Insteel Industries (IIIN) Gains Sharply Following Earnings

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Go back to Insteel Industries (IIIN) Gains Sharply Following Earnings

Insteel Industries Reports First Quarter Financial Results

January 21, 2016 6:31 AM EST

MOUNT AIRY, N.C., Jan. 21, 2016 /PRNewswire/ -- Insteel Industries, Inc. (NasdaqGS: IIIN) today announced financial results for its first quarter ended January 2, 2016.

First Quarter 2016 Results

Net earnings for the first quarter of fiscal 2016 increased to $6.7 million, or $0.36 per share from $4.2 million, or $0.22 per diluted share in the same period a year ago. Net sales decreased 16.5% to $92.4 million from $110.6 million in the prior year period on a 9.0% decrease in shipments and an 8.3% decrease in average selling prices.... More