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Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0001171843-10-002311.txt : 20101104
<SEC-HEADER>0001171843-10-002311.hdr.sgml : 20101104
<ACCEPTANCE-DATETIME>20101104080031
ACCESSION NUMBER:		0001171843-10-002311
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20101104
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20101104
DATE AS OF CHANGE:		20101104

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			OLYMPIC STEEL INC
		CENTRAL INDEX KEY:			0000917470
		STANDARD INDUSTRIAL CLASSIFICATION:	WHOLESALE-METALS SERVICE CENTERS & OFFICES [5051]
		IRS NUMBER:				341245650
		STATE OF INCORPORATION:			OH
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-23320
		FILM NUMBER:		101163225

	BUSINESS ADDRESS:	
		STREET 1:		5080 RICHMOND RD
		CITY:			BEDFORD HEIGHTS
		STATE:			OH
		ZIP:			44146
		BUSINESS PHONE:		2162923800

	MAIL ADDRESS:	
		STREET 1:		5096 RICHMOND RD
		CITY:			BEDFORD HEIGHTS
		STATE:			OH
		ZIP:			44146
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>document.htm
<DESCRIPTION>FORM 8-K FILING DOCUMENT
<TEXT>
<!DOCTYPE html
	PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN"
	"http://www.w3.org/TR/html4/loose.dtd">
<html lang="en-US">
<head>
  <title>Form 8-K Filing</title>
</head>

<body>

<p align="center">
  <font size="5">
    <b>UNITED STATES<br>SECURITIES AND EXCHANGE COMMISSION<br></b>
  </font>
</p>

<p align="center">
  <font size="3">
    <b>Washington, D.C. 20549</b><br>
  </font>
</p>


<hr noshade="1" width="150" align="center">
<p align="center">
  <font size="5">
    <b>FORM 8-K</b><br>
  </font>
</p>


<hr noshade="1" width="150" align="center">
<p align="center">
  <font size="3">
    <b>CURRENT REPORT</b><br>
  </font>
</p>


<p align="center">
  <font size="3">
    <b>Pursuant to Section&nbsp;13 OR 15(d) of<br>The Securities Exchange Act of 1934</b><br>
  </font>
</p>


<p align="center">
  <font size="3">
    Date of Report (Date of earliest event reported) <b>November 4, 2010</b> &nbsp; <br>
  </font>
</p>

<hr noshade="1" width="150" align="center">

<p align="center">
  <font size="5">
    <b>Olympic Steel, Inc.</b>
  </font>
   <br> <font size="2">
    (Exact name of registrant as specified in its charter)
  </font>
</p>




<!-- Registrant's State of Inc, File and IRS Number -->
<table cellpadding="0" border="0" width="100%" cellspacing="0">

   <tr valign="top">
    <td width="32%" align="center">
      <br> <font size="2">
        <b>Ohio</b>
      </font>
    </td>
     <td width="3%">
      &nbsp;
    </td>
     <td width="32%" align="center">
      <br> <font size="2">
        <b>0-23320</b>
      </font>
    </td>
     <td width="3%">
      &nbsp;
    </td>
     <td width="32%" align="center">
      <br> <font size="2">
        <b>34-1245650</b>
      </font>
    </td>
  </tr>

   <tr valign="top">
    <td width="32%" align="center">
      <font size="2">
        (State or other jurisdiction<br>of incorporation)
      </font>
    </td>
     <td width="3%">
      &nbsp;
    </td>
     <td width="32%" align="center">
      <font size="2">
        (Commission File Number)
      </font>
    </td>
     <td width="3%">
      &nbsp;
    </td>
     <td width="32%" align="center">
      <font size="2">
        (IRS Employer Identification No.)
      </font>
    </td>
  </tr>

</table>


<!-- Registrant's Postal Addess and Zip Code -->
<br><br><table cellpadding="0" border="0" width="100%" cellspacing="0">

