<SEC-DOCUMENT>0001157523-16-007218.txt : 20161103
<SEC-HEADER>0001157523-16-007218.hdr.sgml : 20161103
<ACCEPTANCE-DATETIME>20161103062024
ACCESSION NUMBER:		0001157523-16-007218
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20161103
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20161103
DATE AS OF CHANGE:		20161103

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:		161970039

	BUSINESS ADDRESS:	
		STREET 1:		5096 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>a51452609.htm
<DESCRIPTION>OLYMPIC STEEL, INC. 8-K
<TEXT>
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      <font style="font-family: Times New Roman; font-size: 18pt"><b>UNITED
      STATES</b></font><b><font style="font-family: Times New Roman; font-size: 18pt"><br style="font-size: 18pt; font-family: Times New Roman"></font><font style="font-family: Times New Roman; font-size: 18pt">SECURITIES
      AND EXCHANGE COMMISSION</font></b><br><br><font style="font-family: Times New Roman; font-size: 10pt"><b>Washington,
      D.C. 20549</b></font><br><font style="font-family: Times New Roman"><b>________________________</b></font><br>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 18pt"><b>FORM 8-K</b></font><br><font style="font-family: Times New Roman"><b>________________________</b></font><br><br>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 12pt"><b>CURRENT
      REPORT</b></font><br><br><font style="font-family: Times New Roman; font-size: 12pt"><b>Pursuant
      to Section 13 or 15(d) of</b></font><br><font style="font-family: Times New Roman; font-size: 12pt"><b>The
      Securities Exchange Act of 1934</b></font>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 10pt">Date of
      Report (Date of earliest event reported): </font><font style="font-family: Times New Roman; font-size: 10pt"><b>November
      3, 2016</b></font><br><font style="font-family: Times New Roman"><b>________________________</b></font><br><br><font style="font-size: 18pt"><b>Olympic
      Steel, Inc.</b></font><br>(Exact name of registrant as specified in its
      charter)
    </p>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 10pt" cellspacing="0">
      <tr>
        <td valign="top" style="width: 33%; padding-left: 0.0px; text-align: center">
          <b>Ohio</b>
        </td>
        <td valign="top" style="white-space: nowrap; width: 34%; padding-left: 0.0px; text-align: center; padding-right: 0.0px">
          <b>000-23320</b>
        </td>
        <td valign="top" style="white-space: nowrap; width: 33%; padding-left: 0.0px; text-align: center; padding-right: 0.0px">
          <b>34-1245650</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="width: 33%; padding-left: 0.0px; text-align: center">
          (State or other jurisdiction<br>of incorporation)
        </td>
        <td valign="top" style="width: 34%; padding-left: 0.0px; text-align: center">
          (Commission File Number)
        </td>
        <td valign="top" style="width: 33%; padding-left: 0.0px; text-align: center">
          (IRS Employer Identification No.)
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 10pt" cellspacing="0">
      <tr>
        <td valign="top" style="width: 50%; padding-left: 0.0px; text-align: center">
          <b>5096 Richmond Road, Bedford Heights, Ohio</b>
        </td>
        <td valign="bottom" style="white-space: nowrap; width: 50%; padding-left: 0.0px; text-align: center; padding-right: 0.0px">
          <b>44146</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="width: 50%; padding-left: 0.0px; text-align: center">
          (Address of principal executive offices)
        </td>
        <td valign="top" style="width: 50%; padding-left: 0.0px; text-align: center">
          (Zip Code)
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">
      Registrant's telephone number, including area code: &#160; <b>(216)
      292-3800</b>
    </p>
    <p style="text-align: center">
      ________________________________________________________________________<br>(Former
      name or former address, if changed since last report)
    </p>
    <p>

    </p>
    <p>
      <font style="font-family: Times New Roman; font-size: 10pt">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>
    </p>
    <p>
      <font style="font-size: 10pt">&#160;&#160;&#160;</font><font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)</font><br>&#160;&#160;&#160;<font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)</font><br>&#160;&#160;&#160;<font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</font><br>&#160;&#160;&#160;<font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))</font>
    </p>
    <div style="margin-bottom: 10pt; width: 100%; text-indent: 0pt; margin-right: 0pt; margin-left: 0pt">
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        <div style="text-align: left">

        </div>
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        <div style="text-align: center">

