Insteel quarterly profits fall; market challenges ahead

摘要

Insteel Industries Inc.'s profits tumbled in the third quarter as shipments slid, spreads between raw material costs and selling prices narrowed and slack demand continued to plague the U.S. construction sector. The Mount Airy, N.C.-based manufacturer of steel wire reinforcing products said Thursday that its capacity utilization was only 44 percent in its fiscal third quarter compared with 46 percent in the second quarter and 48 percent a year ago.