<SEC-DOCUMENT>0001157523-19-000355.txt : 20190215
<SEC-HEADER>0001157523-19-000355.hdr.sgml : 20190215
<ACCEPTANCE-DATETIME>20190215063052
ACCESSION NUMBER:		0001157523-19-000355
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20190215
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20190215
DATE AS OF CHANGE:		20190215

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:		19609801

	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>a51940884.htm
<DESCRIPTION>OLYMPIC STEEL, INC. 8-K
<TEXT>
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    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 18pt"><b>UNITED
      STATES</b></font><b><font style="font-family: Times New Roman; font-size: 18pt"><br style="font-size: 18pt; font-family: Times New Roman"></font><font style="font-family: Times New Roman; font-size: 18pt">SECURITIES
      AND EXCHANGE COMMISSION</font></b><br><font style="font-family: Times New Roman; font-size: 10pt"><b>Washington,
      D.C. 20549</b></font><br><font style="font-family: Times New Roman">______________</font><br>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 18pt"><b>FORM 8-K</b></font>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman"><b>______________</b></font><br>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 12pt"><b>CURRENT
      REPORT </b></font><br><font style="font-family: Times New Roman; font-size: 12pt"><b>Pursuant
      to Section 13 or 15(d) of </b></font><br><font style="font-family: Times New Roman; font-size: 12pt"><b>The
      Securities Exchange Act of 1934</b></font>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 10pt">Date of
      Report&#160;(Date of earliest event reported): &#160;</font><font style="font-family: Times New Roman; font-size: 10pt"><b>February
      15, 2019</b></font><font style="font-family: Times New Roman; font-size: 10pt"><br style="font-size: 10pt; font-family: Times New Roman"></font><br><font style="font-family: Times New Roman"><b>______________</b></font><br>
    </p>
    <p style="text-align: center">
      <font style="font-size: 18pt"><b>Olympic Steel, Inc.</b></font><br><font style="font-family: Times New Roman; font-size: 10pt">(Exact
      name of registrant as specified in its charter)</font><br><br>
    </p>
<div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; font-family: Times New Roman; font-size: 10pt; width: 100%">
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center; width: 33%">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Ohio</b>
          </p>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: center; white-space: nowrap; width: 34%">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>000-23320</b>
          </p>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: center; white-space: nowrap; width: 33%">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>34-1245650</b>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center; width: 33%">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (State or other jurisdiction
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            of incorporation)
          </p>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center; width: 34%">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (Commission&#160;File Number)
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center; width: 33%">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (IRS Employer&#160;Identification No.)
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; font-family: Times New Roman; font-size: 10pt; width: 100%">
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center; width: 50%">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>5096 Richmond Road, Bedford Heights, Ohio</b>
          </p>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: center; white-space: nowrap; width: 50%">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>44146</b>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center; width: 50%">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-family: Times New Roman; font-size: 10pt">(Address
            of principal executive offices)</font>
          </p>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center; width: 50%">
          <font style="font-family: Times New Roman; font-size: 10pt">(Zip
          Code)</font>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 10pt">Registrant&#8217;s
      telephone number, including area code:&#160;&#160;&#160;</font><b>(216)
      292-3800</b>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 10pt"><br style="font-family: Times New Roman; font-size: 10pt">
      </font>
    </p>
    <p style="text-align: center">
      ________________________________________________________________________________<br><font style="font-family: Times New Roman; font-size: 10pt">(Former
      name or former address, if changed since last report)</font>
    </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 style="margin-left: 30.0px; font-size: 10pt">
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)</font>
    </p>
    <p style="margin-left: 30.0px; font-size: 10pt">
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)</font>
    </p>
    <p style="margin-left: 30.0px; font-size: 10pt">
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</font>
    </p>
    <p style="margin-left: 30.0px; font-size: 10pt">
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))</font>
    </p>
    <p style="margin-left: 30.0px; font-size: 10pt">

