Universal optimistic despite net loss

May 01, 2014 | 05:51 PM | Rey Mashayekhi

Tags  Universal Stainless & Alloy Products, stainless steel, quarterly earnings, aerospace, Dennis Oates, Pratt & Whitney, Rey Mashayekhi

NEW YORK — Universal Stainless & Alloy Products Inc. recorded a first-quarter net loss, but improved business conditions have led to higher sales and increased bookings.

The Bridgeville, Pa.-based alloy producer pointed to end market improvement that resulted in sequentially higher shipments to key sectors in the first quarter, including an 8-percent increase in tons shipped to the aerospace market, a 7-percent increase in power generation shipments and an 11-percent increase in oil and gas market shipments. The company’s net sales for the....

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