   <tr valign="top">
    <td width="19%">
      &nbsp;
    </td>
     <td width="47%" align="center">
      <br> <font size="2">
        <b>5096 Richmond Road, Bedford Heights, Ohio</b>
      </font>
    </td>
     <td width="2%">
      &nbsp;
    </td>
     <td width="13%" align="center">
      <br> <font size="2">
        <b>44146</b>
      </font>
    </td>
     <td width="19%">
      &nbsp;
    </td>
  </tr>

   <tr valign="top">
    <td width="19%">
      &nbsp;
    </td>
     <td width="47%" align="center">
      <font size="2">
        (Address of principal executive offices)
      </font>
    </td>
     <td width="2%">
      &nbsp;
    </td>
     <td width="13%" align="center">
      <font size="2">
        (Zip Code)
      </font>
    </td>
     <td width="19%">
      &nbsp;
    </td>
  </tr>

</table>
<p align="center">
  <font size="2">
    Registrant's telephone number, including area code: &nbsp;
    <b>(216) 292-3800</b>
  </font>
</p>

<p align="center">
  <font size="2">
  	<br /><br />
    ________________________________________________________________________________<br />
	(Former name or former address, if changed since last report)
  </font>
</p>

<!-- Simultaneous filing obligation checkboxes -->
<br><br><table cellpadding="0" border="0" width="100%" cellspacing="0">
	<tr valign="top">
	<td colspan=3>
	<font size="2">Check the appropriate box below if the Form 8-K
	filing is intended to simultaneously satisfy the filing obligation
	of the registrant under any of the following provisions:</font>
	</td>
	</tr>
	<tr valign="top">
		<td>&nbsp; &nbsp;</td>
		<td nowrap="1"><font size="2">[ &nbsp;&nbsp; ]</font></td>
		<td><font size="2">
			Written communications pursuant to Rule 425
			under the Securities Act (17 CFR 230.425)
		</font></td>
	</tr>
	<tr valign="top">
		<td>&nbsp; &nbsp;</td>
		<td nowrap="1"><font size="2">[ &nbsp;&nbsp; ]</font></td>
		<td><font size="2">
			Soliciting material pursuant to Rule 14a-12 under
			the Exchange Act (17 CFR 240.14a-12)
		</font></td>
	</tr>
	<tr valign="top">
		<td>&nbsp; &nbsp;</td>
		<td nowrap="1"><font size="2">[ &nbsp;&nbsp; ]</font></td>
		<td><font size="2">
			Pre-commencement communications pursuant to Rule 14d-2(b)
			under the Exchange Act (17 CFR 240.14d-2(b))
		</font></td>
	</tr>
	<tr valign="top">
		<td>&nbsp; &nbsp;</td>
		<td nowrap="1"><font size="2">[ &nbsp;&nbsp; ]</font></td>
		<td><font size="2">
			Pre-commencement communications pursuant to Rule 13e-4(c)
			under the Exchange Act (17 CFR 240.13e-4(c))
		</font></td>
	</tr>
</table>

<hr noshade="1">


<p>
  <font size="3">
    <b>Item 2.02. Results of Operations and Financial Condition.</b>
  </font>
</p>

<p>
  <font size="2">
    On November 4, 2010, Olympic Steel, Inc. issued a press release reporting its operating results for the fiscal quarter ended September 30, 2010.  The press release is attached hereto as Exhibit 99.1.<br>
<br>

The information included in this report, including exhibit 99.1, is furnished pursuant to Item 2.02 of Form 8-K, is not to be considered "filed" under the Securities Exchange Act of 1934, as amended ("Exchange Act"), and shall not be incorporated by reference into any of Olympic Steel, Inc.'s previous or future filings under the Securities Act of 1933, as amended, or the Exchange Act except as otherwise expressly stated in such filing.