    </p>
    <p>
      <font style="font-family: Times New Roman; font-size: 10pt">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).</font>
    </p>
    <p>
      Emerging growth company<font style="font-family: Arial Unicode MS; font-size: 10pt">&#160;</font>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
    </p>
    <p>
      <font style="font-family: Times New Roman; font-size: 10pt">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.</font> <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
    </p>
    <p>

    </p>
    <div style="margin-right: 0pt; margin-bottom: 10pt; margin-left: 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>
      <b>Item 2.02. Results of Operations and Financial Condition.</b>
    </p>
    <p>
      On February 15, 2019, Olympic Steel, Inc. issued a press release
      reporting its operating results for the fourth quarter and twelve months
      of 2018 ended December 31, 2018. 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.
    </p>
    <p>
      <b>Item 9.01. Financial Statements and Exhibits.</b>
    </p>
    <p>

    </p>
    <p>
      (d) Exhibits.
    </p>
    <p>
      <u><b>Exhibit No.</b></u>
    </p>
    <p>
      99.1 Press release dated February 15, 2019.
    </p>
    <div style="margin-right: 0pt; margin-bottom: 10pt; margin-left: 0pt; text-indent: 0pt; width: 100%">
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        <div style="text-align: left">

        </div>
      </div>
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        <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 style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 11pt"><b>SIGNATURE</b></font>
    </p>
    <p style="text-indent: 30.0px; font-size: 10pt">
      <font style="font-family: Times New Roman; font-size: 10pt">Pursuant to
      the requirements of the Securities Exchange Act of 1934, the registrant
      has duly caused this report to be signed on its behalf by the
      undersigned hereunto duly authorized.</font>
    </p>
    <p>

    </p>
    <p>

    </p>
<div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; font-family: Times New Roman; font-size: 10pt; width: 100%">
      <tr>
        <td style="width: 38%">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px; width: 4%">
          &#160;
        </td>
        <td valign="top" style="border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black; text-align: center; border-bottom-style: solid; width: 58%">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Olympic Steel, Inc.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 38%">

        </td>
        <td style="width: 4%">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: center; width: 58%">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (Registrant)
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 38%">

        </td>
        <td style="width: 4%">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left; width: 58%">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black; text-align: center; border-bottom-style: solid; width: 38%">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>February 15, 2019</b>
          </p>
        </td>
        <td style="width: 4%">

        </td>
        <td valign="top" style="border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black; text-align: center; border-bottom-style: solid; width: 58%">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>/s/&#160;&#160; RICHARD A. MANSON</b>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: center; width: 38%">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (Date)
          </p>
        </td>
        <td style="width: 4%">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: center; width: 58%">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Richard A. Manson
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: center; width: 38%">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td style="width: 4%">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: center; width: 58%">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <i>Chief Financial Officer</i>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 38%">

        </td>
        <td style="width: 4%">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: center; width: 58%">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <i>(Principal Financial and Accounting Officer)</i>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <p>

    </p>
    <div style="margin-right: 0pt; margin-bottom: 10pt; margin-left: 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>
<div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; font-family: Times New Roman; font-size: 10pt; width: 100%">
      <tr>
        <td valign="top" style="border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black; text-align: left; border-bottom-style: double">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">
      <u><b>Exhibit Index</b></u>
    </p>
    <p>
      <a href="a51940884ex99_1.htm">99.1 Press Release dated February 15, 2019</a>
    </p>
    <p>

