Insteel Industries Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended December 28, 2013; Provides Capital Expenditures Guidance for the Fiscal 2014
January 16, 2014 at 05:00 pm IST
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Insteel Industries Inc. reported unaudited consolidated earnings results for the first quarter ended December 28, 2013. For the quarter, net sales were $87.218 million against $85.887 million a year ago. Earnings before income taxes was $4.331 million against $3.679 million a year ago. Net earnings were $2.747 million or $0.15 per diluted share against $2.402 million or 0.13 per diluted share a year ago. Net cash provided by operating activities was $6.322 million against $23.473 million a year ago. Capital expenditures was $1.984 million against $2.561 million a year ago.
For the fiscal 2014, capital expenditures are not expected to exceed $12.0 million.
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. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended December 28, 2013; Provides Capital Expenditures Guidance for the Fiscal 2014
INSTEEL INDUSTRIES, INC. 
