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Insteel Industries Inc. (IIIN) filed Quarterly Report for the period ended 2011-12-31.
Insteel Industries Inc. has a market cap of $234.9 million; its shares were traded at around $13.34 with a P/E ratio of 24.7 and P/S ratio of 0.7. The dividend yield of Insteel Industries Inc. stocks is 0.9%.
This is the annual revenues and earnings per share of IIIN over the last 10 years. For detailed 10-year financial data and charts, go to 10-Year Financials of IIIN.
Highlight of Business Operations:
The net loss for the first quarter of 2012 was $180,000, or ($0.01) per share, compared to $7.6 million, or ($0.44) per share, in the same year-ago period primarily due to the increase in gross profit and decreases in the restructuring charges and acquisition costs incurred in connection with the Ivy Acquisition.Operating activities used $729,000 of cash during the first quarter of 2012 compared to $5.1 million during the same period last year. The year-over-year change was primarily due to the improvement in our financial results partially offset by the change in the net working capital components of accounts receivable, inventories, and accounts payable and accrued expenses, which used $2.9 million in the current year period while providing $2.0 million in the same period last year. The cash used by net working capital in the current year period was due to an $11.7 million decrease in accounts payable and accrued expenses resulting from lower raw material purchases and the timing of the related payments, which was partially offset by a $5.8 million decrease in accounts receivable due to the usual seasonal decline in shipments and a $3.0 million decrease in inventories. The cash provided by net working capital in the prior year period was largely due to a $3.4 million reduction in inventories resulting from lower raw material purchases and a $2.6 million decrease in accounts receivable due to the usual seasonal decline in shipments. We may elect to make additional adjustments in our operating activities should the current recessionary conditions in our construction end markets persist, which could materially impact our cash requirements. While a downturn in the level of construction activity adversely affects sales to our customers, it generally reduces our working capital requirements.
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