    </p>
    <p>

    </p>
    <p>

    </p>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a51940884ex99_1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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  <head>
    <title></title>
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    <p style="text-align: right">
      <b>Exhibit 99.1</b>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 12pt"><b>Olympic
      Steel Reports Record Fourth-Quarter and Full-Year 2018 Net Sales</b></font>
    </p>
    <p style="text-align: center">
      <i><font style="font-family: Times New Roman; font-size: 12pt"><b>Full-Year
      Net Sales Increased 29%, Versus 2017, to Record-High $1.7 Billion in 2018</b></font></i>
    </p>
    <p style="text-align: center">
      <i><font style="font-family: Times New Roman; font-size: 12pt"><b>Full-Year
      Operating Income Grew 138% to $57 Million in 2018</b></font></i>
    </p>
    <p>
      CLEVELAND--(BUSINESS WIRE)--February 15, 2019--<b>Olympic Steel Inc.
      (Nasdaq: ZEUS)</b>, a leading national metals service center, today
      announced financial results for the three and twelve months ended Dec.
      31, 2018.
    </p>
    <p>
      <b>Full-Year 2018 Results</b>
    </p>
    <p>
      Net sales rose 29% in 2018, reaching $1.7 billion, compared with $1.3
      billion in 2017. Increased year-over-year shipping volume, combined with
      higher average prices in all three of the Company&#8217;s operating segments,
      drove the net sales increase. Operating income more than doubled in
      2018, to $57.1 million, up from $24.0 million in the prior year.
      Full-year 2018 (GAAP) net income improved 78% to $33.8 million, or $2.95
      per diluted share, compared with net income of $19.0 million, or $1.67
      per diluted share in 2017.
    </p>
    <p>
      &#8220;All three operating segments achieved record net sales in 2018,&#8221; said
      Chief Executive Officer Richard T. Marabito. &#8220;Building on the strong
      results generated in 2017, our 2018 results marked the third-most
      profitable year in our Company&#8217;s history.&#8221;
    </p>
    <p>
      In 2018, LIFO expense totaled $8.4 million, or $0.56 per diluted share,
      compared with LIFO expense of $2.7 million, or $0.15 per diluted share,
      in the prior year. In 2017, results were also impacted by a $6.2 million
      deferred tax liability revaluation benefit, partially offset by a $1.0
      million commercial settlement, and a write-off of $0.2 million in
      deferred financing expenses, which were realized in the fourth quarter
      of 2017.
    </p>
    <p>
      &#8220;On Jan. 2, 2019, we announced our acquisition of McCullough Industries.
      This is our first acquisition of a manufacturer of metal-intensive
      branded products,&#8221; Marabito said. &#8220;The vertical downstream advantages of
      the McCullough acquisition and capital expenditures in all three of our
      operating segments in 2018 advance our long-term growth strategy to
      deploy capital for higher financial returns while reducing volatility.
      We continue to seek additional manufacturers of branded products where
      we can deploy our purchasing, logistics and processing expertise to
      achieve synergies.&#8221;
    </p>
    <p>
      <b>Fourth-Quarter 2018 Results</b>
    </p>
    <p>
      The Company achieved record fourth quarter sales of $430 million in
      2018, up 39% from $308 million in sales during the fourth quarter of
      2017. Fourth quarter 2018 operating income totaled $1.8 million,
      compared to an operating loss of $2.0 million in 2017. The current
      quarter results include $3.7 million of LIFO expense. The impacts of
      higher LIFO expense in 2018, and the aforementioned fourth quarter 2017
      tax benefit and other unusual items, resulted in a (GAAP) net loss of
      $1.3 million, or $0.11 per share in 2018, compared to net income of $4.2
      million or $0.37 per share last year. Adjusting for the LIFO expenses in
      both periods, and for the 2017 tax income and other unusual items,
      adjusted (non-GAAP) earnings per share improved to $0.14 in the fourth
      quarter of 2018, versus an adjusted (non-GAAP) net loss per share of
      $0.04 in last year&#8217;s fourth quarter. The table that follows provides a
      reconciliation of non-GAAP measured to measures prepared in accordance
      with GAAP.
    </p>
    <div style="margin-right: 0pt; margin-bottom: 10pt; margin-left: 0pt; text-indent: 0pt; width: 100%">
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        <div style="text-align: left">

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

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

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

        </div>
      </div>
    </div>
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    <table cellspacing="0" style="margin-bottom: 10.0px; font-family: Times New Roman; font-size: 8pt; width: 100%">
      <tr>
        <td>

