Last $22.36 USD
Change Today -0.45 / -1.97%
Volume 98.1K
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As of 8:10 PM 09/19/14 All times are local (Market data is delayed by at least 15 minutes).

olympic steel inc (ZEUS) Snapshot

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10/21/13 - $31.68
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olympic steel inc (ZEUS) Details

Olympic Steel, Inc. processes and distributes metal products primarily in the United States, Canada, Puerto Rico, and Mexico. It operates in two segments, Flat Products, and Tubular and Pipe Products. The Flat Products segment distributes processed carbon, coated, aluminum and stainless flat-rolled sheet, coil, and plate products. The Tubular and Pipe Products segment distributes metal tubing, pipe, bar, valves, and fittings and fabricate pressure parts to various industrial markets. The company also provides various processing services comprising cutting-to-length, slitting, sawing, and shearing; and value-added processes of blanking, tempering, plate burning, laser cutting, precision machining, welding, fabricating, bending, polishing, kitting, and painting to process metals to specified lengths, widths, and shapes. It serves metal consuming industries, such as manufacturers and fabricators of transportation and material handling equipment, construction, mining and farm equipment, storage tanks, environmental and energy generation equipment, automobiles, food service and electrical equipment, and military vehicles and equipment, as well as general and plate fabricators and metals service centers through direct sales force. Olympic Steel, Inc. was founded in 1954 and is headquartered in Bedford Heights, Ohio.

1,850 Employees
Last Reported Date: 08/7/14
Founded in 1954

olympic steel inc (ZEUS) Top Compensated Officers

Chairman and Chief Executive Officer
Total Annual Compensation: $750.0K
President, Chief Operating Officer and Direct...
Total Annual Compensation: $700.0K
Chief Financial Officer and Principal Account...
Total Annual Compensation: $450.0K
Director, Chief Executive Officer of Chicago ...
Total Annual Compensation: $575.0K
Vice President and Treasurer
Total Annual Compensation: $200.0K
Compensation as of Fiscal Year 2013.

olympic steel inc (ZEUS) Key Developments

Olympic Steel Inc. Presents at Bank of America Merrili Lynch Executive Forum, Sep-11-2014 02:55 PM

Olympic Steel Inc. Presents at Bank of America Merrili Lynch Executive Forum, Sep-11-2014 02:55 PM. Venue: Pro Football Hall of Fame, Canton, Ohio, United States. Speakers: Richard T. Marabito, Chief Financial Officer and Principal Accounting Officer.

Olympic Steel Inc. Announces Executive Promotions

Olympic Steel Inc. announced the promotion of Andrew Markowitz to the newly created position of Vice President Sales and Marketing- Specialty Metals. Additionally, Jerrold Gideon has been promoted to General Manager- Integrity Stainless. Mr. Markowitz is a member of the Metals Service Center Institute and serves on the board of the Make-A-Wish Foundation's Northeast Ohio Chapter. Jerrold Gideon started at Integrity Stainless in 2009, and has served as Sales Manager since 2012.

Olympic Steel Inc. Announces Unaudited Consolidated Financial Results for the Second Quarter and Six Months Ended June 30, 2014; Names Ralph M. Della Ratta as Lead Independent Director; Announces Regular Quarterly Cash Dividend, Payable on September 16, 2014; Provides Capital Expenditure Guidance for the Second Half of 2014

Olympic Steel Inc. announced unaudited consolidated financial results for the second quarter and six months ended June 30, 2014. Net sales for the second quarter of 2014 increased $55.2 million, or 16.7%, to $386.0 million against $330.8 million for the same period of last year. Revenue was driven by higher sales volume and reflects increased market share. Second-quarter and first-half earnings in 2014 were negatively impacted by $0.4 million of pre-tax LIFO expense, related to the Company's tubular and pipe products segment. Last year's results had a contrary benefit related to pre-tax LIFO income totaling $0.4 million in the quarter, and $2.3 million in the first half. The net impact of both years' adjustments adversely affected reported comparisons in 2014 by $0.04 per diluted share in the quarter and by $0.15 per diluted share in the six-month period. Including the detrimental effect from the LIFO adjustments, reported net income increased 38% to $3.5 million, or $0.32 per diluted share, versus net income of $2.5 million, or $0.23 per diluted share, in 2013's comparable quarter. Operating income was $7.108 million against $6.024 million for the same period of last year. Income before income taxes was $5.325 million against $4.315 million for the same period of last year. For the first half of 2014, net sales increased 10% to $733.0 million, compared with $668.9 million in the first half of the prior year. Reported net income in the first half, including the adverse LIFO adjustments, was $6.3 million, or $0.57 per diluted share, compared with $7.7 million, or $0.69 per diluted share, during the first half 2013. Excluding the aforementioned LIFO adjustments from both years’ results, net earnings increased during 2014's first half, compared with the same period in 2013. Operating income was $13.337 million against $15.605 million for the same period of last year. Income before income taxes was $9.803 million against $12.222 million for the same period of last year. Capital expenditures were $5.1 million were much lower in the first half of 2014 than depreciation, which was $10.9 million. The company also announced Ralph M. Della Ratta has been appointed to the newly created position of Lead Independent Director. Mr. Della Ratta, 60, has served as an independent member of Olympic Steel's board of directors since 2004. He is chair of the board's compensation committee and serves as a member of the audit and compliance committee. Previously, Mr. Della Ratta also served as a member, and chairman, of the board's nominating committee. The Lead Independent Director will preside in the Chairman's absence at all meetings of the board, and at executive sessions of the independent directors. In this role, Mr. Della Ratta will also have authority to call meetings of the independent directors and will serve as a liaison between the Chairman and the other independent directors. The Olympic Steel board has also approved a regular quarterly cash dividend of $0.02 per share. The dividend is payable on September 16, 2014, to shareholders of record on September 2, 2014. Capital expenditures will be higher in the second half of 2014, compared to the first six months with most of these investments being made at Winder, Georgia facility that is on-boarding newly awarded business from Cat's new excavator and dozer operations in nearby Athens, Georgia.


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