Commenting on the outlook for fiscal 2012, Mr Woltz III president & CEO of Insteel said that "Recent macro indicators for the construction sector imply that conditions in our end markets may have stabilized following the precipitous drop off in demand that we have experienced in recent years. Unfortunately, we have yet to see signs of a pronounced recovery in our markets and there continues to be a high degree of uncertainty regarding the near term prospects for nonresidential construction and the resolution of a new federal transportation funding authorization given the current political dynamics in Washington."

He added that "We are highly encouraged by our continued progress with the integration of the Ivy acquisition and reconfiguration of our welded wire reinforcement operations. While the Ivy operations as a whole made a positive contribution to our financial results for the year, certain of the acquired facilities have underperformed due to inefficiencies and disruptions associated with the redeployment of equipment, both within and between locations. As we approach the completion of these activities, we expect to achieve considerable productivity and cost improvements during 2012 at the facilities that have been impacted. We believe the Ivy acquisition and related restructuring actions we have taken have significantly enhanced Insteel's earnings power, which should become more evident as business conditions improve."