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

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

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

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

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: center" colspan="17">
          <b>Olympic Steel, Inc.</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: center" colspan="17">
          <b>Reconciliation of Net Income Per Diluted Share to Adjusted Net
          Income Per Diluted Share</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: center" colspan="17">
          <p style="margin-bottom: 0px; margin-top: 0px">
            The following table reconciles adjusted net income per diluted
            share to the most directly comparable
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: center" colspan="17">
          <p style="margin-bottom: 0px; margin-top: 0px">
            GAAP financial measure:
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: center; border-bottom-style: solid; white-space: nowrap" colspan="3">
          2018
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: center; border-bottom-style: solid; white-space: nowrap" colspan="3">
          2018
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: center" colspan="7">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <i>(unaudited)</i>
          </p>
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Net income (loss) per diluted share (GAAP):</b>
          </p>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          <b>$</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          <b>(0.11</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap">
          <b>)</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          <b>$</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          <b>0.37</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          <b>$</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          <b>2.95</b>
        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black; text-align: left; border-bottom-style: solid">
          Excluding the following items:
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 15.0px; text-align: left">
          Tax adjustment on retirement plan
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          (0.25
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          (0.56
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          (0.15
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 15.0px; text-align: left">
          Commercial settlement cost
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          (0.06
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 15.0px; text-align: left; padding-bottom: 2.0px">
          Deferred financing fee write-off
        </td>
        <td>

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

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

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

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: solid; white-space: nowrap">
          (0.01
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: left; border-bottom-style: solid; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left; padding-bottom: 4.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Adjusted net income per diluted share (non-GAAP):</b>
          </p>
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: double; white-space: nowrap">
          <b>$</b>
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: double; white-space: nowrap">
          <b>0.14</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: double; white-space: nowrap">
          <b>$</b>
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: double; white-space: nowrap">
          <b>(0.04</b>
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: left; border-bottom-style: double; white-space: nowrap">
          <b>)</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: double; white-space: nowrap">
          <b>$</b>
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: double; white-space: nowrap">
          <b>3.51</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>
      <b>Conference Call and Webcast</b>
    </p>
    <p>
      A simulcast of Olympic Steel&#8217;s 2018 fourth-quarter and full-year
      earnings conference call can be accessed via the Investor Relations
      section of the Company&#8217;s website at <u>www.olysteel.com</u>. The
      live simulcast will begin at 10 a.m. EST on Feb. 15, and a replay will
      be available for approximately 14 days thereafter.
    </p>
    <div style="margin-right: 0pt; margin-bottom: 10pt; margin-left: 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>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: the recent market fluctuations create risks of falling metals prices
      and inventory devaluation; 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; the levels of imported steel in the United States
      and the tariffs initiated by the U.S. government in 2018 under Section
      232 of the Trade Expansion Act of 1962, as well as any changes to
      tariffs and duties on exported steel, U.S. trade policy and its impact
      on the U.S. manufacturing industry; 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 availability, and increased costs, of
      labor related to tighter employment markets; 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; 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 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; the amounts, successes and our ability to
      continue our capital investments and strategic growth initiatives,
      including acquisitions and our business information system
      implementations; our ability to successfully integrate recent
      acquisitions into our business and risks inherent with the acquisitions
      in the achievement of expected results, including whether the
      acquisition will be accretive and within the expected timeframe; events
      or circumstances that could adversely impact the successful operation of
      our processing equipment and operations; the success of our operational
      initiatives to improve our operating and management systems and reduce
      our costs; the ability of our customers (especially those that may be
      highly leveraged, and those with inadequate liquidity) to maintain their
      credit availability; access to capital and global credit markets; our
      ability to generate free cash flow through operations and repay debt
      within anticipated time frames; the ability to comply with the terms of
      our asset-based credit facility; rising interest rates and their impacts
      on our variable interest rate debt; the effectiveness of our recently
      initiated interest rate swap; the ability of our customers and third
      parties to honor their agreements related to derivative instruments; the
      impacts of union organizing activities and the success of union contract
      renewals; 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;
      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 impairment charges related to
      indefinite lived intangible assets; the timing and outcomes of inventory
      lower of cost or market adjustments and last-in, first-out, or LIFO,
      income or expense; the inflation or deflation existing within the metals
      industry, as well as 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; 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; and unanticipated developments that could
      occur with respect to contingencies such as litigation, arbitration and
      environmental matters, including any developments that would require any
      increase in our costs for such contingencies.
    </p>
    <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>
    <div style="margin-right: 0pt; margin-bottom: 10pt; margin-left: 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>About Olympic Steel</b>
    </p>
    <p>
      Founded in 1954, Olympic Steel is a leading U.S. metals service center
      focused on the direct sale of processed carbon, coated and stainless
      flat-rolled sheet, coil and plate steel, aluminum, tin plate, and
      metal-intensive branded 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 32
      facilities in North America.
    </p>
    <p>
      For additional information, please visit the Company&#8217;s website at <u>www.olysteel.com</u>
      or <u>https://olysteel.irpass.com/Contact_Us?BzID=2195</u>
    </p>
    <div style="margin-right: 0pt; margin-bottom: 10pt; margin-left: 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-family: Times New Roman; font-size: 8pt; width: 100%">
      <tr>
        <td>

