<SEC-DOCUMENT>0001157523-18-000489.txt : 20180302
<SEC-HEADER>0001157523-18-000489.hdr.sgml : 20180302
<ACCEPTANCE-DATETIME>20180302060520
ACCESSION NUMBER:		0001157523-18-000489
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20180302
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20180302
DATE AS OF CHANGE:		20180302

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:		18659908

	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>a51767102.htm
<DESCRIPTION>OLYMPIC STEEL, INC. 8-K
<TEXT>
<html>
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    <title></title>
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    <p style="text-align: center">
      <font style="font-size: 18pt; font-family: Times New Roman"><b>UNITED
      STATES</b></font><b><font style="font-size: 18pt; font-family: Times New Roman"><br style="font-family: Times New Roman; font-size: 18pt"></font><font style="font-size: 18pt; font-family: Times New Roman">SECURITIES
      AND EXCHANGE COMMISSION</font></b><br><br><font style="font-size: 10pt; font-family: Times New Roman"><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-size: 18pt; font-family: Times New Roman"><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-size: 12pt; font-family: Times New Roman"><b>CURRENT
      REPORT</b></font><br><br><font style="font-size: 12pt; font-family: Times New Roman"><b>Pursuant
      to Section 13 or 15(d) of</b></font><br><font style="font-size: 12pt; font-family: Times New Roman"><b>The
      Securities Exchange Act of 1934</b></font>
    </p>
    <p style="text-align: center">
      <font style="font-size: 12pt; font-family: Times New Roman">Date of
      Report (Date of earliest event reported): </font><font style="font-size: 12pt; font-family: Times New Roman"><b>March
      2, 2018</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 cellspacing="0" style="margin-bottom: 10.0px; font-size: 10pt; font-family: Times New Roman; width: 100%">
      <tr>
        <td valign="top" style="text-align: center; padding-left: 0.0px; width: 33%">
          <b>Ohio</b>
        </td>
        <td valign="top" style="white-space: nowrap; padding-right: 0.0px; text-align: center; padding-left: 0.0px; width: 34%">
          <b>000-23320</b>
        </td>
        <td valign="top" style="white-space: nowrap; padding-right: 0.0px; text-align: center; padding-left: 0.0px; width: 33%">
          <b>34-1245650</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: center; padding-left: 0.0px; width: 33%">
          (State or other jurisdiction<br>of incorporation)
        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px; width: 34%">
          (Commission File Number)
        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px; width: 33%">
          (IRS Employer Identification No.)
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; font-size: 10pt; font-family: Times New Roman; width: 100%">
      <tr>
        <td valign="top" style="text-align: center; padding-left: 0.0px; width: 50%">
          <b>5096 Richmond Road, Bedford Heights, Ohio</b>
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: center; padding-left: 0.0px; width: 50%">
          <b>44146</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: center; padding-left: 0.0px; width: 50%">
          (Address of principal executive offices)
        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px; width: 50%">
          (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>[&#160;&#160;] <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;[&#160;&#160;] <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;[&#160;&#160;] <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;[&#160;&#160;] <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>
    <p>
      Indicate by check mark whether the registrant is an emerging growth
      company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405
      of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934
      (&#167;240.12b-2 of this chapter).
    </p>
    <p style="white-space: nowrap">
      Emerging growth company [&#160;&#160;]
    </p>
    <p>
      If an emerging growth company, indicate by check mark if the registrant
      has elected not to use the extended transition period for complying with
      any new or revised financial accounting standards provided pursuant to
      Section 13(a) of the Exchange Act. [&#160;&#160;]
    </p>
    <hr style="height: 1.0 pt; color: #000000; text-align: center; width: 100%">


    <p>

    </p>
    <p>

    </p>
    <div style="margin-bottom: 10pt; margin-left: 0pt; margin-right: 0pt; text-indent: 0pt; width: 100%">
      <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>
      <b>Item 2.02. Results of Operations and Financial Condition.</b><br><br><br>
    </p>
    <p>
      On March 2, 2018, Olympic Steel, Inc. issued a press release reporting
      its operating results for the fourth quarter and full-year ended Dec.
      31, 2017. 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>
    </p>
    <p>
      <b>Item 9.01. Financial Statements and Exhibits.</b><br><br><br>
    </p>
    <p>
      (d) Exhibits.
    </p>
    <p>
      <u><b>Exhibit No.</b></u>
    </p>
    <p>
      99.1 Press release dated March 2, 2018.
    </p>
    <p>

