Universal posts record sales in 1st qtr.
Apr 26, 2012 | 05:40 PM
| Thorsten Schier
Tags
Universal Stainless,
first quarter 2012,
Dennis Oates,
North Jackson,
VIM,
VAR,
aerospace,
tool steel
Thorsten Schier
NEW YORK — A hot-metal spill at Universal Stainless & Alloy Products Inc.’s recently acquired North Jackson, Ohio, facility crimped first-quarter earnings slightly, even as the company reported a strong overall quarter in which net income rose 41.3 percent on record sales.
Universal posted net income of nearly $6.3 million for the three months ended March 31, up from $4.4 million in the year-ago quarter, on sales that increased 24.7 percent to $74.6 million from $59.8 million. Shipments grew 7.8 percent to 14,034 tons from 13,013 tons in the same comparison. ....
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