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

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

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: center" colspan="17">
          <b>Olympic Steel, Inc.</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: center" colspan="17">
          <b>Consolidated Statements of Comprehensive Income</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: center" colspan="17">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (in thousands, except per-share data)
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: center; border-bottom-style: solid; white-space: nowrap" colspan="3">
          <b>2018</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center; padding-bottom: 2.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: center; border-bottom-style: solid; white-space: nowrap" colspan="3">
          <b>2017</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: center; border-bottom-style: solid; white-space: nowrap" colspan="3">
          <b>2018</b>
        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: center; border-bottom-style: solid; white-space: nowrap" colspan="3">
          <b>2017</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="7">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          <b>Net sales</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          <b>$</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          <b>429,590</b>
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          <b>$</b>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          <b>1,715,081</b>
        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          356,754
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          1,372,954
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          24,986
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          97,565
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          19,515
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          81,107
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          12,270
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          50,347
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          7,312
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          29,020
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          2,228
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          9,428
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          4,504
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          16,645
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: solid; white-space: nowrap">
          247
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

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

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: solid; white-space: nowrap">
          963
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: solid; white-space: nowrap">
          427,816
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

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

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: solid; white-space: nowrap">
          1,658,029
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          <b>57,052</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

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

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

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: solid; white-space: nowrap">
          (307
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: left; border-bottom-style: solid; white-space: nowrap">
          )
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Income (loss) before interest and income taxes
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          1,589
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          56,745
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Interest and other expense on debt
          </p>
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: solid; white-space: nowrap">
          3,101
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

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

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: solid; white-space: nowrap">
          10,681
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: solid; white-space: nowrap">
          7,518
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 15.0px; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Income (loss) before income taxes
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          (1,512
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          46,064
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: solid; white-space: nowrap">
          (196
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: left; border-bottom-style: solid; white-space: nowrap">
          )
        </td>
        <td>

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

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: solid; white-space: nowrap">
          12,305
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: double; white-space: nowrap">
          <b>$</b>
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: double; white-space: nowrap">
          <b>(1,316</b>
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: left; border-bottom-style: double; white-space: nowrap">
          <b>)</b>
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: double; white-space: nowrap">
          <b>$</b>
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: double; white-space: nowrap">
          <b>33,759</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 15.0px; text-align: left; padding-bottom: 4.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Net income (loss) per share - basic
          </p>
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: double; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: double; white-space: nowrap">
          (0.11
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: left; border-bottom-style: double; white-space: nowrap">
          )
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: double; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: double; white-space: nowrap">
          2.95
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: double; white-space: nowrap">
          11,444
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

