Brief: Insteel Industries Reports Q1 Earnings Per Share Of $0.03

Insteel Industries

16/01/2020 11:46

Jan 16 (Reuters) - Insteel Industries Inc  IIIN.O :
    * INSTEEL INDUSTRIES REPORTS FIRST QUARTER 2020 RESULTS
    * Q1 EARNINGS PER SHARE $0.03
    * Q1 SALES FELL 6.3 PERCENT TO $97.6 MILLION
    * INSTEEL'S RESULTS FOR Q1 OF FISCAL 2020 CONTINUED TO BE
ADVERSELY AFFECTED BY LOW-PRICED IMPORT COMPETITION
    * LOOKING AHEAD TO REMAINDER OF FISCAL 2020, SHOULD BENEFIT
FROM
CONTINUED GROWTH IN INFRASTRUCTURE CONSTRUCTION
    * INSTEEL INDUSTRIES - FOR REMAINDER OF FISCAL 2020, EXPECT
TO
MAKE SIGNIFICANT PROGRESS ON OUR PRIMARY ORGANIC GROWTH
INITIATIVE
    * INSTEEL INDUSTRIES - IMPORTS REMAINED AT ELEVATED LEVELS
IN
CERTAIN OF CO'S MARKETS DURING QUARTER
    * INSTEEL INDUSTRIES- ENDED QUARTER DEBT-FREE WITH $67.1
MILLION
OF CASH AND NO BORROWINGS OUTSTANDING ON ITS $100.0 MILLION
REVOLVING CREDIT FACILITY

Source text for Eikon:  ID:nPncdds9Ba 
Further company coverage:  IIIN.O 

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