Insteel’s Revenue Up, Profits Down | Winston–Salem News

Insteel Industries saw a 10% revenue boost—but operating costs soared even higher, wiping out gains and slashing net earnings by 17%. Earnings per share plummeted from $1.37 to just $0.37, while sales per share dropped from 16 cents to 6 cents. Controller W.H. O’Neal admits some strategies aren’t working and the company is actively cutting costs and reevaluating operations across 14 states and 3,000 employees. While revenue is up, the bottom line is down—and they’re in a tough adjustment phase trying to find their footing. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/3a4e97780fd7870f