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

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: double; white-space: nowrap">
          11,432
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: double; white-space: nowrap">
          <b>$</b>
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: double; white-space: nowrap">
          <b>(0.11</b>
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: left; border-bottom-style: double; white-space: nowrap">
          <b>)</b>
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: double; white-space: nowrap">
          <b>$</b>
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: double; white-space: nowrap">
          <b>2.95</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: double; white-space: nowrap">
          11,444
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

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

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: double; white-space: nowrap">
          11,440
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

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

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: center" colspan="9">
          <b>Olympic Steel, Inc.</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: center" colspan="9">
          <b>Consolidated Balance Sheets</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: center" colspan="9">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (in thousands)
          </p>
        </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" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: center; border-bottom-style: solid; white-space: nowrap" colspan="3">
          <b>At Dec. 31, 2018</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: center; border-bottom-style: solid; white-space: nowrap" colspan="3">
          <b>At Dec. 31, 2017</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          9,319
        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          175,252
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Inventories, net (includes LIFO credit of $3,071 as of Dec. 31,
            2018 and LIFO debit of $5,337 as of Dec. 31, 2017)
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          368,738
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          9,460
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

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

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: solid; white-space: nowrap">
          750
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 25.0px; text-align: left; padding-bottom: 2.0px">
          Total current assets
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: solid; white-space: nowrap">
          562,769
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          403,785
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: solid; white-space: nowrap">
          (244,176
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: left; border-bottom-style: solid; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: solid; white-space: nowrap">
          (229,062
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: left; border-bottom-style: solid; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 25.0px; text-align: left; padding-bottom: 2.0px">
          Net property and equipment
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: solid; white-space: nowrap">
          159,609
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          27,272
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: solid; white-space: nowrap">
          11,090
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: solid; white-space: nowrap">
          13,394
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 25.0px; text-align: left; padding-bottom: 4.0px">
          <b>Total assets</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: double; white-space: nowrap">
          <b>$</b>
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: double; white-space: nowrap">
          <b>760,740</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          95,367
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          19,665
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: solid; white-space: nowrap">
          13,395
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: solid; white-space: nowrap">
          14,184
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 25.0px; text-align: left; padding-bottom: 2.0px">
          Total current liabilities
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: solid; white-space: nowrap">
          128,427
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          302,530
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          9,327
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: solid; white-space: nowrap">
          13,465
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: solid; white-space: nowrap">
          12,145
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 25.0px; text-align: left; padding-bottom: 2.0px">
          <b>Total liabilities</b>
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: solid; white-space: nowrap">
          <b>453,749</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          130,778
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          (337
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px">
          Retained earnings
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: solid; white-space: nowrap">
          176,345
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: solid; white-space: nowrap">
          143,467
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 25.0px; text-align: left; padding-bottom: 2.0px">
          <b>Total shareholders' equity</b>
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: solid; white-space: nowrap">
          <b>306,991</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: solid; white-space: nowrap">
          <b>272,583</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 25.0px; text-align: left; padding-bottom: 4.0px">
          <b>Total liabilities and shareholders' equity</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: double; white-space: nowrap">
          <b>$</b>
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: double; white-space: nowrap">
          <b>760,740</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-right: 0pt; margin-bottom: 10pt; margin-left: 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-family: Times New Roman; font-size: 8pt; width: 100%">
      <tr>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="20">

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: center" colspan="23">
          <b>Olympic Steel, Inc.</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: center" colspan="23">
          <b>Segment Financial Information</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: center" colspan="23">
          <p style="margin-bottom: 0px; margin-top: 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 colspan="2">

        </td>
        <td>

        </td>
        <td colspan="20">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td valign="top" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: center; border-bottom-style: solid; white-space: nowrap" colspan="20">
          <b>Three Months Ended Dec. 31:</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: center" colspan="2">

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: center; white-space: nowrap" colspan="6">
          <b>Carbon Flat</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: center; white-space: nowrap" colspan="5">
          <b>Specialty Metals Flat</b>
        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: center">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: center; white-space: nowrap" colspan="7">
          <b>Tubular and Pipe</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: center; padding-bottom: 2.0px" colspan="2">

