Universal Stainless sales, earnings tumble

Jul 31, 2013 | 03:12 PM | Daniel Fitzgerald

Tags  Universal Stainless & Alloy Products, Dennis Oates, Michael Bornak, earnings report, stainless demand, Daniel Fitzgerald

NEW YORK — Universal Stainless & Alloy Products Inc.’s sales and earnings fell sharply in the second quarter due to lower shipments.

The Bridgeville, Pa.-based company posted net income of $478,000 for the three months ended June 30, down 89.4 percent from $4.51 million in the same period last year on sales that fell 36.8 percent to $42.89 million from $67.87 million.

The sales decline was primarily due to a 36-percent drop in shipments, chief financial officer Michael Bornak said during an earnings conference call.....





Latest Pricing Trends

Poll

Are you stocking more inventory today than 18 months ago?

Yes
No


View previous results