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Update: Insteel Industries Fiscal Q2 Earnings Decrease, Sales Rise; Shares Fall
(Updates with stock move in the headline and first paragraph.)Insteel Industries (IIIN) shares were down past 15% in Thursday morning trading after the company's fiscal Q2 net earnings decreased and its net sales missed analysts' estimates.The company reported fiscal Q2 net earnings Thursday of $0.27 per diluted share, down from $0.52 a year earlier.Net sales for the quarter ended March 28 were $172.7 million, up from $160.7 million a year earlier. Two analysts polled by FactSet expected $178.2 million.Price: $31.44, Change: $-5.16, Percent Change: -14.10%
$IIIN
