Olympic Steel Inc. Q4 Profit Decreases, But Beats Estimates

(RTTNews) - Olympic Steel Inc. (ZEUS) revealed earnings for fourth quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings came in at $3.89 million, or $0.33 per share. This compares with $7.41 million, or $0.64 per share, last year.

Excluding items, Olympic Steel Inc. reported adjusted earnings of $0.13 per share for the period.

Analysts on average had expected the company to earn $0.02 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period fell 14.4% to $418.78 million from $489.41 million last year.

Olympic Steel Inc. earnings at a glance (GAAP) :

-Earnings: $3.89 Mln. vs. $7.41 Mln. last year. -EPS: $0.33 vs. $0.64 last year. -Revenue: $418.78 Mln vs. $489.41 Mln last year.