Insteel Industries touches record high as price increases boosts sales

Insteel Industries

21/04/2022 15:37

** Shares in construction materials co  IIIN.N  up as much
as 13.1% at a record high of $45.33
    ** Co's Q2 net sales rose to $213.2 mln from $139 mln,
driven by a 65.4% increase in average selling prices  urn:newsml:reuters.com:*:nBwfgVwja
    ** Co reported record quarterly net earnings of $39 mln, or
$1.99 per share, up from $14.9 mln, or $0.76 per share a year
earlier
    ** Stock last up 12.7% and is among top NYSE-listed pct
gainers
    ** IIIN up 13.5% since the start of the year

 (Reporting by Uday Sampath in Bengaluru)
 ((UdaySampath.Kumar@thomsonreuters.com; Twitter: https://twitter.com/sampath_uday
  ;))