Cleveland, Ohio-based metals service center Olympic Steel reported that for Q2 2013, net sales were $330.8 million, a 10 percent decrease from the $367.4 million reported in last year's comparable period. For the first six months of 2013, net sales declined 10.7 percent to $668.9 million, compared with $749.4 million in the first half of 2012.
For Q2 net income totaled $2.5 million, versus net income of $4.5 million, in 2012's comparable quarter. Net income was $7.7 million for the first half of this year, compared with $10.8 million in last year's first half.
Chairman and Chief Executive Officer Michael D. Siegal commented, "The first half of 2013 was characterized by lower sales volume and average selling prices compared with last year."