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 Olympic Steel Reports Improved 2017 Full-Year and Fourth-Quarter Results
   Friday, March 02, 2018 6:05:00 AM ET

--Full-Year 2017 Operating Income of $24 Million, Highest in Six Years

--Company Achieves Record High Market Share in All Three Operating Segments in 2017

Olympic Steel Inc., (ZEUS ), a national metals service center, today announced improved financial results for the full year and three months ended Dec. 31, 2017.

Full-Year 2017 Results

Full-year 2017 net sales climbed 26%, reaching $1.3 billion, compared with $1.1 billion in 2016. Increased year-over-year shipping volume and higher average selling prices throughout 2017 contributed to the net sales increase. Full-year 2017 net income (GAAP) improved to $19.0 million, or $1.67 per diluted share, compared with a net loss of $1.1 million, or $0.10 per share in 2016.

"Demand for metals improved during 2017, driven by stronger GDP growth in the U.S. and abroad," said Chairman and Chief Executive Officer Michael Siegal. "Olympic Steel was, and remains, ideally positioned to support this rebound in U.S. industrial activity. The determined execution by our operations and sales teams resulted in our most profitable year since 2011."

Strong pricing dynamics for metals and healthy demand have continued in early 2018, he added.

"Improving economic conditions have revitalized the U.S. manufacturing sector. Our customers are currently benefiting from recent tax legislation and higher capital equipment spending, and stand to gain further from potential infrastructure investments," Siegal said. "We enter 2018 primed for growth and expect to prosper in this environment. With diversified products and superior customer service, combined with a strong balance sheet and an energized management team, we are poised for continued success."

Fourth-Quarter 2017 Results

Fourth-quarter net sales increased 21% in 2017, to $308 million, which was up from $255 million in the same quarter of 2016. GAAP net income rose to $4.2 million in the fourth quarter of 2017, or $0.37 per diluted share, compared with a net loss of $2.1 million, or $0.19 per share in 2016’s fourth quarter.

In addition to increased shipping volume and higher sales prices, 2017 net income also benefited from a fourth-quarter $6.2 million deferred tax liability revaluation related to the Tax Cuts and Jobs Act. This was partially offset in the 2017 fourth quarter by $2.7 million in LIFO expense, a $1.0 million commercial settlement, and a write-off of $0.2 million in deferred financing expenses related to the Company’s new 5-year $400 million credit facility.

After adjusting for unusual items in 2017, and LIFO income in 2016, the adjusted net loss narrowed to $0.04 per share in 2017’s fourth quarter, compared with an adjusted net loss of $0.23 per share in the same quarter of 2016. Similarly, full-year 2017 adjusted net income increased to $1.18 per diluted share, up from an adjusted loss of $0.18 per share in 2016.

                                                                                                                                                                                                     
                                                                                                                                    Olympic Steel, Inc.
                                                                                                                   Reconciliation of Net Income (Loss) Per Diluted Share
                                                                                                                      to Adjusted Net Income (Loss) Per Diluted Share
                                                                                                               The following table reconciles adjusted net income (loss) per
                                                                                                               diluted share to the most directly comparable GAAP financial
                                                                                                                                         measure:
                                                                                                                                                                                                                                                                                           
                                                                                                         Three Months Ended                                                                                                                Twelve Months Ended
                                                                                                              Dec. 31,                                                                                                                          Dec. 31,
                                                                -----------------------------------------------------------------------------------------------------                     ---------------------------------------------------------------------------------------------------------------------
                                                                              2017                                                         2016                                                                 2017                                                                 2016
                                                                --------------------------------                     ------------------------------------------------                     ------------------------------------------------                     ------------------------------------------------
                                                                                                             (unaudited)                                                                                                             (unaudited)
Net income (loss) per diluted share (GAAP):                                        $  0.37                                              $ (0.19 )                                                            $  1.67                                                              $ (0.10 )
Excluding the following items:
---------------------------------------------------------------
   Tax adjustment on retirement plan                                                     -                                                    -                                                                 0.16                                                                    -
                                                                                      0.54                                                    -                                                                 0.54                                                                    -
   Deferred tax liability adjustment from Tax Cuts and Jobs Act
   LIFO (expense) income                                                             (0.07 )                                               0.04                                                                (0.15 )                                                               0.08
   Commercial settlement cost                                                        (0.06 )                                                  -                                                                (0.06 )                                                                  -
   Deferred financing fee write-off                               (0.01 )                               -                          (0.01 )                                               -  
                                                                -------------------- ----- ----                      -------------------- ----- --------------------                      -------------------- ----- --------------------                      -------------------- ----- --------------------
Adjusted net income (loss) per diluted share (non-GAAP):                           $ (0.04 )                                            $ (0.23 )                                                            $  1.18                                           $ (0.18 )
                                                                ==================== ===== ====                      ==================== ===== ====================                      ==================== ===== ====================                      ==================== ===== ====================
                                                                                                                                                                                                                                                                                           