  </font>
</p>



<p>
  <font size="3">
    <b>Item 9.01. Financial Statements and Exhibits.</b>
  </font>
</p>

<p>
  <font size="2">
    <p>(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exhibits</p>
<blockquote>
	<table border="0" cellpadding="0" cellspacing="2">
		<tr>
			<td>
				<p><b><font size="2"><u>Exhibit No.</u></font></b></p>
			</td>
			<td width="15"></td>
			<td>
				<p></p>
			</td>
		</tr>
		<tr>
			<td><font size="2"><br>
				</font></td>
			<td width="15"></td>
			<td></td>
		</tr>
		<tr>
			<td>
				<div align="left">
					<font size="2">99.1</font></div>
			</td>
			<td width="15"></td>
			<td>
				<p><font size="2">Press release dated November 4, 2010.</font></p>
			</td>
		</tr>
	</table>
</blockquote>
  </font>
</p>

<hr noshade="1">

<!-- Registrant's Signature -->
<p align="center">
  <font size="3">
	<b>SIGNATURE</b>
  </font>
</p>

<p>
  <font size="2">
    &nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities
	Exchange Act of 1934, as amended, the Registrant has duly caused this report to be
	signed on its behalf by the undersigned hereunto duly authorized.
  </font>
</p>

<table cellpadding="0" border="0" width="100%" cellspacing="0">
   <tr valign="top">
    <td width="47%">
      &nbsp;
    </td>
     <td width="5%">
      &nbsp;
    </td>
     <td width="47%" align="center">
      <font size="2">
        <b>Olympic Steel, Inc.</b>
      </font>
       <hr noshade="1"> <font size="2">
        (Registrant)<br><br>
      </font>
    </td>
  </tr>

   <tr valign="top">
    <td width="47%" align="center">
      <font size="2">
        <b>November 4, 2010</b>
      </font>
       <hr noshade="1"> <font size="2">
        (Date)
      </font>
    </td>
     <td width="5%">
      &nbsp;
    </td>
     <td width="47%" align="center">
      <font size="2">
        <b>/s/ &nbsp; RICHARD T. MARABITO</b>
      </font>
       <hr noshade="1"> <font size="2">
        Richard T. Marabito
      </font>
       <br> <font size="2">
        <i>Chief Financial Officer & Treasurer<br>(Principal Financial and Accounting Officer)</i>
      </font>
    </td>
  </tr>

</table>

<hr><br><div align="center">
	<b><u>Exhibit Index</u></b></div>
<p></p>
<table border="0" cellpadding="0" cellspacing="2">
	<tr>
		<td>
			<div align="left">
				<font size="2">99.1</font></div>
		</td>
		<td width="15"></td>
		<td>
			<p><font size="2">Press release dated November 4, 2010.</font></p>
		</td>
	</tr>
</table>

