAQ:WSCI)’s board of directors have also declared quarterly dividend payment of $0.04 per share to be paid to shareholders on record as of April 8, 2014 on April 22, 2014.
