Lakeside Steel Inc. yesterday reported a loss last quarter, but predicted an improvement in its current quarter.

The steelmaker said it lost $3.8 million or six cents per share for the quarter ended Dec. 31 compared with a profit of $4.9 million or eight cents per share a year earlier.

Revenue in what was the company's third quarter totalled $27 million, down from $65.4 million.

However Lakeside president and chief executive Ron Bedard said he expected revenue in the fourth quarter to total about $40 million.

"Lakeside has weathered the economic storm that the industry as a whole faced in 2009," he said in a statement.

Last month, the steel pipe and mechanical tubing producer recalled its temporarily laid-off workers and increased production.