    </p>
    <hr style="height: 1.0 pt; color: #000000; text-align: center; width: 100%">


    <p>

    </p>
    <p>

    </p>
    <p>

    </p>
    <div style="margin-bottom: 10pt; margin-left: 0pt; margin-right: 0pt; text-indent: 0pt; width: 100%">
      <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">
      <font style="font-family: Times New Roman; font-size: 10pt"><b>SIGNATURE</b></font>
    </p>
    <p style="font-size: 10pt; text-indent: 30.0px">
      <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 cellspacing="0" style="margin-bottom: 10.0px; font-size: 10pt; font-family: Times New Roman; width: 100%">
      <tr>
        <td style="width: 47%">

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

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

        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px; width: 47%">
          <p style="margin-top: 0px; margin-bottom: 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; border-bottom-width: 1.0pt; text-align: center; border-bottom-color: black; padding-left: 0.0px; width: 47%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>March 2, 2018</b>
          </p>
        </td>
        <td style="width: 6%">

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

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

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

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

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

        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px; width: 47%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <i>(Principal Financial and Accounting Officer)</i>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-bottom: 10pt; margin-left: 0pt; margin-right: 0pt; text-indent: 0pt; width: 100%">
      <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>
    <hr style="height: 1.0 pt; color: #000000; text-align: center; width: 100%">
    <hr style="height: 1.0 pt; color: #000000; text-align: center; width: 100%">


    <p>

    </p>
    <p style="text-align: center">
      <u><b>Exhibit Index</b></u>
    </p>
    <p>
      <a href="a51767102ex99_1.htm">99.1</a> <a href="a51767102ex99_1.htm">Press
      Release dated March 2, 2018</a>
    </p>
    <p>

