Universal forecasts slightly better 3rd qtr.
Jul 20, 2012 | 03:07 PM
| Thorsten Schier
Tags
Universal Stainless,
second quarter 2012,
Dennis Oates,
North Jackson,
service center,
power generation,
Thorsten Schier
NEW YORK — Universal Stainless & Alloy Products Inc. said it expects to log a modest increase in third-quarter results after a sharp decline in service center buying due to falling raw material prices crimped second-quarter earnings.
"Something on the range of the second quarter (or) up slightly would be our best look at the third quarter right now," chairman, president and chief executive officer Dennis Oates said during the company’s second-quarter earnings call Friday.
In the second quarter, falling raw material prices led to some customer destocking from mid-May, Oates said.....
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