</body>

</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>newsrelease.htm
<DESCRIPTION>PRESS RELEASE
<TEXT>
<html><head><title>Olympic Steel Reports 2010 Third Quarter Financial Results</title></head><body><p align="right">EXHIBIT 99.1</p><h3 align="center">Olympic Steel Reports 2010 Third Quarter Financial Results</h3><p>CLEVELAND, Nov. 4, 2010 (GLOBE NEWSWIRE) -- Olympic Steel, Inc., (Nasdaq:ZEUS), a national steel service center, today announced its financial results for the third quarter and first nine months ended September 30, 2010.</p><p>
	Net sales for the third quarter of 2010 totaled $209.2 million, a 72% increase from the $121.6 million for the third quarter of 2009. Tons sold in the third quarter of 2010 increased 32.5% to 240 thousand from 181 thousand in the third quarter of 2009. Third quarter 2010 net loss totaled $1.2 million, or $0.11 per diluted share, compared to net income of $0.7 million, or $0.06 per diluted share for last year's third quarter. Third quarter 2010 results included a $2.1 million pretax bad debt charge for a receivable considered uncollectible related to an unexpected closure of a customer in September 2010.</p><p>
	Net sales for the first nine months of 2010 totaled $589.8 million, a 53.2% increase from the $384.9 million for the first nine months of 2009.&#xA0;Tons sold in the first nine months of 2010 increased 35.6% to 714 thousand from 527 thousand in the first nine months of 2009.&#xA0;Net income for the first nine months 2010 totaled $3.7 million, or $0.34 per diluted share, compared to a net loss of $58.6 million, or $5.39 per diluted share for last year's comparable period.&#xA0;The 2009 results included $81.1 million of lower of cost or market pretax charges to write down the value of inventory as of March 31 and June 30, 2009.&#xA0;</p><p>
	Commenting on the results, Chairman and Chief Executive Officer Michael D. Siegal stated, "While we are pleased with the continued growth in our tons sold and sales in the third quarter, and our ability to be profitable prior to incurring the unexpected bad debt cost, the market proved to be highly competitive and is likely to remain so in the near term. &#xA0;Our shipments in the first nine months of 2010 increased year over year by 35.6%, which is significantly greater than the market increase in total steel shipments of 19.8%, as reported in the Metals Service Center Institute's Market Activity Report.&#xA0;Our balance sheet remains exceptionally strong, and our new $125 million, five year, asset based loan facility, together with access to capital markets, provides Olympic Steel with a favorable capital structure to strategically grow our business."</p><p>
	The Company also today announced in a separate press release that it has signed agreements to purchase a new temper mill and cut-to-length line, and plans to locate it on United States Steel Corporation's Gary Works facility in Gary, Indiana.&#xA0;&#xA0;</p><p>
	Olympic Steel's Board of Directors approved a regular quarterly cash dividend of $0.02 per share to be paid to shareholders of record as of December 1, 2010, and distributed on December 15, 2010.&#xA0;</p><p>
	A simulcast of Olympic Steel's 2010 third quarter earnings conference call may be accessed via the Investor Relations section of the Company's website at www.olysteel.com.&#xA0;The simulcast will begin at 10:00 a.m. Eastern Time today and a replay of the call will be available for 14 days thereafter.</p><p>
	Founded in 1954, Olympic Steel is a leading U.S. metals service center focused on the direct sale and distribution of large volumes of processed carbon, coated and stainless flat-rolled sheet, coil and plate steel and aluminum products.&#xA0;Headquartered in Cleveland, Ohio, the Company operates 15 facilities.&#xA0;For further information, visit the Company's web site at http://www.olysteel.com.</p><p>
	The Olympic Steel, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3582</p><p>
	It is the Company's policy not to endorse any analyst's sales or earnings estimates.&#xA0;Forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.&#xA0;Forward-looking statements are typically identified by words or phrases such as "may," "will," "anticipate," "should," "intend," "expect," "believe," "estimate," "project," "plan," "potential," or "continue," as well as the negative of these terms or other similar expressions. Such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those implied by such statements.&#xA0;Readers are cautioned not to place undue reliance on these forward-looking statements.&#xA0;Such risks and uncertainties include, but are not limited to: the ability to successfully finalize an agreement with U.S. Steel for the purchase of the facility and to place the facility in operation on the expected timeframe; fluctu
ations in steel demand and steel pricing; general and global business, economic, financial and political conditions, including the ongoing effects of the global credit crisis and recovery; access to capital and global credit markets; competitive factors such as the availability and pricing of metal, industry shipping and inventory levels, and rapid fluctuations in customer demand and metal pricing; the cyclicality and volatility within the metals industry; the ability of our customers (especially those that may be highly leveraged, those in the domestic automotive industry and those with inadequate liquidity) to maintain their credit availability and to honor their agreements related to derivative instruments; customer, supplier, and competitor consolidation, bankruptcy or insolvency, especially those in the domestic auto industry; reduced production schedules, layoffs or work stoppages by our own, our suppliers' or our customers' personnel; the availability and costs of transportation and logistical service
s; equipment installation delays or malfunctions, including the temper mill and cut-to-length line; the amounts, successes and ability to continue our capital investments and our business information system projects; the successes of our strategic efforts and initiatives to increase sales volumes, maintain or improve working capital turnover and free cash flows, reduce costs and improve inventory turnover while improving customer service; the timing and outcome of inventory lower of cost or market adjustments;&#xA0;the adequacy of our existing information technology and business system software; the successful implementation of our new enterprise-wide information systems; the timing and outcome of our joint venture's efforts and ability to liquidate its remaining real estate; our ability to pay regular quarterly cash dividends &#xA0;and the amounts and timing of any future dividends; and our ability to generate free cash flow through operations, reduce inventory and repay debt within anticipated timeframes, 
the recently enacted federal healthcare legislation's impact on the healthcare benefits required to be provided by us and the impact of such legislation on our compensation and administrative costs.&#xA0;Further information on these and other risks and uncertainties is provided under Item 1A "Risk Factors" of our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, which disclosure is incorporated herein by reference, and elsewhere in reports that the Company files or furnishes with the SEC.&#xA0;This release speaks only as of its date and the Company undertakes no obligation to publicly update forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by law.&#xA0;You are advised, however, to consult any further disclosures the Company makes on related subjects in its reports filed with or furnished to the SEC.</p><table cellpadding="0" cellspacing="6" style=" border-collapse: separate; border-spacing: 6px ">

