Olympic Steel. (ZEUS) Posts Q4 GAAP Loss of $2.42/Share

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Go back to Olympic Steel. (ZEUS) Posts Q4 GAAP Loss of $2.42/Share

Olympic Steel Reports 2014 Fourth-Quarter and Full-Year Results

February 26, 2015 6:00 AM EST

CLEVELAND, Feb. 26, 2015 (GLOBE NEWSWIRE) -- Olympic Steel, Inc., (Nasdaq: ZEUS), a national metals service center, today announced financial results for the fourth quarter and full year ended Dec. 31, 2014.

The Company's fourth-quarter 2014 net sales increased 12.5% to a fourth-quarter record of $326.7 million, compared with $290.5 million in the fourth quarter last year. Full-year net sales also set a new Company record, climbing 13.7% to $1.4 billion in 2014 versus $1.3 billion in 2013. The revenue growth in both 2014 periods was due to higher sales volume.

In the fourth quarter of 2014, it was determined that approximately $23.8 million of... More