Insteel optimistic as earnings up sharply
Apr 18, 2013 | 04:33 PM
| Samuel Frizell
NEW YORK Insteel Industries Inc. posted net income of $3.71 million in its fiscal second quarter, up sharply from $262,000 in the same period last year, which the company attributed to widening spreads between selling prices and raw material costs.
Net income of $6.12 million for the six months ended March 30 vs. just $82,000 a year earlier was the highest level for the first half of any fiscal year since the recession, and president and chief executive officer H.O. Woltz III said during a conference call that improving construction markets and sentiment would continue to improve business. ....
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