		<tr>
			<td colspan="5" style="font: 16px Arial; text-align: center">
				<strong>OLYMPIC STEEL</strong></td>
		</tr>
		<tr>
			<td colspan="5" style="font: 16px Arial; text-align: center">
				<strong>SELECTED FINANCIAL INFORMATION&#xA0;</strong></td>
		</tr>
		<tr>
			<td colspan="5" style="font: 12px Arial; text-align: center">
				(in thousands, except per share data and ratios)</td>
		</tr>
		<tr>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
		</tr>
		<tr>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td colspan="2" style="font: 12px Arial; text-align: center">
				<strong>Three Months Ended</strong></td>
			<td colspan="2" style="font: 12px Arial; text-align: center">
				<strong>Nine Months Ended</strong></td>
		</tr>
		<tr>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td colspan="2" style="font: 12px Arial; text-align: center; border-bottom: solid black 1.0pt;">
				<strong>September 30,</strong></td>
			<td colspan="2" style="font: 12px Arial; text-align: center; border-bottom: solid black 1.0pt;">
				<strong>September 30,</strong></td>
		</tr>
		<tr>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; text-align: center; border-bottom: solid black 1.0pt;">
				<strong>2010</strong></td>
			<td style="font: 12px Arial; text-align: center; border-bottom: solid black 1.0pt;">
				<strong>2009</strong></td>
			<td style="font: 12px Arial; text-align: center; border-bottom: solid black 1.0pt;">
				<strong>2010</strong></td>
			<td style="font: 12px Arial; text-align: center; border-bottom: solid black 1.0pt;">
				<strong>2009</strong></td>
		</tr>
		<tr>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left; border-bottom: solid black 1.0pt;">
				<strong>SUMMARY RESULTS OF OPERATIONS:</strong></td>
			<td colspan="2" style="font: 12px Arial; text-align: center">
				(unaudited)</td>
			<td colspan="2" style="font: 12px Arial; text-align: center">
				(unaudited)</td>
		</tr>
		<tr>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
		</tr>
		<tr>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				Net sales</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;$&#xA0;209,185</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;$&#xA0;121,599</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;$&#xA0;589,842</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;$&#xA0;384,898</td>
		</tr>
		<tr>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				Operating income (loss)</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;(1,276)</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;1,859</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;7,637</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;(93,383)</td>
		</tr>
		<tr>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				Income (loss) before income taxes&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">
				&#xA0;(1,878)</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">
				&#xA0;1,292</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">
				&#xA0;6,008</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">
				&#xA0;(95,244)</td>
		</tr>
		<tr>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				Net income (loss)</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: double black 2.5pt;">
				&#xA0;$&#xA0;(1,237)</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: double black 2.5pt;">
				&#xA0;$&#xA0;671</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: double black 2.5pt;">
				&#xA0;$&#xA0;3,728</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: double black 2.5pt;">
				&#xA0;$&#xA0;(58,616)</td>
		</tr>
		<tr>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				Earnings per share:</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
		</tr>
		<tr>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;">
				Net income (loss) per share - basic</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;$&#xA0;(0.11)</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;$&#xA0;0.06</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;$&#xA0;0.34</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;$&#xA0;(5.39)</td>
		</tr>
		<tr>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;">
				Net income (loss) per share - diluted</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;$&#xA0;(0.11)</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;$&#xA0;0.06</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;$&#xA0;0.34</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;$&#xA0;(5.39)</td>
		</tr>
		<tr>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
		</tr>
		<tr>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td colspan="2" style="font: 12px Arial; text-align: center; border-bottom: solid black 1.0pt;">
				<strong>September 30,</strong></td>
			<td style="font: 12px Arial; text-align: center">
				<strong>December 31,</strong></td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
		</tr>
		<tr>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; text-align: center; border-bottom: solid black 1.0pt;">
				<strong>2010</strong></td>
			<td style="font: 12px Arial; text-align: center; border-bottom: solid black 1.0pt;">
				<strong>2009</strong></td>
			<td style="font: 12px Arial; text-align: center; border-bottom: solid black 1.0pt;">
				<strong>2009</strong></td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
		</tr>
		<tr>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left; border-bottom: solid black 1.0pt;">
