Company: ZEUS
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001437749-25-024377
Chunk: 17

Company: OLYMPIC STEEL INC
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 8
Chunk 17
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 per share have been calculated based on the weighted average number of shares outstanding as set forth below:

       For the Three Months Ended    For the Six Months Ended  
   June 30,    June 30,  
 (in thousands, except per share data)   2025    2024    2025    2024  
 Weighted average basic shares outstanding   11,742   11,662   11,736   11,663 
 Assumed exercise of stock options and issuance of stock awards   22   -   23   - 
 Weighted average diluted shares outstanding   11,764   11,662   11,759   11,663 
 Net income  $5,237  $7,660  $7,746  $16,357 
 Basic earnings per share  $0.45  $0.66  $0.66  $1.40 
 Diluted earnings per share  $0.45  $0.66  $0.66  $1.40 
 Unvested RSs and RSUs   138   164   138   164 

    14.  Stock Repurchase Program: 

   On  October 2, 2015, the Company announced that its Board of Directors authorized a stock repurchase program of up to 550,000 shares of the Company’s issued and outstanding common stock, which could include open market repurchases, negotiated block transactions, accelerated stock repurchases or open market solicitations for shares, all or some of which  may be effected through Rule 10b5-1 plans. Any of the repurchased shares are held in the Company’s treasury, or canceled and retired as the Board  may determine from time to time. Any repurchases of common stock are subject to the covenants contained in the ABL Credit Facility. Under the ABL Credit Facility, the Company  may repurchase common stock and pay dividends up to $15 million in the aggregate during any trailing twelve months without restrictions. Purchases of common stock or dividend payments in excess of $15 million in the aggregate require the Company to (i) maintain availability in excess of 20.0% of the aggregate revolver commitments ($125.0 million at  June 30, 2025) or (ii) to maintain availability equal