For the fourth quarter ended March 31, 2010, Lakeside had shipments of 39,916 tons which is a 70 percent improvement over Q4, 2009 as well as a 70 percent improvement over Q3, 2010. Revenue for the quarter is expected to be approximately $43 million which would exceed earlier estimates and would represent an improvement of approximately 60 percent from the previous quarter's revenue of $27 million.
Said Ron Bedard, Lakeside Steel's President and COO, "Lakeside continues to produce high quality, Made in Canada, leading edge technology products required by our customer base in Western Canada, Texas and the Marcellus Shale. Having secured orders out to August 2010, we continue to focus on higher value added products, best in class quality and enhanced customer service. We are cautiously optimistic that this strong operational performance will continue over several quarters. Lakeside continues to focus on reducing costs, improving our balance sheet and potential opportunities for growth."