Conference Call and Webcast

A simulcast of Olympic Steel’s 2017 fourth-quarter and full-year earnings conference call can be accessed via the Investor Relations section of the Company’s website at www.olysteel.com. The simulcast will begin at 10 a.m. EST on March 2, and a replay of the call will be available for approximately 14 days thereafter.

Forward-Looking Statements

It is the Company’s policy not to endorse any analyst’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 "may," "will," "anticipate," "should," "intend," "expect," "believe," "estimate," "project," "plan," "potential," and "continue," as well as the negative of these terms or similar expressions. Such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those implied by such statements. Readers are cautioned not to place undue reliance on these forward-looking statements. Such risks and uncertainties include, but are not limited to: general and global business, economic, financial and political conditions; competitive factors such as the availability, global production levels and pricing of metals, industry shipping and inventory levels and rapid fluctuations in customer demand and metals pricing; cyclicality and volatility within the metals industry; fluctuations in the value of the U.S. dollar and the related impact on foreign steel pricing, U.S. exports, and foreign imports to the United States; the levels of imported steel in the United States and any associated and threatened tariffs and duties; the availability and rising costs of transportation and logistical services; the successes of our efforts and initiatives to increase sales and earnings, maintain or improve working capital turnover and free cash flows, improve our customer service, and achieve cost savings; our ability to generate free cash flow through operations and repay debt within anticipated time frames; events or circumstances that could impair or adversely impact the carrying value of any of our assets; risks and uncertainties associated with intangible assets, including additional impairment charges related to indefinite lived intangible assets; events or circumstances that could adversely impact the successful operation of our processing equipment and operations; the amounts, successes and our ability to continue our capital investments and strategic growth initiatives, including acquisitions and our business information system implementations; the successes of our operational initiatives to improve our operating, cultural and management systems and reduce our costs; the ability to comply with the terms of our asset-based credit facility; the ability of our customers and third parties to honor their agreements related to derivative instruments; customer, supplier and competitor consolidation, bankruptcy or insolvency; reduced production schedules, layoffs or work stoppages by our own, our suppliers’ or customers’ personnel; the impacts of union organizing activities and the success of union contract renewals; the timing and outcomes of inventory lower of cost or market adjustments and last-in, first-out, or LIFO, income or expense; the ability of our customers (especially those that may be highly leveraged, and those with inadequate liquidity) to maintain their credit availability; the inflation or deflation existing within the metals industry, as well as our product mix and inventory levels on hand, which can impact our cost of materials sold as a result of the fluctuations in the LIFO inventory valuation; the adequacy of our existing information technology and business system software, including duplication and security processes; the adequacy of our efforts to mitigate cyber security risks and threats; access to capital and global credit markets; our ability to pay regular quarterly cash dividends and the amounts and timing of any future dividends; our ability to repurchase shares of our common stock and the amounts and timing of repurchases, if any; unanticipated developments that could occur with respect to contingencies such as litigation, arbitration and environmental matters, including any developments that would require any increase in our costs for such contingencies; and changes in laws or regulations or the manner of their interpretation or enforcement could impact our financial performance and restrict our ability to operate our business or execute our strategies.

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’s view of the Company’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’ 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.

About Olympic Steel

Founded in 1954, Olympic Steel is a leading U.S. metals service center focused on the direct sale and distribution of large volumes of processed carbon, coated and stainless flat-rolled sheet, coil and plate steel and aluminum products. The Company’s CTI subsidiary is a leading distributor of steel tubing, bar, pipe, valves and fittings, and fabricates pressure parts for the electric utility industry. Headquartered in Cleveland, Ohio, Olympic Steel operates from 30 facilities in North America.

