Olympic Steel, Inc. (ZEUS) Misses Q1 EPS by 8c
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Olympic Steel Reports 2014 First Quarter Financial Results
April 30, 2014 6:00 AM EDTCLEVELAND, April 30, 2014 (GLOBE NEWSWIRE) -- Olympic Steel Inc. (Nasdaq: ZEUS), a national metals service center, today announced financial results for the first quarter ended Mar. 31, 2014.
Driven by higher volume, first quarter 2014 net sales climbed 2.6% to $346.9 million, compared with $338.1 million in the prior year first quarter. Net income totaled $2.8 million, or $0.25 per diluted share, compared with net income of $5.2 million, $0.47 per share in the first quarter of 2013. Last year, first-quarter results benefited from a pre-tax out-of-period adjustment to record LIFO income of $1.9 million ($1.2 million, or $0.11 per diluted share, after tax). No LIFO... More
