INSTEEL INDUSTRIES INC
For the period ended Mar 29, 2025. Filed Apr 17, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 29, 2025 · Filed Apr 17, 2025
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Item 1A. Risk Factors
Except as set forth below, during the quarter ended March 29, 2025, there have been no material changes from the risk factors set forth under Part I, Item 1A. “Risk Factors” in our 2024 Annual Report. You should carefully consider these factors in addition to the other information set forth in this report which could materially affect our business, financial condition or future results. The risks and uncertainties described in this report and in our 2024 Annual Report, as well as other reports and statements that we file with the SEC, are not the only risks and uncertainties facing us. Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial may also have a material adverse effect on our financial position, results of operations or cash flows.
Sustained uncertainty about, or worsening of, current global economic conditions and further tariffs and escalations of tensions between the U.S. and its trading partners could result in a global economic slowdown and long-term changes to global trade. Such events may also cause customers and end-users to reduce, delay or forego spending on projects involving our products, which could negatively affect demand for our products and our business, financial condition and results of operations. In addition, these conditions could increase the cost of production, including the cost of machinery, spare parts and other materials used in manufacturing our products, further pressuring margins and adversely impacting our operating performance.
The following table summarizes the repurchases of common stock during the quarter ended March 29, 2025.
| (In thousands except share and per share amounts) | Total Number of Shares Purchased | Average Price Paid per Share | Total Number of Shares Purchased as Part of Publicly Announced Plan or Program | Maximum Number (or Approximate Dollar Value) of Shares That May Yet Be Purchased Under the Plan or Program |
|---|---|---|---|---|
| December 29, 2024 - February 1, 2025 | 15,665 | $28.60 | 15,665 | $18,323 (1) |
| February 2, 2025 - March 1, 2025 | 14,581 | 28.55 | 14,581 | $17,907 (1) |
| March 2, 2025 - March 29, 2025 | 9,604 | 27.06 | 9,604 | $17,647 (1) |
| 39,850 | 39,850 |
| (1) | Under the $25.0 million share repurchase authorization announced on November 18, 2008, which continues in effect until terminated by the Board of Directors. |
Additional information regarding our share repurchase authorization is discussed in Note 12 to our consolidated financial statements and incorporated herein by reference.
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