    </p>
    <p>

    </p>
  </body>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a51767102ex99_1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<html>
  <head>
    <title></title>
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  </head>
  <body style="font-family: Times New Roman; font-size: 8pt">
    <p style="text-align: right">
      <b>Exhibit 99.1</b>
    </p>
    <p style="text-align: center">
      <font style="font-size: 12pt; font-family: Times New Roman"><b>Olympic
      Steel Reports Improved 2017 Full-Year and Fourth-Quarter Results</b></font>
    </p>
    <p style="text-align: center">
      <i><font style="font-size: 12pt; font-family: Times New Roman"><b>Full-Year
      Net Sales Climb 26% in 2017 and by 21% in Fourth-Quarter, Versus 2016</b></font></i>
    </p>
    <p style="text-align: center">
      <i><font style="font-size: 12pt; font-family: Times New Roman"><b>Full-Year
      2017 Operating Income of $24 Million, Highest in Six Years</b></font></i>
    </p>
    <p style="text-align: center">
      <i><font style="font-size: 12pt; font-family: Times New Roman"><b>Company
      Achieves Record High Market Share in All Three Operating Segments in 2017</b></font></i>
    </p>
    <p>
      CLEVELAND--(BUSINESS WIRE)--March 2, 2018--<b>Olympic Steel Inc.,
      (Nasdaq: ZEUS)</b>, a national metals service center, today announced
      improved financial results for the full year and three months ended Dec.
      31, 2017.
    </p>
    <p>
      <b>Full-Year 2017 Results</b>
    </p>
    <p>
      Full-year 2017 net sales climbed 26%, reaching $1.3 billion, compared
      with $1.1 billion in 2016. Increased year-over-year shipping volume and
      higher average selling prices throughout 2017 contributed to the net
      sales increase. Full-year 2017 net income (GAAP) improved to $19.0
      million, or $1.67 per diluted share, compared with a net loss of $1.1
      million, or $0.10 per share in 2016.
    </p>
    <p>
      &#8220;Demand for metals improved during 2017, driven by stronger GDP growth
      in the U.S. and abroad,&#8221; said Chairman and Chief Executive Officer
      Michael Siegal. &#8220;Olympic Steel was, and remains, ideally positioned to
      support this rebound in U.S. industrial activity. The determined
      execution by our operations and sales teams resulted in our most
      profitable year since 2011.&#8221;
    </p>
    <p>
      Strong pricing dynamics for metals and healthy demand have continued in
      early 2018, he added.
    </p>
    <p>
      &#8220;Improving economic conditions have revitalized the U.S. manufacturing
      sector. Our customers are currently benefiting from recent tax
      legislation and higher capital equipment spending, and stand to gain
      further from potential infrastructure investments,&#8221; Siegal said. &#8220;We
      enter 2018 primed for growth and expect to prosper in this environment.
      With diversified products and superior customer service, combined with a
      strong balance sheet and an energized management team, we are poised for
      continued success.&#8221;
    </p>
    <p>
      <b>Fourth-Quarter 2017 Results</b>
    </p>
    <p>
      Fourth-quarter net sales increased 21% in 2017, to $308 million, which
      was up from $255 million in the same quarter of 2016. GAAP net income
      rose to $4.2 million in the fourth quarter of 2017, or $0.37 per diluted
      share, compared with a net loss of $2.1 million, or $0.19 per share in
      2016&#8217;s fourth quarter.
    </p>
    <p>
      In addition to increased shipping volume and higher sales prices, 2017
      net income also benefited from a fourth-quarter $6.2 million deferred
      tax liability revaluation related to the Tax Cuts and Jobs Act. This was
      partially offset in the 2017 fourth quarter by $2.7 million in LIFO
      expense, a $1.0 million commercial settlement, and a write-off of $0.2
      million in deferred financing expenses related to the Company&#8217;s new
      5-year $400 million credit facility.
    </p>
    <p>
      After adjusting for unusual items in 2017, and LIFO income in 2016, the
      adjusted net loss narrowed to $0.04 per share in 2017&#8217;s fourth quarter,
      compared with an adjusted net loss of $0.23 per share in the same
      quarter of 2016. Similarly, full-year 2017 adjusted net income increased
      to $1.18 per diluted share, up from an adjusted loss of $0.18 per share
      in 2016.
    </p>
    <div style="margin-bottom: 10pt; margin-left: 0pt; margin-right: 0pt; text-indent: 0pt; width: 100%">
      <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 cellspacing="0" style="margin-bottom: 10.0px; font-size: 8pt; font-family: Times New Roman; width: 100%">
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" colspan="15" style="text-align: center; padding-left: 0.0px">
          <b>Olympic Steel, Inc.</b>
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="15" style="text-align: center; padding-left: 0.0px">
          <b>Reconciliation of Net Income (Loss) Per Diluted Share</b>
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="15" style="text-align: center; padding-left: 0.0px">
          <b>to Adjusted Net Income (Loss) Per Diluted Share</b>
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="15" style="text-align: center; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            The following table reconciles adjusted net income (loss) per
            diluted share to the most directly comparable GAAP financial
            measure:
          </p>
        </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>
          &#160;
        </td>
      </tr>
      <tr>
        <td>

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

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

        </td>
        <td valign="top" colspan="7" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: center; border-bottom-color: black; padding-left: 0.0px">
          Dec. 31,
        </td>
        <td>

        </td>
        <td valign="top" colspan="7" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: center; border-bottom-color: black; padding-left: 0.0px">
          Dec. 31,
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="bottom" colspan="3" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: center; border-bottom-color: black; padding-left: 0.0px">
          2017
        </td>
        <td>

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

        </td>
        <td valign="bottom" colspan="3" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: center; border-bottom-color: black; padding-left: 0.0px">
          2017
        </td>
        <td>

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

        </td>
        <td valign="top" colspan="7" style="text-align: center; padding-left: 0.0px">
          <i>(unaudited)</i>
        </td>
        <td>