				<strong>SUMMARY BALANCE SHEET DATA:</strong></td>
			<td colspan="2" style="font: 12px Arial; text-align: center">
				(unaudited)</td>
			<td style="font: 12px Arial; text-align: center">
				(audited)</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
		</tr>
		<tr>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				Accounts receivable, net</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;$&#xA0;96,213</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;$&#xA0;54,468</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;$&#xA0;51,269</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
		</tr>
		<tr>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				Inventories, net</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;181,348</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;106,879</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;111,663</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
		</tr>
		<tr>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				Net property and equipment</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;114,613</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;115,654</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;113,560</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
		</tr>
		<tr>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				Total assets&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;415,368</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;334,396</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;338,448</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
		</tr>
		<tr>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				Current liabilities</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;93,742</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;58,313</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;66,254</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
		</tr>
		<tr>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				Total debt</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;50,050</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;1,440</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;--</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
		</tr>
		<tr>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				Shareholders' equity</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;263,241</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;262,808</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;259,612</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
		</tr>
		<tr>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				Shareholders' equity per share</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;24.16</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;24.15</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;23.85</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
		</tr>
		<tr>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				Debt-to-equity ratio</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;.19 to 1&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;.01 to 1&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;n/a&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
		</tr>
		<tr>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
		</tr>
		<tr>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td colspan="2" style="font: 12px Arial; text-align: center">
				<strong>Nine Months Ended</strong></td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
		</tr>
		<tr>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td colspan="2" style="font: 12px Arial; text-align: center; border-bottom: solid black 1.0pt;">
				<strong>September 30,</strong></td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
		</tr>
		<tr>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; text-align: center; border-bottom: solid black 1.0pt;">
				<strong>2010</strong></td>
			<td style="font: 12px Arial; text-align: center; border-bottom: solid black 1.0pt;">
				<strong>2009</strong></td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
		</tr>
		<tr>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left; border-bottom: solid black 1.0pt;">
				<strong>OTHER DATA:</strong></td>
			<td colspan="2" style="font: 12px Arial; text-align: center">
				(unaudited)</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
		</tr>
		<tr>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				Capital expenditures</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;10,733</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;10,754</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
		</tr>
		<tr>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				Cash dividends per share</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;$&#xA0;0.06</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;$&#xA0;0.09</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
		</tr>
		<tr>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
		</tr>
		<tr>
			<td colspan="5" style="font: 12px Arial; text-align: center">
				<strong>It is the Company's policy not to make quarterly or annual sales or earnings projections<br>
				for external use and not to endorse any analyst's sales or earnings estimates.</strong></td>
		</tr>
		<tr>
			<td colspan="5" style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
		</tr>

