Brief: Insteel Industries Reports Q2 EPS Of $0.23

Insteel Industries

16/04/2020 11:48

April 16 (Reuters) - Insteel Industries Inc  IIIN.O :
    * INSTEEL INDUSTRIES REPORTS SECOND QUARTER 2020 RESULTS
    * Q2 EARNINGS PER SHARE $0.23
    * Q2 SALES ROSE 2.6 PERCENT TO $114.9 MILLION
    * INSTEEL INDUSTRIES - AS WE MOVE INTO Q3, OUR VISIBILITY IS
LIMITED DUE TO ONGOING UNCERTAINTY SURROUNDING IMPACT OF
COVID-19
    * CO HAS A DEBT-FREE BALANCE SHEET, SIGNIFICANT CASH ON HAND
AND
HIGHLY VARIABLE COST STRUCTURE
    * WELL-POSITIONED TO SUCCESSFULLY NAVIGATE THROUGH
CHALLENGING
ENVIRONMENT
    * INTEGRATION OF STM ACQUISITION, CLOSURE PLANS FOR
SUMMERVILLE
FACILITY ARE PROCEEDING AS PLANNED

Source text for Eikon:  ID:nPnb5Bdvna 
Further company coverage:  IIIN.O 

 (Reuters.Briefs@thomsonreuters.com)