        </td>
        <td valign="top" colspan="6" style="text-align: center; padding-left: 0.0px">
          <i>(unaudited)</i>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Net income (loss) per diluted share (GAAP):</b>
          </p>
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          <b>0.37</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          <b>(0.19</b>
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          <b>)</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          <b>1.67</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          <b>(0.10</b>
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          <b>)</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: left; border-bottom-color: black; padding-left: 0.0px">
          Excluding the following items:
        </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>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 15.0px">
          Tax adjustment on retirement plan
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          0.16
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 15.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Deferred tax liability adjustment from Tax Cuts and Jobs Act
          </p>
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          0.54
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          0.54
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 15.0px">
          LIFO (expense) income
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (0.07
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          0.04
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (0.15
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          0.08
        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-bottom: 2.0px; padding-left: 15.0px">
          Deferred financing fee write-off
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          (0.01
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: left; border-bottom-color: black; padding-left: 0.0px">
          )
        </td>
        <td>

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

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          (0.01
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: left; border-bottom-color: black; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          -
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-bottom: 4.0px; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Adjusted net income (loss) per diluted share (non-GAAP):</b>
          </p>
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          <b>(0.04</b>
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: left; border-bottom-color: black; padding-left: 0.0px">
          <b>)</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          <b>(0.23</b>
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: left; border-bottom-color: black; padding-left: 0.0px">
          <b>)</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          <b>1.18</b>
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          <b>(0.18</b>
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: left; border-bottom-color: black; padding-left: 0.0px">
          <b>)</b>
        </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>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>
      <b>Conference Call and Webcast</b>
    </p>
    <p>
      A simulcast of Olympic Steel&#8217;s 2017 fourth-quarter and full-year
      earnings 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. EST on March 2, and a replay of the
      call will be available for approximately 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; and &#8220;continue,&#8221; as well as the negative of these terms or
      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; fluctuations in
      the value 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 and any associated and
      threatened tariffs and duties; the availability and rising costs of
      transportation and logistical services; the successes of our efforts and
      initiatives to increase sales and earnings, maintain or improve working
      capital turnover and free cash flows, improve our customer service, and
      achieve cost savings; our ability to generate free cash flow through
      operations 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
      acquisitions and our business information system implementations; the
      successes of our operational 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 or expense; 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 risks and 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 repurchases, if any;
      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; and changes in laws or regulations or the manner
      of their interpretation or enforcement could impact our financial
      performance and restrict our ability to operate our business or execute
      our strategies.
    </p>
    <div style="margin-bottom: 10pt; margin-left: 0pt; margin-right: 0pt; text-indent: 0pt; width: 100%">
      <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>
      In addition to financial information prepared in accordance with GAAP,
      this document also contains adjusted earnings per diluted share, which
      is a non-GAAP financial measure. Management&#8217;s view of the Company&#8217;s
      performance includes adjusted earnings per share, and management uses
      this non-GAAP financial measure internally for planning and forecasting
      purposes and to measure the performance of the Company. We believe this
      non-GAAP financial measure provides useful and meaningful information to
      us and investors because it enhances investors&#8217; understanding of the
      continuing operating performance of our business and facilitates the
      comparison of performance between past and future periods. This non-GAAP
      financial measure should be considered in addition to, but not as a
      substitute for, the information prepared in accordance with GAAP. A
      reconciliation of this non-GAAP measure to the most directly comparable
      GAAP financial measure is provided above.
    </p>
    <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 30
      facilities in North America.
    </p>
    <p>
      For additional information, please visit the Company&#8217;s website at <u>www.olysteel.com</u>
      or <u>http://ir.olysteel.com/Contact_Us?BzID=2195</u>
    </p>
    <p style="text-align: center">
      <b>-Financial Tables Follow-</b>
    </p>
    <div style="margin-bottom: 10pt; margin-left: 0pt; margin-right: 0pt; text-indent: 0pt; width: 100%">
      <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 cellspacing="0" style="margin-bottom: 10.0px; font-size: 8pt; font-family: Times New Roman; width: 100%">
      <tr>
        <td>

