Cleveland, Ohio-based national flat-rolled steel service center Olympic Steel announced Thursday a net loss of $1.6 million for Q4 2010, compared to a $2.6 million net loss in Q4 2009. For the full year 2010, Olympic Steel recorded a net income of $2.1 million, compared to a $61.2 million net loss in 2009.
Tonnage sold increased 31 percent from 194,000 net tons in Q4 2009 to 254,000 net tons last quarter. For the full year 2010, the company sold 969,000 net tons, 34.3 percent higher than the 721,000 net tons sold in 2009.