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

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black; text-align: center; border-bottom-style: solid" colspan="6">
          <b>Products</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center; padding-bottom: 2.0px">

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

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: center; border-bottom-style: solid; white-space: nowrap" colspan="7">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Products<sup>1</sup></b>
          </p>
        </td>
      </tr>
      <tr>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: center; border-bottom-style: solid; white-space: nowrap" colspan="2">
          <b>2018</b>
        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: center; border-bottom-style: solid; white-space: nowrap" colspan="3">
          <b>2017</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: center; border-bottom-style: solid; white-space: nowrap" colspan="2">
          <b>2018</b>
        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: center; border-bottom-style: solid; white-space: nowrap" colspan="2">
          <b>2017</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: center; border-bottom-style: solid; white-space: nowrap" colspan="3">
          <b>2018</b>
        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: center; border-bottom-style: solid; white-space: nowrap" colspan="3">
          <b>2017</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px" colspan="2">
          Tons sold<sup>1</sup>
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: solid; white-space: nowrap">
          259,181
        </td>
        <td>

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

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: solid; white-space: nowrap">
          35,312
        </td>
        <td>

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

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

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: solid" colspan="3">
          NA
        </td>
      </tr>
      <tr>
        <td colspan="2">

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px" colspan="2">
          Net sales
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          270,297
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          88,442
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          70,851
        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px" colspan="2">
          Average selling price per ton
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          1,043
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          2,505
        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right" colspan="3">
          NA
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px" colspan="2">
          Cost of materials sold<sup>2</sup>
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: solid; white-space: nowrap">
          223,616
        </td>
        <td>

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

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: solid; white-space: nowrap">
          77,827
        </td>
        <td>

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

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: solid; white-space: nowrap">
          55,311
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: solid; white-space: nowrap">
          41,221
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px" colspan="2">
          Gross profit<sup>3</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          46,681
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          10,615
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          15,540
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px" colspan="2">
          Operating expenses<sup>4</sup>
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: solid; white-space: nowrap">
          43,228
        </td>
        <td>

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

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: solid; white-space: nowrap">
          8,860
        </td>
        <td>

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

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: solid; white-space: nowrap">
          15,937
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: solid; white-space: nowrap">
          15,594
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px" colspan="2">
          Operating income (loss)
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: double; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: double; white-space: nowrap">
          3,453
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: double; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: double; white-space: nowrap">
          1,755
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: double; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: double; white-space: nowrap">
          (397
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: left; border-bottom-style: double; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: double; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: double; white-space: nowrap">
          (1,871
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: left; border-bottom-style: double; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td colspan="2">

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px" colspan="2">
          Depreciation and amortization
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          2,956
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          371
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          1,364
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="top" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: center; border-bottom-style: solid; white-space: nowrap" colspan="20">
          <b>Twelve Months Ended Dec. 31:</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px" colspan="2">

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

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

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: center; white-space: nowrap" colspan="7">
          <b>Tubular and Pipe</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; padding-bottom: 2.0px" colspan="2">

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

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black; text-align: center; border-bottom-style: solid" colspan="6">
          <b>Products</b>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center; padding-bottom: 2.0px">

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

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: center; border-bottom-style: solid; white-space: nowrap" colspan="7">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Products<sup>1</sup></b>
          </p>
        </td>
      </tr>
      <tr>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: center; border-bottom-style: solid; white-space: nowrap" colspan="2">
          <b>2018</b>
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: center; border-bottom-style: solid; white-space: nowrap" colspan="2">
          <b>2018</b>
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: center; border-bottom-style: solid; white-space: nowrap" colspan="3">
          <b>2018</b>
        </td>
        <td>

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

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: solid; white-space: nowrap">
          1,142,371
        </td>
        <td>

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

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: solid; white-space: nowrap">
          135,587
        </td>
        <td>

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

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

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: solid" colspan="3">
          NA
        </td>
      </tr>
      <tr>
        <td colspan="2">

