Insteel sees nonresidential construction continuing recovery in FY14

theflyonthewall.com

H.O. Woltz III, Insteel's president and CEO stated, "As we move into FY14, nonresidential construction, our primary demand driver, continues to recover at an exceedingly slow rate from a protracted recession. The most recent forecasts and leading indicators for our construction end-markets point to modest growth gradually improving over the course of the year, which should favorably impact our financial results. We look forward to a more meaningful recovery that allows us to demonstrate the increased earnings power we believe we have developed through the Ivy acquisition and subsequent reconfiguration of our welded wire reinforcement operations."

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