Insteel optimistic as earnings up sharply

Apr 18, 2013 | 04:33 PM | Samuel Frizell

Tags  Insteel Industries, earnings report, H.O. Woltz III, construction, steel wire reinforcing products, 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. ....





Latest Pricing Trends

Poll

Are you stocking more inventory today than 18 months ago?

Yes
No


View previous results