Insteel rebounds in ’12 but construction doubts persist

Oct 18, 2012 | 03:13 PM |

Tags  Insteel Industries, H.O. Woltz III, earnings, construction, wire products, wire rod, Michael Cowden

CHICAGO — Insteel Industries Inc. swung back into the black in fiscal 2012 despite capacity utilization levels that slipped below 50 percent and its top executive’s warnings that the outlook for nonresidential construction, the company’s biggest market, is showing signs of slowing.

The Mount Airy, N.C.-based manufacturer of steel wire reinforcing products also said in its earnings report released Thursday that results for its fiscal fourth quarter ended Sept. 29 were squeezed by tighter spreads between average selling prices and raw material costs.....

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