Brief: Insteel Industries Reports Fourth Quarter And Fiscal 2019 Results

Insteel Industries

17/10/2019 11:39

Oct 17 (Reuters) - Insteel Industries Inc  IIIN.O :
    * INSTEEL INDUSTRIES REPORTS FOURTH QUARTER AND FISCAL 2019
RESULTS
    * Q4 SALES FELL 6.6 PERCENT TO $113.4 MILLION
    * Q4 LOSS PER SHARE $0.09
    * QTRLY CASH FLOW FROM OPERATIONS INCREASED TO $32.5 MILLION
FROM
$4.1 MILLION IN PRIOR YEAR QUARTER
    * "AS WE MOVE INTO FISCAL 2020, WE EXPECT CONTINUATION OF
FAVORABLE CONDITIONS IN OUR CONSTRUCTION END-MARKETS"
    * CAPITAL EXPENDITURES FOR FISCAL 2019 DECREASED TO $10.5
MILLION
FROM $18.4 MILLION IN PRIOR YEAR
    * "IMPORT-RELATED HEADWINDS, HOWEVER, ARE EXPECTED TO
PERSIST IN
OUR PC STRAND AND STANDARD WELDED REINFORCEMENT MARKETS"
    * CAPITAL EXPENDITURES ARE EXPECTED TO TOTAL UP TO $17.0
MILLION
IN 2020

Source text for Eikon:  ID:nPnc53z61a 
Further company coverage:  IIIN.O 

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