This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Insteel Industries, Inc. F2Q10 (Qtr End 04/03/10) Earnings Call Transcript

Insteel Industries, Inc. (IIIN)

F2Q10 (Qtr End 04/03/10) Earnings Call Transcript

April 22, 2009 10:00 am ET

Executives

H. Woltz – Chairman, President and CEO

Mike Gazmarian – VP, CFO and Treasurer


Analysts

Tim Hayes – Davenport & Company

Robert Kelly – Sidoti

Nat Kellogg – Hudson Securities

John Cawler – Oppenheimer

Presentation

Operator

Good day ladies and gentlemen, and welcome to your Insteel Industries second quarter 2010 conference call. At this time all participants are in a listen-only mode. Later we will conduct a question-and-answer session, and instructions will be given at that time. (Operator Instructions). And as a reminder, this is being recorded. I'd now like to introduce Mr. H.Woltz. Please go ahead, sir.

H. Woltz

Thank you, good morning and thank you for your interest in Insteel, and welcome to our second quarter 2010 conference call, which will be conducted by Mike Gazmarian, our Vice President, CFO, and Treasurer and me.

Before we begin, let me remind you that some of the comments made in our presentation are considered to be forward-looking statements. Forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from those projected. These risk factors are described in our periodic filings with the SEC.

I'll now turn it over to Mike to review our second quarter financial results in the macro environment, and then will follow-up to comment more on market conditions, the PC strand trade cases and our business outlook.

Mike Gazmarian

Thank you. H. As we reported earlier this morning, Insteel returned to profitability during the second quarter of fiscal 2010 and further strengthened its financial position despite the continuation of challenging business condition. Net earnings for the quarter ended April 3rd, were $1.6 million or $0.09 per share, compared with the net loss of $16.4 million or $0.94 per share for the same period last year.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,768.04 +90.14 0.54%
S&P 500 1,960.81 +9.99 0.51%
NASDAQ 4,472.0530 +19.2610 0.43%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs