Lakeside revenues jump 130 percent

There has been a remarkable turnaround at Welland-based Lakeside Steel.

Figures released by the company Monday show revenues in the fiscal year ended March 31st have increased by 130 percent over a year ago to just over 240-million dollars. This represents a record not only for revenue, but tons produced. Earning per share were three cents compared to a loss of 23 cents in the 2010 fiscal year.

It appears the good news for shareholders is continuing during this calendar year. The first three months of 2011 saw revenue of nearly $58 million dollars – up 32 percent over 2010. A stock option plan is being offered to directors, officers and employees of the company.

Marvin Ryder of the DeGroote School of Business joins us to discuss the Lakeside situation.