Steel Mills
February 24, 2016
Olympic Posts Loss for Q4 and 2015 But Sees Improvement Ahead
Written by Sandy Williams
“It would be an understatement to say 2015 was a difficult year in the steel industry,” said Olympic Steel president and COO David Wolfort during the company’s earnings conference call.
Olympic Steel reported a net loss of $5.0 million for fourth quarter 2015 and a net loss of $26.8 million for the full year 2015. Consolidated sales were $237.5 million, down from the $326.7 million fourth-quarter 2014. Full-year net sales fell 18 percent to $1.2 billion.
