Insteel Industries, Inc. Reports Unaudited Consolidated Earning Results for the First Quarter Ended December 29, 2018
January 17, 2019 at 06:30 am EST
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Insteel Industries, Inc. reported unaudited consolidated earnings results for the first quarter ended December 29, 2018. For the quarter, the company reported net sales of $104,110,000 compared to $97,741,000 a year ago. Earnings before income taxes was $5,396,000 compared to $5,927,000 a year ago. Net earnings was $4,126,000 or $0.21 per basic share compared to $8,111,000 or $0.43 per basic share a year ago.
Insteel Industries, Inc. is a manufacturer of steel wire reinforcing products for concrete construction applications. The Company's operations are focused on the manufacture and marketing of steel wire reinforcing products for concrete construction applications. The Company's concrete reinforcing products consist of two product lines: prestressed concrete strand (PC strand) and welded wire reinforcement (WWR). Its PC strand is a seven-wire strand that is used to impart compression forces into precast concrete elements and structures, providing reinforcement for bridges, parking decks, buildings, and other concrete structures. Its WWR is produced as either a standard or a specially engineered reinforcing product for use in nonresidential and residential construction. Its products are sold to manufacturers of concrete products that are used in nonresidential construction. The Company sells its products nationwide across the United States, Canada, Mexico, and Central and South America.
INSTEEL INDUSTRIES, INC. 