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

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

        </td>
      </tr>
      <tr>
        <td valign="top" colspan="18" style="text-align: center; padding-left: 0.0px">
          <b>Olympic Steel, Inc.</b>
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="18" style="text-align: center; padding-left: 0.0px">
          <b>Consolidated Statements of Operations</b>
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="18" style="text-align: center; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (in thousands, except per-share data)
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="7" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: center; border-bottom-color: black; padding-left: 0.0px">
          <b>Three Months Ended Dec. 31,</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="7" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: center; border-bottom-color: black; padding-left: 0.0px">
          <b>Twelve Months Ended Dec. 31,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="3" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: center; border-bottom-color: black; padding-left: 0.0px">
          <b>2017</b>
        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" colspan="3" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: center; border-bottom-color: black; padding-left: 0.0px">
          <b>2015</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="3" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: center; border-bottom-color: black; padding-left: 0.0px">
          <b>2017</b>
        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" colspan="3" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: center; border-bottom-color: black; padding-left: 0.0px">
          <b>2016</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" colspan="7" style="text-align: center; padding-left: 0.0px">
          <i>(unaudited)</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" colspan="7" style="text-align: center; padding-left: 0.0px">
          <i>(audited)</i>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          <b>Net sales</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          <b>308,166</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          <b>254,904</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          <b>1,330,696</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          <b>1,055,116</b>
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          248,366
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          203,494
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          1,055,212
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          820,040
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          21,555
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          17,960
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          87,425
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          79,521
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          16,960
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          15,001
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          69,659
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          63,054
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          10,282
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          8,728
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          41,789
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          36,490
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          6,481
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          5,699
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          26,285
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          23,060
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          2,211
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          2,088
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          8,862
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          8,718
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          4,073
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          4,365
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          16,589
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          17,596
        </td>
        <td>

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

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          222
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          222
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          889
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          889
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          310,150
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          257,557
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          1,306,710
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          1,049,368
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          <b>(1,984</b>
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          <b>)</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          <b>(2,653</b>
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          <b>)</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          <b>23,986</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          <b>5,748</b>
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px">
          Other income (loss), net
        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          (118
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: left; border-bottom-color: black; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          (55
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: left; border-bottom-color: black; padding-left: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (2,026
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (2,666
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          23,868
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          5,693
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px">
          Interest and other expense on debt
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          2,138
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          1,378
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          7,518
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          5,273
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 15.0px">
          Income (loss) before income taxes
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (4,164
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (4,044
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          16,350
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          420
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px">
          Income tax provision (benefit)
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          (8,351
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: left; border-bottom-color: black; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          (1,940
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: left; border-bottom-color: black; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          (2,613
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: left; border-bottom-color: black; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          1,498
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          <b>4,187</b>
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          <b>(2,104</b>
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: left; border-bottom-color: black; padding-left: 0.0px">
          <b>)</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          <b>18,963</b>
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          <b>(1,078</b>
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: left; border-bottom-color: black; padding-left: 0.0px">
          <b>)</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <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">
          Earnings per share:
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </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">

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          0.37
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          (0.19
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: left; border-bottom-color: black; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          1.67
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          (0.10
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: left; border-bottom-color: black; padding-left: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          11,389
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          11,221
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          11,381
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          11,210
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-bottom: 4.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Net income (loss) per share - diluted</b>
          </p>
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          <b>0.37</b>
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          <b>(0.19</b>
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: left; border-bottom-color: black; padding-left: 0.0px">
          <b>)</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          <b>1.67</b>
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          <b>(0.10</b>
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: left; border-bottom-color: black; padding-left: 0.0px">
          <b>)</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          11,391
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          11,221
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          11,381
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          11,210
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#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>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-bottom: 10pt; margin-left: 0pt; margin-right: 0pt; text-indent: 0pt; width: 100%">
      <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 cellspacing="0" style="margin-bottom: 10.0px; font-size: 8pt; font-family: Times New Roman; width: 100%">
      <tr>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="top" colspan="10" style="text-align: center; padding-left: 0.0px">
          <b>Olympic Steel, Inc.</b>
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="10" style="text-align: center; padding-left: 0.0px">
          <b>Consolidated Balance Sheets</b>
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="10" style="text-align: center; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (in thousands)
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="8" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: center; border-bottom-color: black; padding-left: 0.0px">
          <b>At Dec. 31,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="3" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: center; border-bottom-color: black; padding-left: 0.0px">
          <b>2017</b>
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" colspan="3" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: center; border-bottom-color: black; padding-left: 0.0px">
          <b>2016</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="8" style="text-align: center; padding-left: 0.0px">
          <b>(audited)</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px">
          <b>Assets</b>
        </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">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Cash and cash equivalents
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          3,009
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          2,315
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          132,737
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          101,902
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Inventories, net (includes LIFO debit of $5,337 and $8,045 as of
            Dec. 31, 2017, and 2016, respectively)
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          275,307
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          254,526
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          8,333
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          6,197
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px">
          Assets held for sale
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          750
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          -
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-bottom: 2.0px; padding-left: 25.0px">
          Total current assets
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          420,136
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          364,940
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          376,710
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          374,242
        </td>
        <td>

