Ryerson Holding (RYI) 8-K Results of Operations and Financial Condition

Exhibit 99.1

RYERSON HOLDING CORPORATION AND SUBSIDIARY COMPANIES

Selected Income and Cash Flow Data - Unaudited

(Dollars in Millions, except Per Ton Data)

	2011						2010			First Six Months Ended
	Second Quarter			First Quarter			Second Quarter			June 30,
										2011			2010
NET SALES	$	1,289.0		$	1,187.0		$	1,020.2		$	2,476.0		$	1,891.7
Cost of materials sold		1,125.1			1,030.3			887.6			2,155.4			1,625.3
Gross profit		163.9			156.7			132.6			320.6			266.4
Warehousing, delivery, selling, general and administrative		139.8			135.2			127.8			275.0			246.1
Restructuring and other charges		0.6			0.3			—			0.9			—
Gain on insurance settlement		—			—			(2.6	)		—			(2.6	)
Impairment charge on fixed assets		2.5			—			0.5			2.5			1.0
OPERATING PROFIT		21.0			21.2			6.9			42.2			21.9
Other income and (expense), net		(0.6	)		5.7			2.4			5.1			(0.1	)
Interest and other expense on debt		(30.6	)		(29.7	)		(27.3	)		(60.3	)		(52.0	)
LOSS BEFORE INCOME TAXES		(10.2	)		(2.8	)		(18.0	)		(13.0	)		(30.2	)
Provision (benefit) for income taxes		7.8			(1.2	)		3.7			6.6			6.3
NET LOSS		(18.0	)		(1.6	)		(21.7	)		(19.6	)		(36.5	)
Less: Net income (loss) attributable to noncontrolling interest		—			0.1			—			0.1			(0.1	)
NET LOSS ATTRIBUTABLE TO RYERSON HOLDING CORPORATION	$	(18.0	)	$	(1.7	)	$	(21.7	)	$	(19.7	)	$	(36.4	)
Supplemental Data :
Tons shipped (000)		647			645			582			1,292			1,109
Shipping days		64			64			64			128			127
Average selling price/ton	$	1,992		$	1,840		$	1,753		$	1,916		$	1,706
Gross profit/ton		253			243			228			248			240
Operating profit/ton		32			33			12			33			20
LIFO expense/ton		74			52			61			63			43
LIFO expense	$	48.1		$	33.3		$	35.5		$	81.4		$	48.0
Depreciation and amortization expense		11.2			10.4			9.2			21.6			18.3
Cash flow from operating activities		(71.6	)		(103.8	)		(113.0	)		(175.4	)		(164.9	)
Capital expenditures		(12.7	)		(6.4	)		(9.7	)		(19.1	)		(15.0	)

See Schedule 1 for EBITDA and Adjusted EBITDA reconciliation

Schedule 1

RYERSON HOLDING CORPORATION AND SUBSIDIARY COMPANIES

Reconciliation of Net Loss Attributable to Ryerson Holding Corporation to EBITDA

(Dollars in millions)

	2011							2010
	Second Quarter				First Quarter			Second Quarter
Net loss attributable to Ryerson Holding Corporation	$	(18.0	)		$	(1.7	)	$	(21.7	)
Interest and other expense on debt		30.6				29.7			27.3
Provision (benefit) for income taxes		7.8				(1.2	)		3.7
Depreciation and amortization expense		11.2				10.4			9.2
EBITDA	$	31.6			$	37.2		$	18.5
Reorganization		2.6				0.9			0.8
Advisory services fee		1.2				1.3			1.2
Foreign currency transaction (gains) losses		0.2				0.8			(2.7	)
Gain on insurance settlement		—				—			(2.6	)
Impairment charge on fixed assets		2.5				—			0.5
Gain on bargain purchase		0.5				(6.3	)		—
Other adjustments		(0.1	)			(0.2	)		0.3
Adjusted EBITDA	$	38.5			$	33.7		$	16.0
Adjusted EBITDA	$	38.5		��	$	33.7		$	16.0
LIFO expense		48.1				33.3			35.5
Adjusted EBITDA, excluding LIFO expense	$	86.6			$	67.0		$	51.5

Note: EBITDA represents net income before interest and other expense on debt, provision for income taxes, depreciation and amortization. Adjusted EBITDA gives further effect to, among other things, gain on the sale of assets, reorganization expenses and the payment of management fees. We believe that EBITDA and Adjusted EBITDA provide additional information for measuring our performance and are measures frequently used by securities analysts and investors. EBITDA and Adjusted EBITDA do not represent, and should not be used as a substitute for, net income or cash flows from operations as determined in accordance with generally accepted accounting principles, and neither EBITDA nor Adjusted EBITDA is necessarily an indication of whether cash flow will be sufficient to fund our cash requirements. Our definitions of EBITDA and Adjusted EBITDA may differ from that of other companies. Above is the reconciliation of net income to EBITDA, as further adjusted to Adjusted EBITDA and Adjusted EBITDA, excluding LIFO expense.