Construction builds Insteel’s earnings
Jul 18, 2013 | 04:20 PM
| Samuel Frizell
NEW YORK Insteel Industries Inc.s earnings soared in its fiscal third quarter compared with a year earlier, riding the coattails of slowly but steadily improving investment in construction that has boosted the companys shipments.
"Activity levels in our markets improved marginally during the (fiscal) third quarter, continuing a plodding recovery characterized by sluggish construction spending and employment," president and chief executive officer H.O. Woltz III said during a conference call with investors. "Were continuing to see a recovery thats unimpressive, although business is certainly better than at any time since the downturn we saw in 2008.....
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