Insteel's earnings slide in 4th qtr., fiscal year

Oct 24, 2005 | 09:04 AM |

Insteel Industries Inc. posted net income of $25 million in its fiscal year, down 20.5 percent from a record $31.5 million the previous year despite a 3.9-percent increase in sales to $345.5 million.

INSTEEL INDUSTRIES INC.(in thousands except per share) 20052004Year endedOct. 1Oct. 2Net sales$345,536$332,632Net income$25,045$31,489Per share2.643.514th qtr. endedOct. 1Oct. 2Net sales$94,798$105,839Net income$6,386$9,892Per share0.671.06The Mount Airy, N.C., wire products producer reported net income of $6.4 million in its fiscal fourth quarter ended Oct. 1, down 35.4 percent from the same period last year, on sales that fell 10.4 percent to $94.8 million.....

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