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          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p>
      <font style="font-size: 10pt"><b>Item 2.02. Results of Operations and
      Financial Condition.</b></font><br><br><br>On November 3, 2016, Olympic
      Steel, Inc. issued a press release reporting its operating results for
      the third quarter and nine months ended September 30, 2016. The press
      release is attached hereto as Exhibit 99.1.
    </p>
    <p>
      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
      &quot;filed&quot; under the Securities Exchange Act of 1934, as amended (&quot;Exchange
      Act&quot;), 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.<br><br><br><font style="font-size: 10pt"><b>Item
      9.01. Financial Statements and Exhibits.</b></font><br><br><br>
    </p>
    <p>
      (d) Exhibits.
    </p>
    <p>
      <u><b>Exhibit No.</b></u>
    </p>
    <p>
      99.1 Press release dated November 3, 2016.
    </p>
    <p>

    </p>
    <div style="margin-bottom: 10pt; width: 100%; text-indent: 0pt; margin-right: 0pt; margin-left: 0pt">
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      </div>
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        <div style="text-align: center">

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          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 10pt"><b>SIGNATURE</b></font>
    </p>
    <p style="text-indent: 30.0px; font-size: 10pt">
      <font style="font-family: Times New Roman; font-size: 10pt">Pursuant to
      the requirements of the Securities Exchange Act of 1934, the Registrant
      has duly caused this report to be signed on its behalf by the
      undersigned hereunto duly authorized.</font>
    </p>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 10pt" cellspacing="0">
      <tr>
        <td style="width: 47%">

        </td>
        <td style="width: 6%">
          &#160;
        </td>
        <td valign="top" style="border-bottom-style: solid; width: 47%; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: center">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Olympic Steel, Inc.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 47%">

        </td>
        <td style="width: 6%">

        </td>
        <td valign="top" style="width: 47%; padding-left: 0.0px; text-align: center">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (Registrant)
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 47%">

        </td>
        <td style="width: 6%">

        </td>
        <td style="width: 47%">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="border-bottom-style: solid; width: 47%; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: center">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>November 3, 2016</b>
          </p>
        </td>
        <td style="width: 6%">

        </td>
        <td valign="top" style="border-bottom-style: solid; width: 47%; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: center">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>/s/&#160;&#160; RICHARD T. MARABITO</b>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="width: 47%; padding-left: 0.0px; text-align: center">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (Date)
          </p>
        </td>
        <td style="width: 6%">

        </td>
        <td valign="top" style="width: 47%; padding-left: 0.0px; text-align: center">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Richard T. Marabito
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 47%">

        </td>
        <td style="width: 6%">

        </td>
        <td valign="top" style="width: 47%; padding-left: 0.0px; text-align: center">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <i>Chief Financial Officer</i>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 47%">

        </td>
        <td style="width: 6%">

        </td>
        <td valign="top" style="width: 47%; padding-left: 0.0px; text-align: center">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <i>(Principal Financial and Accounting Officer)</i>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-bottom: 10pt; width: 100%; text-indent: 0pt; margin-right: 0pt; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p style="text-align: center">
      <u><b>Exhibit Index</b></u>
    </p>
    <p>
      99.1&#160;Press release dated November 3, 2016
    </p>
    <p>