For additional information, please visit the Company’s website at www.olysteel.com or http://ir.olysteel.com/Contact_Us?BzID=2195

-Financial Tables Follow-

                                                                                                                                                                                                
                                                                                                                                                                                  Olympic Steel, Inc.
                                                                                                                                                                         Consolidated Statements of Operations
                                                                                                                                                                         (in thousands, except per-share data)
                                                                                                                                                                                                                                                           
                                                                                                                                      Three Months Ended Dec. 31,                                                                                                                                         Twelve Months Ended Dec. 31,
                                                                                       -------------------------------------------------------------------------------------------------------------------------                                          -----------------------------------------------------------------------------------------------------------------------------
                                                                                                              2017                                                2015                                                                                         2017                                                  2016
                                                                                       --------------------------------------------------                     --------------------------------------------------                                          ----------------------------------------------------                     ----------------------------------------------------
                                                                                                                                              (unaudited)                                                                                                                                                           (audited)
Net sales                                                                                                 $ 308,166                                                              $ 254,904                                                                                   $ 1,330,696                                                              $ 1,055,116
                                                                                                                                                                                                                                                                                                                                    
Costs and expenses
                                                                                                            248,366                                                                203,494                                                                                     1,055,212                                                                  820,040
   Cost of materials sold (excludes items shown separately below)
   Warehouse and processing                                                                                  21,555                                                                 17,960                                                                                        87,425                                                                   79,521
   Administrative and general                                                                                16,960                                                                 15,001                                                                                        69,659                                                                   63,054
   Distribution                                                                                              10,282                                                                  8,728                                                                                        41,789                                                                   36,490
   Selling                                                                                                    6,481                                                                  5,699                                                                                        26,285                                                                   23,060
   Occupancy                                                                                                  2,211                                                                  2,088                                                                                         8,862                                                                    8,718
   Depreciation                                                                                               4,073                                                                  4,365                                                                                        16,589                                                                   17,596
   Amortization                                                                              222                              222                                                     889                                889  
                                                                                       -------------------- ------- --------------------                      -------------------- ------- --------------------                                           -------------------- --------- --------------------                      -------------------- --------- --------------------
                                                                                                                                                                                                                                                                                                                                    
      Total costs and expenses                                                           310,150                          257,557                                               1,306,710                          1,049,368  
                                                                                       -------------------- ------- --------------------                      -------------------- ------- --------------------                                           -------------------- --------- --------------------                      -------------------- --------- --------------------
                                                                                                                                                                                                                                                                                                                                    
   Operating income (loss)                                                                                   (1,984 )                                                               (2,653 )                                                                                      23,986                                                                    5,748
                                                                                                                                                                                                                                                                                                                                    
Other income (loss), net                                                                     (42 )                                               (13 )                                                                     (118 )                                                 (55 )
                                                                                       -------------------- ------- --------------------                      -------------------- ------- --------------------                                           -------------------- --------- --------------------                      -------------------- --------- --------------------
                                                                                                                                                                                                                                                                                                                                    
                                                                                                             (2,026 )                                                               (2,666 )                                                                                      23,868                                                                    5,693
   Income (loss) before interest and income taxes
Interest and other expense on debt                                                         2,138                            1,378                                                   7,518                              5,273  
                                                                                       -------------------- ------- --------------------                      -------------------- ------- --------------------                                           -------------------- --------- --------------------                      -------------------- --------- --------------------
   Income (loss) before income taxes                                                                         (4,164 )                                                               (4,044 )                                                                                      16,350                                                                      420
Income tax provision (benefit)                                                            (8,351 )                                            (1,940 )                                                                   (2,613 )                                               1,498  
                                                                                       -------------------- ------- --------------------                      -------------------- ------- --------------------                                           -------------------- --------- --------------------                      -------------------- --------- --------------------
                                                                                                                                                                                                                                                                                                                                    
Net income (loss)                                                                                         $   4,187                                           $  (2,104 )                                                                                 $    18,963                                           $    (1,078 )
                                                                                       ==================== ======= ====================                      ==================== ======= ====================                                           ==================== ========= ====================                      ==================== ========= ====================
                                                                                                                                                                                                                                                                                                                                    
Earnings per share:
                                                                                                                                                                                                                                                                                                                                    
Net income (loss) per share - basic                                                                       $    0.37                                           $   (0.19 )                                                                                 $      1.67                                           $     (0.10 )
                                                                                       ==================== ======= ====================                      ==================== ======= ====================                                           ==================== ========= ====================                      ==================== ========= ====================
                                                                                                                                                                                                                                                                                                                                    
