Insteel Industries Inc. Q1 Profit Misses Estimates

(RTTNews) - Insteel Industries Inc. (IIIN) released a profit for first quarter that missed the Street estimates.

The company's earnings totaled $1.08 million, or $0.06 per share. This compares with $1.13 million, or $0.06 per share, in last year's first quarter.

Analysts on average had expected the company to earn $0.09 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 6.6% to $129.72 million from $121.73 million last year.

Insteel Industries Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $1.08 Mln. vs. $1.13 Mln. last year. -EPS (Q1): $0.06 vs. $0.06 last year. -Revenue (Q1): $129.72 Mln vs. $121.73 Mln last year.