    </p>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a51452609ex99_1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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    <p style="text-align: right">
      <b>Exhibit 99.1</b>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 12pt"><b>Olympic
      Steel Reports 2016 Third-Quarter Results</b></font>
    </p>
    <p style="text-align: center">
      <i><font style="font-family: Times New Roman; font-size: 12pt"><b>Board
      Declares Regular Quarterly Cash Dividend</b></font></i>
    </p>
    <p>
      CLEVELAND--(BUSINESS WIRE)--November 3, 2016--<b>Olympic Steel, Inc.
      (Nasdaq: ZEUS)</b>, a leading national metals service center, today
      announced financial results for the third quarter and nine-months ended
      Sept. 30, 2016.
    </p>
    <p>
      Third-quarter net sales were $268.3 million, compared with $276.9
      million in 2015&#8217;s same quarter. Net sales during the 2016 nine-month
      period totaled $800.2 million, versus $938.0 million during the same
      period of the prior year. Average selling prices were lower in both 2016
      periods and lower sales volumes of carbon flat products were partially
      offset by higher sales volume of specialty metals flat products.
    </p>
    <p>
      Consolidated gross margin expanded to 21.3% of sales during the quarter,
      compared with 21.2% of sales in the third quarter of 2015. Gross margin
      in the current-year was negatively impacted by a non-recurring $1.7
      million arbitration decision, accrued in September, related to a 2015
      foreign steel purchase. This more than offset $0.7 million of LIFO
      income recorded in the third quarter. For the nine-month period, gross
      margin improved to 23.0% of sales, compared with 19.6% in the comparable
      period last year. Year-to-date, LIFO income was $0.7 million in 2016,
      compared with LIFO income of $1.7 million recorded in the 2015
      nine-month period.
    </p>
    <p>
      Operating income was breakeven in the third quarter, compared with $0.5
      million in last year&#8217;s third quarter. Year-to-date operating income
      improved to $8.4 million in 2016, compared with the operating loss of
      $20.6 million reported in the same period of 2015. Last year&#8217;s
      nine-months results included impairment charges totaling $24.5 million.
    </p>
    <p>
      &#8220;The commercial discipline exhibited by domestic steel producers this
      year is encouraging. Higher prices for steel making raw materials, such
      as iron ore and coking coal, suggest price increases announced by the
      mills in October may hold,&#8221; said Michael D. Siegal, Olympic Steel
      Chairman and Chief Executive Officer. &#8220;Looking ahead, our customers&#8217;
      inventory levels remain lean, suggesting order patterns should normalize
      if average prices begin to rebound.&#8221;
    </p>
    <p>
      For the third quarter, the Company reported a net loss of $1.8 million,
      or $0.16 cents per share, versus a net loss of $0.6 million, or $0.05
      per share in the year-ago quarter. The arbitrated decision lowered net
      earnings by $0.10 per share. In addition, income tax expense of $0.5
      million was recorded in the third quarter, despite a reported pretax
      loss, lowering net results. The increased income tax rate in 2016
      resulted from the previously disclosed tax valuation reserve adjustment
      in the second quarter, and a greater percentage of non-deductible
      expenses compared to lower pretax income in previous quarters.
    </p>
    <p>
      Net income for the 2016 nine-month period was $1.0 million, or $0.09 per
      diluted share. This was up from the net loss of $21.8 million, or a loss
      of $1.95 per share, in the same period last year.
    </p>
    <p>
      The Company&#8217;s Board of Directors also approved a regular quarterly cash
      dividend of $0.02 per share, payable on Dec. 15, 2016, to shareholders
      of record on Dec. 1, 2016.
    </p>
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          <hr style="height: 1.5pt; color: black">

