Credit Suisse Upgrades Olympic Steel (ZEUS) Two-Notches to Outperform

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Go back to Credit Suisse Upgrades Olympic Steel (ZEUS) Two-Notches to Outperform

Olympic Steel Reports 2015 First-Quarter Net Income

May 1, 2015 7:58 AM EDT

CLEVELAND, May 1, 2015 (GLOBE NEWSWIRE) -- Olympic Steel Inc., (Nasdaq: ZEUS) a national metals service center, today announced financial results for the first quarter ended Mar. 31, 2015.

First-quarter 2015 net sales of $345.9 million were comparable with sales of $346.9 million recorded in the same quarter last year. Net income was $1.1 million or $0.10 per diluted share in the quarter, compared with net income of $2.8 million, or $0.25 per diluted share, in the first quarter of 2014. The year-over-year decline in net income was attributable to lower gross margin in the current-year period.

"Our strategy has been to diversify products... More