Weighted average shares outstanding - basic                                               11,389                           11,221                                                  11,381                             11,210  
                                                                                       ==================== ======= ====================                      ==================== ======= ====================                                           ==================== ========= ====================                      ==================== ========= ====================
                                                                                                                                                                                                                                                                                                                                    
Net income (loss) per share - diluted                                                                     $    0.37                                           $   (0.19 )                                                                                 $      1.67                                           $     (0.10 )
                                                                                       ==================== ======= ====================                      ==================== ======= ====================                                           ==================== ========= ====================                      ==================== ========= ====================
                                                                                                                                                                                                                                                                                                                                    
Weighted average shares outstanding - diluted                                             11,391                           11,221                                                  11,381                             11,210  
                                                                                       ==================== ======= ====================                      ==================== ======= ====================                                           ==================== ========= ====================                      ==================== ========= ====================
                                                                                                                                                                                                                                                                                                                                                                   
                                                                  
                                                                                                          Olympic Steel, Inc.
                                                                                                      Consolidated Balance Sheets
                                                                                                            (in thousands)
                                                                                       
                                                                                                                                                         At Dec. 31,
                                                                                      ------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                             2017                                                   2016
                                                                                      ---------------------------------------------------                                          ---------------------------------------------------
                                                                                                                                                          (audited)
                             Assets
                                                                                                                                                                                    
Cash and cash equivalents                                                                                $    3,009                                                                                   $    2,315
Accounts receivable, net                                                                                    132,737                                                                                      101,902
Inventories, net (includes LIFO debit of $5,337 and $8,045 as of                                            275,307                                                                                      254,526
Dec. 31, 2017, and 2016, respectively)
Prepaid expenses and other                                                                                    8,333                                                                                        6,197
Assets held for sale                                                                         750                                                      -  
                                                                                      -------------------- -------- --------------------                                           -------------------- -------- --------------------
     Total current assets                                                                420,136                                                364,940  
                                                                                      -------------------- -------- --------------------                                           -------------------- -------- --------------------
                                                                                                                                                                                    
Property and equipment, at cost                                                                             376,710                                                                                      374,242
Accumulated depreciation                                                                (229,062 )                                                                (218,476 )
                                                                                      -------------------- -------- --------------------                                           -------------------- -------- --------------------
     Net property and equipment                                                          147,648                                                155,766  
                                                                                      -------------------- -------- --------------------                                           -------------------- -------- --------------------
                                                                                                                                                                                    
Intangible assets, net                                                                                       22,980                                                                                       23,869
Other long-term assets                                                                    13,394                                                 11,493  
                                                                                      -------------------- -------- --------------------                                           -------------------- -------- --------------------
     Total assets                                                                                        $  604,158                                                                $  556,068  
                                                                                      ==================== ======== ====================                                           ==================== ======== ====================
                                                                                                                                                                                    
                           Liabilities
                                                                                                                                                                                    
Current portion of long-term debt                                                                        $      930                                                                                   $    1,825
Accounts payable                                                                                             84,034                                                                                       79,458
Accrued payroll                                                                                              11,999                                                                                        8,445
Other accrued liabilities                                                                 14,184                                                 15,170  
                                                                                      -------------------- -------- --------------------                                           -------------------- -------- --------------------
     Total current liabilities                                                           111,147                                                104,898  
                                                                                      -------------------- -------- --------------------                                           -------------------- -------- --------------------
Credit facility revolver                                                                                    196,235                                                                                      164,599
Other long-term liabilities                                                                                  12,048                                                                                       10,062
Deferred income taxes                                                                     12,145                                                 23,119  
                                                                                      -------------------- -------- --------------------                                           -------------------- -------- --------------------
     Total liabilities                                                                   331,575                                                302,678  
                                                                                      -------------------- -------- --------------------                                           -------------------- -------- --------------------
                                                                                                                                                                                    
                      Shareholders’ Equity
                                                                                                                                                                                    
Preferred stock                                                                                                   -                                                                                            -
Common stock                                                                                                129,453                                                                                      128,619
Treasury stock                                                                                                 (337 )                                                                                       (609 )
Retained earnings                                                                        143,467                                                125,380  
                                                                                      -------------------- -------- --------------------                                           -------------------- -------- --------------------
     Total shareholders’ equity                                                          272,583                                                253,390  
                                                                                      -------------------- -------- --------------------                                           -------------------- -------- --------------------
                                                                                                         $  604,158                                                                $  556,068  
     Total liabilities and shareholders’ equity
                                                                                      ==================== ======== ====================                                           ==================== ======== ====================
                                                                                                                                                                                                                  
