secwatch.observer — SEC 8-K summary
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Issuer:     INSTEEL INDUSTRIES INC (IIIN)
CIK:        0000764401
Form:       8-K
Filed at:   2022-10-21T23:59:59+00:00
Accession:  0001437749-22-024495
Event type: earnings
Sentiment:  positive
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Insteel reports record FY2022 net earnings $125M ($6.37 EPS); Q4 EPS $1.24 vs $1.28
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- FY2022 record net earnings $125.0M ($6.37 diluted EPS) vs $66.6M ($3.41) prior year; net sales up 40% to $826.8M.
- Q4 net earnings $24.3M ($1.24) vs $25.2M ($1.28); net sales up 21.4% to $208.0M.
- Q4 gross margin 19.1% down 420bps YoY; ASPs up 26.1% but shipments down 3.7% and 6% sequentially.
- Debt-free with $48.3M cash; FY2023 capex up to $30M for structural mesh growth and cost improvements.
- Outlook optimistic on non-residential demand and Infrastructure Act benefits; monitoring residential weakness.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/764401/000143774922024495/0001437749-22-024495-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/764401/000143774922024495/iiin20221018_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-22-024495

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