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        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <b>Conference Call and Webcast</b>
    </p>
    <p>
      A simulcast of Olympic Steel&#8217;s 2016 third-quarter and nine-months
      results conference call can be accessed via the investor relations
      section of the Company&#8217;s website at <u><b>www.olysteel.com</b></u>.
      The simulcast will begin at 10 a.m. EDT today and a replay of the call
      will be available for 14 days thereafter.
    </p>
    <p>
      <b>Forward-Looking Statements</b>
    </p>
    <p>
      It is the Company&#8217;s policy not to endorse any analyst&#8217;s sales or
      earnings estimates. Forward-looking statements in this release are made
      pursuant to the safe harbor provisions of the Private Securities
      Litigation Reform Act of 1995. Forward-looking statements are typically
      identified by words or phrases such as &#8220;may,&#8221; &#8220;will,&#8221; &#8220;anticipate,&#8221;
      &#8220;should,&#8221; &#8220;intend,&#8221; &#8220;expect,&#8221; &#8220;believe,&#8221; &#8220;estimate,&#8221; &#8220;project,&#8221; &#8220;plan,&#8221;
      &#8220;potential,&#8221; or &#8220;continue,&#8221; 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. Readers are
      cautioned not to place undue reliance on these forward-looking
      statements. Such risks and uncertainties include, but are not limited
      to: general and global business, economic, financial and political
      conditions; competitive factors such as the availability, global
      production levels and pricing of metals, industry shipping and inventory
      levels and rapid fluctuations in customer demand and metals pricing;
      cyclicality and volatility within the metals industry; the strengthening
      of the U.S. dollar and the related impact on foreign steel pricing, U.S.
      exports, and foreign imports to the United States; the levels of
      imported steel in the United States; the availability and costs of
      transportation and logistical services; the successes of our strategic
      efforts and initiatives to increase sales volumes, maintain or improve
      working capital turnover and free cash flows, improve our customer
      service, and achieve cost savings, including our internal program to
      improve earnings; our ability to generate free cash flow through
      operations and limited future capital expenditures, reduce inventory and
      repay debt within anticipated time frames; events or circumstances that
      could impair or adversely impact the carrying value of any of our
      assets; risks and uncertainties associated with intangible assets,
      including additional impairment charges related to indefinite lived
      intangible assets; events or circumstances that could adversely impact
      the successful operation of our processing equipment and operations; the
      amounts, successes and our ability to continue our capital investments
      and strategic growth initiatives, including our business information
      system implementations; the successes of our operational excellence
      initiatives to improve our operating, cultural and management systems
      and reduce our costs; the ability to comply with the terms of our
      asset-based credit facility; the ability of our customers and third
      parties to honor their agreements related to derivative instruments;
      customer, supplier and competitor consolidation, bankruptcy or
      insolvency; reduced production schedules, layoffs or work stoppages by
      our own, our suppliers&#8217; or customers&#8217; personnel; the impacts of union
      organizing activities and the success of union contract renewals; the
      timing and outcomes of inventory lower of cost or market adjustments and
      last-in, first-out, or LIFO, income, especially during periods of
      declining market pricing; the ability of our customers (especially those
      that may be highly leveraged, and those with inadequate liquidity) to
      maintain their credit availability; the inflation or deflation existing
      within the metals industry, as well as our product mix and inventory
      levels on hand, which can impact our cost of materials sold as a result
      of the fluctuations in the LIFO inventory valuation; the adequacy of our
      existing information technology and business system software, including
      duplication and security processes; the adequacy of our efforts to
      mitigate cyber security threats; access to capital and global credit
      markets; our ability to pay regular quarterly cash dividends and the
      amounts and timing of any future dividends; our ability to repurchase
      shares of our common stock and the amounts and timing of any
      repurchases, if any; and unanticipated developments that could occur
      with respect to contingencies such as litigation, arbitration, and
      environmental matters, including any developments that would require any
      increase in our costs for such contingencies.
    </p>
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    </div>
    <p>
      <b>About Olympic Steel</b>
    </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. The Company&#8217;s CTI subsidiary is a leading
      distributor of steel tubing, bar, pipe, valves and fittings, and
      fabricates pressure parts for the electric utility industry.
      Headquartered in Cleveland, Ohio, Olympic Steel operates from 33
      facilities in North America.
    </p>
    <p>
      For additional information, please visit the Company&#8217;s website at <u>www.olysteel.com</u>
      or <u>www.b2i.us/profiles/investor/ContactUs.asp?BzID=2195</u>
    </p>
    <p style="text-align: center">
      <b>-Financial Tables Follow-</b>
    </p>
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      </div>
    </div>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 8pt" cellspacing="0">
      <tr>
        <td valign="top" colspan="20" style="padding-left: 0.0px; text-align: center">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Olympic Steel, Inc.</b><br><b>Consolidated Statements of
            Operations</b><br>(unaudited, in thousands, except per-share data)
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="9">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="8">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="9" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: center; padding-right: 0.0px">
          <b>Three Months Ended Sept. 30,</b>
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="8" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: center; padding-right: 0.0px">
          <b>Nine Months Ended Sept. 30,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="4" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: center; padding-right: 0.0px">
          <b>2016</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" colspan="4" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: center; padding-right: 0.0px">
          <b>2015</b>
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="4" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: center; padding-right: 0.0px">
          <b>2016</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" colspan="3" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: center; padding-right: 0.0px">
          <b>2015</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="9">

