Olympic Steel (ZEUS) Posts Wider-than-Expected Q4 Loss

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Go back to Olympic Steel (ZEUS) Posts Wider-than-Expected Q4 Loss

Olympic Steel Reports 2015 Fourth-Quarter and Full-Year Results

February 25, 2016 6:00 AM EST

Cash Generated From Operations in 2015 Tops $107 Million

Debt Reduced by $99 Million During the Year

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

Consolidated 2015 fourth-quarter net sales were $237.5 million, down from the $326.7 million fourth-quarter record net sales reported in 2014. Full-year net sales fell 18% to $1.2 billion from $1.4 billion in 2014, which was also an annual record. Sharply lower market prices and weaker demand, compared with last... More