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

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          (229,062
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: left; border-bottom-color: black; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          (218,476
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: left; border-bottom-color: black; padding-left: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-bottom: 2.0px; padding-left: 25.0px">
          Net property and equipment
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          147,648
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          155,766
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          22,980
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          23,869
        </td>
        <td>

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

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          13,394
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          11,493
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-bottom: 4.0px; padding-left: 25.0px">
          <b>Total assets</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          <b>604,158</b>
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          <b>556,068</b>
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          84,034
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          79,458
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          11,999
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          8,445
        </td>
        <td>

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

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          14,184
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          15,170
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-bottom: 2.0px; padding-left: 25.0px">
          Total current liabilities
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          111,147
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          104,898
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Credit facility revolver
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          196,235
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          164,599
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          12,048
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          10,062
        </td>
        <td>

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

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          12,145
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          23,119
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-bottom: 2.0px; padding-left: 25.0px">
          <b>Total liabilities</b>
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          <b>331,575</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          <b>302,678</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          129,453
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          128,619
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (337
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (609
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px">
          Retained earnings
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          143,467
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          125,380
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-bottom: 2.0px; padding-left: 25.0px">
          <b>Total shareholders' equity</b>
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          <b>272,583</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          <b>253,390</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-bottom: 4.0px; padding-left: 25.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Total liabilities and shareholders' equity</b>
          </p>
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          <b>604,158</b>
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          <b>556,068</b>
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <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; margin-left: 0pt; margin-right: 0pt; text-indent: 0pt; width: 100%">
      <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 cellspacing="0" style="margin-bottom: 10.0px; font-size: 8pt; font-family: Times New Roman; width: 100%">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="16">

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="top" colspan="22" style="text-align: center; padding-left: 0.0px">
          <b>Olympic Steel, Inc.</b>
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="22" style="text-align: center; padding-left: 0.0px">
          <b>Segment Financial Information</b>
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="22" style="text-align: center; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (In thousands, except tonnage and per-ton data. Figures may not
            foot to consolidated totals due to Corporate expenses.)
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="16">

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="top" colspan="20" style="text-align: center; padding-left: 0.0px">
          <b>Three Months Ended Dec. 31:</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" colspan="20" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; border-bottom-color: black; padding-left: 0.0px">
          (unaudited)
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px">

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" colspan="7" style="text-align: center; padding-left: 0.0px">
          <b>Carbon Flat</b>
        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" colspan="5" style="white-space: nowrap; padding-right: 0.0px; text-align: center; padding-left: 0.0px">
          <b>Specialty Metals Flat</b>
        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" colspan="6" style="text-align: center; padding-left: 0.0px">
          <b>Tubular and Pipe</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-bottom: 2.0px; padding-left: 0.0px">

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

        </td>
        <td valign="bottom" colspan="7" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; border-bottom-color: black; padding-left: 0.0px">
          <b>Products</b>
        </td>
        <td valign="bottom" style="text-align: center; padding-bottom: 2.0px; padding-left: 0.0px">

        </td>
        <td valign="bottom" colspan="5" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; border-bottom-color: black; padding-left: 0.0px">
          <b>Products</b>
        </td>
        <td valign="top" style="text-align: center; padding-bottom: 2.0px; padding-left: 0.0px">

