Steel Mills
April 30, 2014
Olympic Positioned for Promising Q2
Written by Sandy Williams
Higher volumes increased Olympic Steel net sales 2.6 percent to $347 million in Q1 2014 from $338 million a year ago. Net sales increased sequentially by 19 percent despite adverse shipping conditions. Net income totaled $2.8 million, down from 5.16 million in 2013
Flat steel volume increased 3 percent y/y to 299,000 tons for the quarter for net sales of $287 million. Tubular product shipments increased but sales fell by a little more than $1 million to $61 million due to lower average prices.