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px" colspan="2">
          Net sales
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          1,073,292
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          343,479
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          298,310
        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px" colspan="2">
          Average selling price per ton
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          940
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          2,533
        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right" colspan="3">
          NA
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px" colspan="2">
          Cost of materials sold<sup>2</sup>
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: solid; white-space: nowrap">
          855,942
        </td>
        <td>

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

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: solid; white-space: nowrap">
          294,553
        </td>
        <td>

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

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: solid; white-space: nowrap">
          222,459
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: solid; white-space: nowrap">
          167,271
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px" colspan="2">
          Gross profit<sup>3</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          217,350
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          48,926
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          75,851
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px" colspan="2">
          Operating expenses<sup>4</sup>
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: solid; white-space: nowrap">
          172,996
        </td>
        <td>

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

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: solid; white-space: nowrap">
          33,678
        </td>
        <td>

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

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: solid; white-space: nowrap">
          64,331
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: solid; white-space: nowrap">
          62,029
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px" colspan="2">
          Operating income
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: double; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: double; white-space: nowrap">
          44,354
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: double; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: double; white-space: nowrap">
          15,248
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: double; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: double; white-space: nowrap">
          11,520
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: double; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: double; white-space: nowrap">
          4,568
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="2">

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px" colspan="2">
          Depreciation and amortization
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          10,621
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          1,251
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          5,601
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; font-family: Times New Roman; font-size: 8pt; width: 100%">
      <tr>
        <td valign="top" style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <sup><i>1</i></sup>
          </p>
        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          &#160;
        </td>
        <td valign="top" style="padding-left: 5.0px; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <i>Tonnage is less meaningful for the Tubular and Pipe Products
            segment and therefore, is not reported.</i>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <sup><i>2</i></sup>
          </p>
        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="top" style="padding-left: 5.0px; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <i>Includes LIFO expense for the Tubular and Pipe Products segment
            of $3.7 million, and $8.4 million, for the three and twelve months
            ended Dec. 31, 2018; and $1.2 million, and $2.7 million for the
            three and twelve months ended Dec. 31, 2017.</i>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <sup><i>3</i></sup>
          </p>
        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="top" style="padding-left: 5.0px; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <i>Gross profit is calculated as net sales less the cost of
            materials sold.</i>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <sup><i>4</i></sup>
          </p>
        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">

        </td>
        <td valign="top" style="padding-left: 5.0px; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <i>Operating expenses are calculated as total costs and expenses
            less the cost of materials sold.</i>
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

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

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

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td rowspan="2">

        </td>
        <td rowspan="2">

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

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: center; border-bottom-style: solid; white-space: nowrap" colspan="3">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>At Dec. 31,</b><br><b>2018</b>
          </p>
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: center; border-bottom-style: solid; white-space: nowrap" colspan="3">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>At Dec. 31,</b><br><b>2017</b>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Assets
        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          560,116
        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          200,016
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: solid; white-space: nowrap">
          608
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: solid; white-space: nowrap">
          255
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left; padding-bottom: 4.0px">
          Total assets
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: double; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: right; border-bottom-style: double; white-space: nowrap">
          760,740
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>Other Information:</b></u>
          </p>
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          (audited, in thousands, except per-share data)
        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: center; border-bottom-style: solid; white-space: nowrap" colspan="3">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>At Dec. 31,</b><br><b>2018</b>
          </p>
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: center; border-bottom-style: solid; white-space: nowrap" colspan="3">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>At Dec. 31,</b><br><b>2017</b>
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          27.89
        </td>
        <td>

        </td>
        <td>

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

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

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

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right" colspan="3">
          0.72 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 valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: center; white-space: nowrap" colspan="7">
          <b>Twelve Months Ended</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; text-align: center; border-bottom-style: solid; white-space: nowrap" colspan="3">
          <b>2018</b>
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Net cash from (used for) operating activities
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap">
          (50,501
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <p>
      CONTACT:<br>Richard A. Manson<br>Chief Financial Officer<br>(216)
      672-0522<br><u>ir@olysteel.com</u>
    </p>
  </body>
</html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