                               
                                                                                                                                                                                               Olympic Steel, Inc.
                                                                                                                                                                                          Segment Financial Information
                                                                                                                                                                         (In thousands, except tonnage and per-ton data. Figures may not
                                                                                                                                                                             foot to consolidated totals due to Corporate expenses.)
                                                                                                                                                                                                                                                                                                              
                                                                                                                                                                                                                    Three Months Ended Dec. 31:
                                                                                                                                                                                                                            (unaudited)
                                                   ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                            Carbon Flat                                                                                        Specialty Metals Flat                                                                          Tubular and Pipe
                                                                                                             Products                                                                                                                   Products                                                                                                       Products(1)
                                                   -----------------------------------------------------------------------------------------------------------------------------                     -------------------------------------------------------------------------------                     -------------------------------------------------------------------------------------------------------
                                                                           2017                                                  2016                                                         2017                           2016                                                         2017                                       2016
                                                   ----------------------------------------------------                     ----------------------------------------------------                     -----------------------------                     -----------------------------                     --------------------------------------------------                     --------------------------------
Tons sold(1)                                           258,074                            244,938                           21,175                         19,012                                                NA                                                     NA
                                                   -------------------- --------- --------------------                      -------------------- --------- --------------------                      -------------------- -------                      -------------------- -------                      -------------------------------------------------                      --------------------------------
                                                                                                                                                                                                                                                                                                                                                                                 
Net sales                                                             $   199,811                                                              $   167,055                                                              $  53,411                                         $  45,032                                         $  54,944                                                              $     42,817
Average selling price per ton                                                 774                                                                      682                                                                  2,522                                             2,369                                                NA                                                                        NA
Cost of materials sold(2)                              161,359                            136,979                           45,786                         37,452                         41,221                              29,063
                                                   -------------------- --------- --------------------                      -------------------- --------- --------------------                      -------------------- -------                      -------------------- -------                      -------------------- ------- --------------------                      -------------------- ----------
Gross profit(3)                                                            38,452                                                                   30,076                                                                  7,625                                             7,580                                            13,723                                                                    13,754
Operating expenses(4)                                   38,878                             34,327                            5,303                          5,065                         15,594                              13,189
                                                   -------------------- --------- --------------------                      -------------------- --------- --------------------                      -------------------- -------                      -------------------- -------                      -------------------- ------- --------------------                      -------------------- ----------
Operating income (loss)                                               $      (426 )                                                            $    (4,251 )                                                            $   2,322                                         $   2,515                                         $  (1,871 )                                                            $        565
                                                   ==================== ========= ====================                      ==================== ========= ====================                      ==================== =======                      ==================== =======                      ==================== ======= ====================                      ==================== ==========
                                                                                                                                                                                                                                                                                                                                                                                 
Depreciation and Amortization                                               2,619                                                                    2,953                                                                    202                                               211                                             1,448                                                                     1,398
                                                                                                                                                                                                                                                                                                              
                                                                                                                                                                                                                                                                                                              
                                                                                                                                                                                                                   Twelve Months Ended Dec. 31:
                                                                                                                                                                                                                             (audited)
                                                   ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                            Carbon Flat                                                                                                           Specialty Metals Flat                                                                                             Tubular and Pipe
                                                                                                             Products                                                                                                                   Products                                                                                                       Products(1)
                                                   -----------------------------------------------------------------------------------------------------------------------------                     -------------------------------------------------------------------------------                     -------------------------------------------------------------------------------------------------------
                                                                           2017                                                                     2016                                                         2017                                              2016                                                         2017                                                          2016
                                                   ----------------------------------------------------                     ----------------------------------------------------                     -----------------------------                     -----------------------------                     --------------------------------------------------                     --------------------------------
Tons sold(1)                                         1,147,750                          1,026,768                           90,160                         82,285                                                NA                                                     NA
                                                   -------------------- --------- --------------------                      -------------------- --------- --------------------                      -------------------- -------                      -------------------- -------                      -------------------------------------------------                      --------------------------------
                                                                                                                                                                                                                                                                                                                                                                                 