</table><table cellpadding="0" cellspacing="6" style=" border-collapse: separate; border-spacing: 6px ">

		<tr>
			<td colspan="9" style="font: 16px Arial; text-align: center">
				<strong>OLYMPIC STEEL</strong></td>
		</tr>
		<tr>
			<td colspan="9" style="font: 16px Arial; text-align: center">
				<strong>RESULTS OF OPERATIONS</strong></td>
		</tr>
		<tr>
			<td colspan="9" style="font: 12px Arial; text-align: center">
				(in thousands, except per share and tonnage data)</td>
		</tr>
		<tr>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
		</tr>
		<tr>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td colspan="4" style="font: 12px Arial; vertical-align: bottom; text-align: left; border-bottom: solid black 1.0pt;">
				<strong>Three Months Ended September 30,</strong></td>
			<td colspan="4" style="font: 12px Arial; vertical-align: bottom; text-align: left; border-bottom: solid black 1.0pt;">
				<strong>Nine Months Ended September 30,</strong></td>
		</tr>
		<tr>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td colspan="2" style="font: 12px Arial; text-align: center; border-bottom: solid black 1.0pt;">
				<strong>2010</strong></td>
			<td colspan="2" style="font: 12px Arial; text-align: center; border-bottom: solid black 1.0pt;">
				<strong>2009</strong></td>
			<td colspan="2" style="font: 12px Arial; text-align: center; border-bottom: solid black 1.0pt;">
				<strong>2010</strong></td>
			<td colspan="2" style="font: 12px Arial; text-align: center; border-bottom: solid black 1.0pt;">
				<strong>2009</strong></td>
		</tr>
		<tr>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td colspan="4" style="font: 12px Arial; text-align: center">
				(unaudited)</td>
			<td colspan="4" style="font: 12px Arial; text-align: center">
				(unaudited)</td>
		</tr>
		<tr>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				Tons sold</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
		</tr>
		<tr>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;Direct</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;218,173</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;161,758</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;647,729</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;470,176</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
		</tr>
		<tr>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;Toll</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">
				&#xA0;22,164</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">
				&#xA0;19,670</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">
				&#xA0;66,588</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">
				&#xA0;56,622</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
		</tr>
		<tr>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;240,337</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;181,428</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;714,317</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;526,798</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
		</tr>
		<tr>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;% change</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				32.5%</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				(32.2%)</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				35.6%</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				(43.7%)</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
		</tr>
		<tr>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
		</tr>
		<tr>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				Net sales</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;$&#xA0;209,185</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;$&#xA0;121,599</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;$&#xA0;589,842</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;$&#xA0;384,898</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
		</tr>
		<tr>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;% change</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				72.0%</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				(63.7%)</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				53.2%</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				(60.5%)</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
		</tr>
		<tr>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
		</tr>
		<tr>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				Costs and expenses</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
		</tr>
		<tr>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;">
				Cost of materials sold (exclusive of items shown below, includes</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;171,730</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				82.1%</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;91,391</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				75.2%</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				473,676</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				80.3%</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				390,431</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				101.4%</td>
		</tr>
		<tr>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;">
				$81,063 of inventory lower of cost or market adjustments for</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
		</tr>
		<tr>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;">
				the nine months ended September 30, 2009)</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
		</tr>
		<tr>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;">
				Warehouse and processing</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;13,436</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				6.4%</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;9,748</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				8.0%</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;37,057</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				6.3%</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;29,526</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				7.7%</td>
		</tr>
		<tr>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;">
				Administrative and general</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;9,388</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				4.5%</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;7,855</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				6.5%</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;28,600</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				4.8%</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;25,183</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				6.5%</td>
		</tr>
		<tr>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;">
				Distribution</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;5,176</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				2.5%</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;3,806</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				3.1%</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;14,312</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				2.4%</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;11,386</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				3.0%</td>
		</tr>
		<tr>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;">
				Selling</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;6,164</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				2.9%</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;2,855</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				2.3%</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;14,845</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				2.5%</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;8,971</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				2.3%</td>
		</tr>
		<tr>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;">
