Cautionary Note Regarding Forward-Looking Statements

? changes in the spending levels for nonresidential and residential construction

? changes in the amount and duration of transportation funding provided by

? credit market conditions and the relative availability of financing for us,

? competitive pricing pressures and our ability to raise selling prices in order

? changes in U.S. or foreign trade policy affecting imports or exports of steel

? unanticipated changes in customer demand, order patterns and inventory levels;

? the impact of fluctuations in demand and capacity utilization levels on our

? our ability to further develop the market for engineered structural mesh

? legal, environmental, economic, geopolitical or regulatory developments that

? unanticipated plant outages, equipment failures or labor difficulties; and

? the "Risk Factors" discussed in our 2021 Annual Report and in other filings

Third Quarter of Fiscal 2022 Compared to Third Quarter of Fiscal 2021

Selling, General and Administrative Expense

First Nine Months of Fiscal 2022 Compared to First Nine Months of Fiscal 2021

Selling, General and Administrative Expense

Our effective income tax rate was 22.6% for each of the nine-month periods ended July 2, 2022 and July 3, 2021.

Total capital (total debt + shareholders' equity) $ 364,924 $ 276,996

Our investing activities are largely discretionary, providing us with the ability to significantly curtail outlays when warranted based on business conditions.

Our cash is principally concentrated at one financial institution, which at times exceeds federally insured limits. We invest excess cash primarily in money market funds, which are highly liquid securities that bear minimal risk.

There have been no material changes in our contractual obligations and commitments as disclosed in our 2021 Annual Report other than those which occur in the ordinary course of business.

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