Net sales                                                             $   869,628                                                              $   670,983                                                              $ 227,200                                         $ 189,930                                         $ 233,868                                                              $    194,203
Average selling price per ton                                                 758                                                                      653                                                                  2,520                                             2,308                                                NA                                                                        NA
Cost of materials sold(2)                              693,742                            529,021                          194,199                        160,185                        167,271                             130,834
                                                   -------------------- --------- --------------------                      -------------------- --------- --------------------                      -------------------- -------                      -------------------- -------                      -------------------- ------- --------------------                      -------------------- ----------
Gross profit(3)                                                           175,886                                                                  141,962                                                                 33,001                                            29,745                                            66,597                                                                    63,369
Operating expenses(4)                                  158,000                            146,333                           21,761                         19,904                         62,029                              55,656
                                                   -------------------- --------- --------------------                      -------------------- --------- --------------------                      -------------------- -------                      -------------------- -------                      -------------------- ------- --------------------                      -------------------- ----------
Operating income (loss)                                               $    17,886                                           $    (4,371 )                                                            $  11,240                                         $   9,841                                         $   4,568                                           $      7,713
                                                   ==================== ========= ====================                      ==================== ========= ====================                      ==================== =======                      ==================== =======                      ==================== ======= ====================                      ==================== ==========
                                                                                                                                                                                                                                                                                                                                                                                 
Depreciation and amortization                                              10,906                                                                   11,690                                                                    811                                               797                                             5,659                                                                     5,897
                                                                                                                                                                                                                                                                                                                                                                                 
(1)   Tonnage is less meaningful for the Tubular and Pipe Products segment
                         and therefore, is not reported.
(2)                      Includes $1.2 million, and $2.7 million, of LIFO expense for the                        .
                         three and twelve months ended Dec. 31, 2017, respectively; and $0.8
                         million, and $1.5 million, of LIFO income for the three and twelve
                         months ended Dec. 31, 2016, respectively
(3)                      Gross profit is calculated as net sales less the cost of materials
                         sold.
(4)                      Operating expenses are calculated as total costs and expenses less
                         the cost of materials sold.
                                                                                               
                                          
                                                                           Olympic Steel, Inc.
                                                                   Segment Financial Information Cont.
                                                             (audited, in thousands, except per-share data)
                                                               
                                                                                                              At Dec. 31,
                                                              ----------------------------------------------------------------------------------------------------------
                                                                2017                                        2016
                                         --------------------------------------------------                     -----------------------------------
Assets
   Flat products                                                                 $ 409,116                                               $ 363,626
   Tubular and pipe products                                                       194,787                                                 192,088
   Corporate                                                        255               354  
                                                              -------------------- ------- --------------------       -------------------- ------- --------------------
Total assets                                                                     $ 604,158                            $ 556,068  
                                                              ==================== ======= ====================       ==================== ======= ====================
                                                                                                                       
                                                                                                                       
  Other Information:
----------------------------------------
                                                                                                              At Dec. 31,
                                                              ----------------------------------------------------------------------------------------------------------
                                                                                     2017                                                    2016
                                                              --------------------------------------------------      --------------------------------------------------
                                                                                                                       
Shareholders’ equity per share                                                   $   24.80                                               $   23.11
                                                                                                                       
Debt-to-equity ratio                                                                                  0.72 to 1                                               0.66 to 1
                                                                                                                       
                                                                                                                       
                                                                                                          Twelve Months Ended
                                                                                                               Dec. 31,
                                                              ----------------------------------------------------------------------------------------------------------
                                                                                     2017                                                    2016
                                                              --------------------------------------------------      --------------------------------------------------
                                                               
                                                                                                                       
Net cash (used for) operating activities                                         $ (19,041 )                                             $  (9,813 )
                                                                                                                       
Cash dividends per share                                                         $    0.08                                               $    0.08
                                                                                                                       

http://cts.businesswire.com/ct/CT?id=bwnews&sty=20180302005043r1&sid=cmtx6&distro=nx&lang=en

View source version on businesswire.com: http://www.businesswire.com/news/home/20180302005043/en/

SOURCE: Olympic Steel Inc."> <Property FormalName="PrimaryTwitterHandle" Value="@Olympic_Steel

IR Contact: 
Olympic Steel Investor Relations 
Matthew J. Dennis, CFA, 216-672-0522


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