        </td>
        <td>

        </td>
        <td colspan="8">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          <b>Net sales</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          <b>268,255</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          <b>276,922</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          <b>800,212</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          <b>938,038</b>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Costs and expenses
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 15.0px; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Cost of materials sold (exclusive of items shown below)
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          211,037
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          218,172
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          616,545
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          753,949
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 15.0px; text-align: left">
          Warehouse and processing
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          20,034
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          21,261
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          61,561
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          65,520
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 15.0px; text-align: left">
          Administrative and general
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          16,003
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          15,943
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          48,054
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          49,287
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 15.0px; text-align: left">
          Distribution
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          8,995
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          8,950
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          27,762
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          27,819
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 15.0px; text-align: left">
          Selling
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          5,629
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          5,315
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          17,361
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          16,106
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 15.0px; text-align: left">
          Occupancy
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          2,135
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          2,196
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          6,630
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          7,212
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 15.0px; text-align: left">
          Depreciation
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          4,172
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          4,409
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          13,231
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          13,627
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 15.0px; text-align: left">
          Amortization
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          223
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          223
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          667
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          667
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 15.0px; text-align: left; padding-bottom: 2.0px">
          Impairment
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          -
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          -
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          -
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          24,451
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 30.0px; text-align: left; padding-bottom: 2.0px">
          Total costs and expenses
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          268,228
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          276,469
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          791,811
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          958,638
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 15.0px; text-align: left">
          <b>Operating income (loss)</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          <b>27</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          <b>453</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          <b>8,401</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          <b>(20,600</b>
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: left; padding-right: 0.0px">
          <b>)</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px">
          Other income (loss), net
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          21
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          (84
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: left; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          (42
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: left; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          (141
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: left; padding-right: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 15.0px; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Income (loss) before interest and income taxes
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          48
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          369
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          8,359
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          (20,741
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: left; padding-right: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px">
          Interest and other expense on debt
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          1,336
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          1,405
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          3,895
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          4,439
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 15.0px; text-align: left">
          Income (loss) before income taxes
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          (1,288
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: left; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          (1,036
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: left; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          4,464
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          (25,180
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: left; padding-right: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px">
          Income tax provision (benefit)
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          469
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          (438
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: left; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          3,438
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          (3,391
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: left; padding-right: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left; padding-bottom: 4.0px">
          <b>Net income (loss)</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px">
          <b>(1,757</b>
        </td>
        <td valign="bottom" style="border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; text-align: left; padding-right: 0.0px">
          <b>)</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px">
          <b>(598</b>
        </td>
        <td valign="bottom" style="border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; text-align: left; padding-right: 0.0px">
          <b>)</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px">
          <b>1,026</b>
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px">
          <b>(21,789</b>
        </td>
        <td valign="bottom" style="border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; text-align: left; padding-right: 0.0px">
          <b>)</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px">
          Earnings per share:
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 15.0px; text-align: left; padding-bottom: 4.0px">
          Net income (loss) per share-basic
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px">
          (0.16
        </td>
        <td valign="bottom" style="border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; text-align: left; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px">
          (0.05
        </td>
        <td valign="bottom" style="border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; text-align: left; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px">
          0.09
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px">
          (1.95
        </td>
        <td valign="bottom" style="border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; text-align: left; padding-right: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 15.0px; text-align: left; padding-bottom: 4.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Weighted average shares outstanding - basic
          </p>
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px">
          11,219
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px">
          11,203
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px">
          11,206
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px">
          11,200
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 15.0px; text-align: left; padding-bottom: 4.0px">
          <b>Net income (loss) per share-diluted</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px">
          <b>(0.16</b>
        </td>
        <td valign="bottom" style="border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; text-align: left; padding-right: 0.0px">
