Olympic Steel (ZEUS) Tops Q4 EPS by 2c

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Go back to Olympic Steel (ZEUS) Tops Q4 EPS by 2c

Olympic Steel Reports 2016 Fourth-Quarter and Full-Year Results

March 2, 2017 5:45 AM EST

Market Share Increases to Record High

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, 2016.

Net sales in the 2016 fourth quarter increased 7.3%, to $254.9 million, up from $237.5 million in the same quarter of the prior year. Full-year 2016 net sales declined 10.2%, to $1.1 billion, compared with $1.2 billion in 2015. LIFO income was $0.8 million in the final quarter of 2016, versus $1.6 million in the comparable quarter in 2015. Full-year reported results benefited from $1.5 million of LIFO income in 2016,... More