        </td>
        <td valign="bottom" colspan="6" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; border-bottom-color: black; padding-left: 0.0px">
          <b>Products(1)</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="3" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: center; border-bottom-color: black; padding-left: 0.0px">
          <b>2017</b>
        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" colspan="3" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: center; border-bottom-color: black; padding-left: 0.0px">
          <b>2016</b>
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: center; border-bottom-color: black; padding-left: 0.0px">
          <b>2017</b>
        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: center; border-bottom-color: black; padding-left: 0.0px">
          <b>2016</b>
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="3" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: center; border-bottom-color: black; padding-left: 0.0px">
          <b>2017</b>
        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: center; border-bottom-color: black; padding-left: 0.0px">
          <b>2016</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-bottom: 2.0px; padding-left: 0.0px">
          Tons sold<sup>1</sup>
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          258,074
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          244,938
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          21,175
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          19,012
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          NA
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px">
          Net sales
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          199,811
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          167,055
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          53,411
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          45,032
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          54,944
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          42,817
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px">
          Average selling price per ton
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          682
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          2,522
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          2,369
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="text-align: right; padding-left: 0.0px">
          NA
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="text-align: right; padding-left: 0.0px">
          NA
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-bottom: 2.0px; padding-left: 0.0px">
          Cost of materials sold<sup>2</sup>
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          161,359
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          136,979
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          45,786
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          37,452
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          41,221
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          29,063
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px">
          Gross profit<sup>3</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          38,452
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          30,076
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          7,625
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          7,580
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          13,723
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          13,754
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-bottom: 2.0px; padding-left: 0.0px">
          Operating expenses<sup>4</sup>
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          38,878
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          34,327
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          5,303
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          5,065
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          15,594
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          13,189
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-bottom: 4.0px; padding-left: 0.0px">
          Operating income (loss)
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          (426
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: left; border-bottom-color: black; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          (4,251
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: left; border-bottom-color: black; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          2,322
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          2,515
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          (1,871
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: left; border-bottom-color: black; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          565
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px">
          Depreciation and Amortization
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          2,619
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          2,953
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          202
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          1,448
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          1,398
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="16">

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="16">

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="top" colspan="20" style="text-align: center; padding-left: 0.0px">
          <b>Twelve Months Ended Dec. 31:</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" colspan="20" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; border-bottom-color: black; padding-left: 0.0px">
          (audited)
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px">

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" colspan="7" style="text-align: center; padding-left: 0.0px">
          <b>Carbon Flat</b>
        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" colspan="5" style="white-space: nowrap; padding-right: 0.0px; text-align: center; padding-left: 0.0px">
          <b>Specialty Metals Flat</b>
        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" colspan="6" style="text-align: center; padding-left: 0.0px">
          <b>Tubular and Pipe</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-bottom: 2.0px; padding-left: 0.0px">

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

        </td>
        <td valign="bottom" colspan="7" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; border-bottom-color: black; padding-left: 0.0px">
          <b>Products</b>
        </td>
        <td valign="bottom" style="text-align: center; padding-bottom: 2.0px; padding-left: 0.0px">

        </td>
        <td valign="bottom" colspan="5" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; border-bottom-color: black; padding-left: 0.0px">
          <b>Products</b>
        </td>
        <td valign="top" style="text-align: center; padding-bottom: 2.0px; padding-left: 0.0px">

        </td>
        <td valign="bottom" colspan="6" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; border-bottom-color: black; padding-left: 0.0px">
          <b>Products(1)</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="3" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: center; border-bottom-color: black; padding-left: 0.0px">
          <b>2017</b>
        </td>
        <td>

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

        </td>
        <td valign="bottom" colspan="2" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: center; border-bottom-color: black; padding-left: 0.0px">
          <b>2017</b>
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: center; border-bottom-color: black; padding-left: 0.0px">
          <b>2016</b>
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="3" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: center; border-bottom-color: black; padding-left: 0.0px">
          <b>2017</b>
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: center; border-bottom-color: black; padding-left: 0.0px">
          <b>2016</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-bottom: 2.0px; padding-left: 0.0px">
          Tons sold<sup>1</sup>
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          1,147,750
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          1,026,768
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