          <b>)</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px">
          <b>(0.05</b>
        </td>
        <td valign="bottom" style="border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; text-align: left; padding-right: 0.0px">
          <b>)</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px">
          <b>0.09</b>
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px">
          <b>(1.95</b>
        </td>
        <td valign="bottom" style="border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; text-align: left; padding-right: 0.0px">
          <b>)</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 15.0px; text-align: left; padding-bottom: 4.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Weighted average shares outstanding - diluted
          </p>
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px">
          11,219
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px">
          11,203
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px">
          11,206
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px">
          11,200
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-bottom: 10pt; width: 100%; text-indent: 0pt; margin-right: 0pt; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 8pt" cellspacing="0">
      <tr>
        <td valign="top" colspan="9" style="padding-left: 0.0px; text-align: center">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Olympic Steel, Inc.</b><br><b>Consolidated Balance Sheets</b><br>(unaudited,
            in thousands)
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="3" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: center; padding-right: 0.0px">
          <b>At Sept. 30, 2016</b>
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="3" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: center; padding-right: 0.0px">
          <b>At Dec. 31, 2015</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">
          <b>Assets</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Cash and cash equivalents
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          2,845
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          1,604
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Accounts receivable, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          110,989
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          92,877
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Inventories, net (includes LIFO debit of $7,255, and $6,555, as of
          Sept. 30, 2016, and Dec. 31, 2015, respectively)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          230,820
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          206,645
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px">
          Prepaid expenses and other
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          6,225
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          7,820
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 15.0px; text-align: left; padding-bottom: 2.0px">
          Total current assets
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          350,879
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          308,946
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Property and equipment, at cost
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          373,585
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          372,129
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px">
          Accumulated depreciation
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          (214,943
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: left; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          (205,591
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: left; padding-right: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 15.0px; text-align: left; padding-bottom: 2.0px">
          Net property and equipment
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          158,642
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          166,538
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Intangible assets, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          24,091
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          24,757
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px">
          Other long-term assets
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          16,355
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          13,229
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 15.0px; text-align: left; padding-bottom: 4.0px">
          <b>Total assets</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px">
          <b>549,967</b>
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px">
          <b>513,470</b>
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">
          <b>Liabilities</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Current portion of long-term debt
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          1,825
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          2,690
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Accounts payable
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          65,079
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          55,685
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Accrued payroll
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          9,285
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          6,884
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px">
          Other accrued liabilities
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          14,658
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          11,801
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 15.0px; text-align: left; padding-bottom: 2.0px">
          Total current liabilities
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          90,847
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          77,060
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Credit facility revolver
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          163,516
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          145,800
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Other long-term liabilities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          14,668
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          11,419
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px">
          Deferred income taxes
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          25,369
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          24,496
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 15.0px; text-align: left; padding-bottom: 2.0px">
          <b>Total liabilities</b>
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          <b>294,400</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          <b>258,775</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">
          <b>Shareholders' equity</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Preferred stock
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          -
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Common stock
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          128,563
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          128,129
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Treasury stock
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          (699
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: left; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          (699
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: left; padding-right: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Accumulated other comprehensive loss
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          (70
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: left; padding-right: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px">
          Retained earnings
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          127,703
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          127,335
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 15.0px; text-align: left; padding-bottom: 2.0px">
          <b>Total shareholders' equity</b>
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          <b>255,567</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          <b>254,695</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 15.0px; text-align: left; padding-bottom: 4.0px">
          <b>Total liabilities and shareholders' equity</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px">
          <b>549,967</b>
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px">
          <b>513,470</b>
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-bottom: 10pt; width: 100%; text-indent: 0pt; margin-right: 0pt; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 8pt" cellspacing="0">
      <tr>
        <td valign="top" colspan="17" style="padding-left: 0.0px; text-align: center">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Olympic Steel, Inc.</b><br><b>Segment Financial Information</b><br>(unaudited,
            in thousands)
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="7">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="7">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="7" style="white-space: nowrap; padding-left: 0.0px; text-align: center; padding-right: 0.0px">
          <b>Three Months Ended</b>
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="7" style="white-space: nowrap; padding-left: 0.0px; text-align: center; padding-right: 0.0px">
          <b>Nine Months Ended</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="7" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: center; padding-right: 0.0px">
          <b>Sept. 30,</b>
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="7" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: center; padding-right: 0.0px">
          <b>Sept. 30,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="7">

