Insteel Industries (NASDAQ: IIIN) reported Q3 EPS of $0.36, $0.20 worse than the analyst estimate of $0.56. Revenue for the quarter came in at $96.9 million versus the consensus estimate of $125.1 million.

"As we move into the fourth fiscal quarter, the leading indicators for nonresidential construction remain positive and our customers are optimistic that business conditions will improve over the remainder of the year," commented H.O. Woltz III, Insteel's president and CEO. "We believe the recent increases in infrastructure funding that have been authorized at the state and local level will begin to favorably impact demand for our products later in the year. We also expect improved manufacturing costs driven by higher operating volumes together with our process improvement initiatives and the recent upgrading and expansion of our Houston PC strand facility."

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