Insteel Industries Inc announced record financial results for the second quarter ended April 1, 2006. Net earnings for the quarter increased to $7.4 million up by 47%, as compared with $5.0 million for the same period during last year. Sales for the second quarter increased to $89 up by 9% million from $81.7 million in the prior year quarter. Shipments for the second quarter increased by 20% while average selling prices decreased by 9% from the prior year levels.

For the six-month period ended April 1, 2006, net earnings increased to $15.1 million up by 48% as compared with $10.2 million for the same period last year. Sales for the six month period increased 10% to $172.5 million from $156.3 million in the prior year period. Shipments for the six month period increased 22% while average selling prices decreased 9% from the prior year levels.

"Insteel's record results for the second quarter were driven by strong demand for our concrete reinforcing products" said Mr HO Woltz III Insteel's president and CEO. "The strengthening in our order book enabled us to ramp up the operating schedules of our manufacturing facilities, favorably impacting productivity levels and unit conversion costs. We continue to focus on the fundamentals of our business in executing our strategy and driving further performance improvements throughout our operations."