        </td>
        <td>

        </td>
        <td colspan="7">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="3" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: center; padding-right: 0.0px">
          <b>2016</b>
        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" colspan="3" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: center; padding-right: 0.0px">
          <b>2015</b>
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="3" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: center; padding-right: 0.0px">
          <b>2016</b>
        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" colspan="3" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: center; padding-right: 0.0px">
          <b>2015</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          <b>Net sales</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 15.0px; text-align: left">
          Carbon flat products
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          169,372
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          176,656
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          503,928
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          614,408
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 15.0px; text-align: left">
          Specialty metals flat products
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          49,539
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          46,470
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          144,898
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          151,816
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 15.0px; text-align: left; padding-bottom: 2.0px">
          Tubular and pipe products
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          49,344
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          53,796
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          151,386
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          171,814
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Total net sales
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          268,255
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          276,922
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          800,212
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          938,038
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          <b>Depreciation and amortization</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 15.0px; text-align: left">
          Carbon flat products
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          2,795
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          2,905
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          8,737
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          9,213
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 15.0px; text-align: left">
          Specialty metals flat products
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          203
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          175
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          586
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          525
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 15.0px; text-align: left">
          Tubular and pipe products
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          1,372
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          1,527
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          4,499
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          4,480
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 15.0px; text-align: left; padding-bottom: 2.0px">
          Corporate
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          25
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          25
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          76
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          76
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px">
          Total depreciation and amortization
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          4,395
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          4,632
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          13,898
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          14,294
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          <b>Operating income (loss)</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 15.0px; text-align: left">
          Carbon flat products
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          (3,613
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: left; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          (1,100
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: left; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          (122
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: left; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          (929
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: left; padding-right: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 15.0px; text-align: left">
          Specialty metals flat products
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          3,003
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          (358
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: left; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          7,326
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          (340
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: left; padding-right: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 15.0px; text-align: left">
          Tubular and pipe products
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          2,773
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          3,685
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          7,149
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          10,443
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 15.0px; text-align: left">
          Corporate
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          (2,136
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: left; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          (1,774
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: left; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          (5,952
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: left; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          (5,323
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: left; padding-right: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 15.0px; text-align: left; padding-bottom: 2.0px">
          Impairment
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          -
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          -
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          -
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          (24,451
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: left; padding-right: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px">
          Total operating income (loss)
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          27
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          453
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          8,401
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          (20,600
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: left; padding-right: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 15.0px; text-align: left; padding-bottom: 2.0px">
          Other income (loss), net
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          21
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          (84
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: left; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          (42
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: left; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          (141
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: left; padding-right: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Income (loss) before interest and income taxes
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          48
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          369
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          8,359
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          (20,741
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: left; padding-right: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 20.0px; text-align: left; padding-bottom: 2.0px">
          Interest and other expense on debt
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          1,336
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          1,405
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          3,895
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          4,439
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left; padding-bottom: 4.0px">
          Income (loss) before income taxes
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px">
          (1,288
        </td>
        <td valign="bottom" style="border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; text-align: left; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px">
          (1,036
        </td>
        <td valign="bottom" style="border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; text-align: left; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px">
          4,464
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px">
          (25,180
        </td>
        <td valign="bottom" style="border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; text-align: left; padding-right: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          <b>Capital expenditures</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 15.0px; text-align: left">
          Flat products
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          1,145
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          1,148
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          3,930
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          3,254
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 15.0px; text-align: left">
          Tubular and pipe products
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          593
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          636
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          1,405
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          2,763
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 15.0px; text-align: left; padding-bottom: 2.0px">
          Corporate
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          -
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          -
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          -
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          -
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left; padding-bottom: 4.0px">
          Total capital expenditures
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px">
          1,738
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px">
          1,784
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px">
          5,335
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px">
          6,017
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-bottom: 10pt; width: 100%; text-indent: 0pt; margin-right: 0pt; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 8pt" cellspacing="0">
      <tr>
        <td valign="top" colspan="8" style="padding-left: 0.0px; text-align: center">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Olympic Steel, Inc.</b><br><b>Segment Financial Information</b><br>(unaudited,
            in thousands)
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="3" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: center; padding-right: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>At Sept. 30,</b><br><b>2016</b>
          </p>
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: center; padding-right: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>At Dec. 31,</b><br><b>2015</b>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          <b>Total assets</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 15.0px; text-align: left">
          Flat products
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          357,184
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          329,885
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 15.0px; text-align: left">
          Tubular and pipe products
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          192,403
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          183,129
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 15.0px; text-align: left; padding-bottom: 2.0px">
          Corporate
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          380
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px">
          456
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left; padding-bottom: 4.0px">
          Total assets
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px">
          549,967
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px">
          513,470
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>Other information:</b></u>
          </p>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="3" style="white-space: nowrap; padding-left: 0.0px; text-align: center; padding-right: 0.0px">
          <b>At Sept. 30,</b>
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="white-space: nowrap; padding-left: 0.0px; text-align: center; padding-right: 0.0px">
          <b>At Dec. 31,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="3" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: center; padding-right: 0.0px">
          <b>2016</b>
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: center; padding-right: 0.0px">
          <b>2015</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Shareholders' equity per share
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          23.31
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          23.25
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Debt-to-equity ratio
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="3" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          0.65 to 1
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          0.58 to 1
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="6" style="white-space: nowrap; padding-left: 0.0px; text-align: center; padding-right: 0.0px">
          <b>Nine Months Ended</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="6" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: center; padding-right: 0.0px">
          <b>Sept. 30,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="3" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: center; padding-right: 0.0px">
          <b>2016</b>
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: center; padding-right: 0.0px">
          <b>2015</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="6">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Net cash from (used for) operating activities
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          (9,688
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: left; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          69,337
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Cash dividends per share
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          0.06
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-left: 0.0px; text-align: right; padding-right: 0.0px">
          0.06
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <p>
      CONTACT:<br>Olympic Steel Investor Relations<br>Matthew J. Dennis, CFA,
      216-672-0522
    </p>
  </body>
</html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
