Insteel Industries (IIIN) Misses Q4 EPS by 3c

Insteel Industries (NASDAQ: IIIN) reported Q4 EPS of $0.20, $0.03 worse than the analyst estimate of $0.23. Revenue for the quarter came in at $96.89 million versus the consensus estimate of $96.25 million.

Outlook

"Looking ahead to fiscal 2018, we expect improved business conditions driven by higher state and local infrastructure funding, modest increases in nonresidential construction and continued expansion of the housing market," commented H.O. Woltz III, Insteel's president and CEO. "We should also benefit from the deferral of business resulting from the adverse weather in many of our markets during the second half of fiscal 2017. We expect spreads to remain under pressure until the anticipated rebound in demand is reflected in our order book."

"The strategic investments we have made in our people, facilities and systems have enabled us to achieve market and cost leadership positions in our industry. We will continue to focus on realizing further improvements in our productivity and costs through our ongoing initiatives in the coming year."

For earnings history and earnings-related data on Insteel Industries (IIIN) click here.

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