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

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          82,285
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          NA
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px">
          Net sales
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          869,628
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          670,983
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          227,200
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          189,930
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          233,868
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          194,203
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px">
          Average selling price per ton
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          758
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          653
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          2,520
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          2,308
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="text-align: right; padding-left: 0.0px">
          NA
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="text-align: right; padding-left: 0.0px">
          NA
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-bottom: 2.0px; padding-left: 0.0px">
          Cost of materials sold<sup>2</sup>
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          693,742
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          529,021
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          194,199
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          160,185
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          167,271
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          130,834
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px">
          Gross profit<sup>3</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          175,886
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          141,962
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          33,001
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          29,745
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          66,597
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          63,369
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-bottom: 2.0px; padding-left: 0.0px">
          Operating expenses<sup>4</sup>
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          158,000
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          146,333
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          21,761
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          19,904
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          62,029
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          55,656
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-bottom: 4.0px; padding-left: 0.0px">
          Operating income (loss)
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          17,886
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          (4,371
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: left; border-bottom-color: black; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          11,240
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          9,841
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          4,568
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          7,713
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px">
          Depreciation and amortization
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          10,906
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          11,690
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          811
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          797
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          5,659
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          5,897
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; font-size: 8pt; font-family: Times New Roman; width: 100%">
      <tr>
        <td valign="top" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          <sup>1</sup>
        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Tonnage is less meaningful for the Tubular and Pipe Products segment
          and therefore, is not reported.
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          <sup>2</sup>
        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Includes $1.2 million, and $2.7 million, of LIFO expense for the
          three and twelve months ended Dec. 31, 2017, respectively; and $0.8
          million, and $1.5 million, of LIFO income for the three and twelve
          months ended Dec. 31, 2016, respectively
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          .
        </td>
      </tr>
      <tr>
        <td valign="top" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          <sup>3</sup>
        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Gross profit is calculated as net sales less the cost of materials
          sold.
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          <sup>4</sup>
        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Operating expenses are calculated as total costs and expenses less
          the cost of materials sold.
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-bottom: 10pt; margin-left: 0pt; margin-right: 0pt; text-indent: 0pt; width: 100%">
      <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 cellspacing="0" style="margin-bottom: 10.0px; font-size: 8pt; font-family: Times New Roman; width: 100%">
      <tr>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="top" colspan="9" style="text-align: center; padding-left: 0.0px">
          <b>Olympic Steel, Inc.</b>
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="9" style="text-align: center; padding-left: 0.0px">
          <b>Segment Financial Information Cont.</b>
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="9" style="text-align: center; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (audited, in thousands, except per-share data)
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="7">
          &#160;
        </td>
      </tr>
      <tr>
        <td rowspan="2">

        </td>
        <td>

        </td>
        <td valign="top" colspan="7" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: center; border-bottom-color: black; padding-left: 0.0px">
          <b>At Dec. 31,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="bottom" colspan="3" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: center; border-bottom-color: black; padding-left: 0.0px">
          <b>2017</b>
        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" colspan="3" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: center; border-bottom-color: black; padding-left: 0.0px">
          <b>2016</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Assets
        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          409,116
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          363,626
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          194,787
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          192,088
        </td>
        <td>

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

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

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          354
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-bottom: 4.0px; padding-left: 0.0px">
          Total assets
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          604,158
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; text-align: right; border-bottom-color: black; padding-left: 0.0px">
          556,068
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="3">
          &#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="text-align: left; padding-left: 10.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u><b>Other Information:</b></u>
          </p>
        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="7" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: center; border-bottom-color: black; padding-left: 0.0px">
          <b>At Dec. 31,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="3" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: center; border-bottom-color: black; padding-left: 0.0px">
          <b>2017</b>
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          24.80
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          23.11
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td valign="bottom" colspan="3" style="text-align: right; padding-left: 0.0px">
          0.66 to 1
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="7" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: center; border-bottom-color: black; padding-left: 0.0px">
          <b>Dec. 31,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="3" style="white-space: nowrap; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; text-align: center; border-bottom-color: black; padding-left: 0.0px">
          <b>2017</b>
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="7">
          &#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="text-align: left; padding-left: 0.0px">
          Net cash (used for) operating activities
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (19,041
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (9,813
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          0.08
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          0.08
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>

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