Insteel Industries (NASDAQ: IIIN) reported Q1 EPS of $0.23, $0.13 worse than the analyst estimate of $0.36. Revenue for the quarter came in at $93.9 million versus the consensus estimate of $92.5 million.

"We are encouraged by the stronger than anticipated order activity during the first quarter, which is typically our seasonally weakest period of the year,\" commented H.O. Woltz III, Insteel\'s president and CEO. \"Looking ahead to the remainder of fiscal 2017, the most recent macro indicators for our construction end-markets point to continued growth in nonresidential construction and the federal funding provided for under the FAST Act should have a greater impact on the infrastructure-related portion of our business in the coming year. We also expect to benefit from lower manufacturing costs through our ongoing process improvement initiatives and the cost reductions associated with the expansion of our Houston PC strand facility."

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