				Occupancy</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;1,297</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				0.6%</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;1,188</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				1.0%</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;3,940</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				0.7%</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;4,203</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				1.1%</td>
		</tr>
		<tr>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;">
				Depreciation</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">
				&#xA0;3,270</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				1.6%</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">
				&#xA0;2,897</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				2.4%</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">
				&#xA0;9,775</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				1.7%</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">
				&#xA0;8,581</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				2.2%</td>
		</tr>
		<tr>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 20.0px;">
				Total costs and expenses</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">
				&#xA0;210,461</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				100.6%</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">
				&#xA0;119,740</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				98.5%</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">
				&#xA0;582,205</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				98.7%</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">
				&#xA0;478,281</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				124.3%</td>
		</tr>
		<tr>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;">
				Operating income (loss)</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;(1,276)</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				(0.6%)</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;1,859</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				1.5%</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;7,637</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				1.3%</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;(93,383)</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				(24.3%)</td>
		</tr>
		<tr>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				Interest and other expense on debt</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">
				&#xA0;602</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				0.3%</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">
				&#xA0;567</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				0.5%</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">
				&#xA0;1,629</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				0.3%</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">
				&#xA0;1,861</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				0.5%</td>
		</tr>
		<tr>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;">
				Income (loss) before income taxes</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;(1,878)</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				(0.9%)</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;1,292</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				1.1%</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;6,008</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				1.0%</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				&#xA0;(95,244)</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				(24.7%)</td>
		</tr>
		<tr>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				Income tax provision (benefit)</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">
				&#xA0;(641)</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				34.1%</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">
				&#xA0;621</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				48.1%</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">
				&#xA0;2,280</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				37.9%</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: solid black 1.0pt;">
				&#xA0;(36,628)</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap;">
				38.5%</td>
		</tr>
		<tr>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				Net income (loss)</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: double black 2.5pt;">
				&#xA0;$&#xA0;(1,237)</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: double black 2.5pt;">
				&#xA0;$&#xA0;671</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: double black 2.5pt;">
				&#xA0;$&#xA0;3,728</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: double black 2.5pt;">
				&#xA0;$&#xA0;(58,616)</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
		</tr>
		<tr>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
		</tr>
		<tr>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				Earnings per share:</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
		</tr>
		<tr>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;">
				Net income (loss) per share - basic</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: double black 2.5pt;">
				&#xA0;$&#xA0;(0.11)</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: double black 2.5pt;">
				&#xA0;$&#xA0;0.06</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: double black 2.5pt;">
				&#xA0;$&#xA0;0.34</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: double black 2.5pt;">
				&#xA0;$&#xA0;(5.39)</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
		</tr>
		<tr>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;">
				Weighted average shares outstanding - basic</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: double black 2.5pt;">
				&#xA0;10,909</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: double black 2.5pt;">
				&#xA0;10,894</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: double black 2.5pt;">
				&#xA0;10,903</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: double black 2.5pt;">
				&#xA0;10,884</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
		</tr>
		<tr>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;">
				Net income (loss) per share - diluted</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: double black 2.5pt;">
				&#xA0;$&#xA0;(0.11)</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: double black 2.5pt;">
				&#xA0;$&#xA0;0.06</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: double black 2.5pt;">
				&#xA0;$&#xA0;0.34</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: double black 2.5pt;">
				&#xA0;$&#xA0;(5.39)</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
		</tr>
		<tr>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;">
				Weighted average shares outstanding - diluted</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: double black 2.5pt;">
				&#xA0;10,909</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: double black 2.5pt;">
				&#xA0;10,909</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: double black 2.5pt;">
				&#xA0;10,916</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: double black 2.5pt;">
				&#xA0;10,884</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
		</tr>
		<tr>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
		</tr>
		<tr>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
		</tr>
		<tr>
			<td colspan="9" style="font: 12px Arial; text-align: center">
				<strong>It is the Company's policy not to make quarterly or annual sales or earnings projections<br>
				for external use and not to endorse any analyst's sales or earnings estimates.</strong></td>
		</tr>
		<tr>
			<td colspan="9" style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
		</tr>
		<tr>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
			<td style="font: 12px Arial; vertical-align: bottom; text-align: left ">
				&#xA0;</td>
		</tr>

</table><pre>CONTACT:  Olympic Steel, Inc.
          Richard T. Marabito, Chief Financial Officer
          (216) 292-3800
          Fax:  (216) 292-3974</pre></body></html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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