Universal Stainless & Alloy Down 5.5% After Q1

By MidnightTrader.com Staff,

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Universal Stainless & Alloy Products, Inc. ( USAP ) is down 6%, has dipped under $33 and is closer to a year low of $30.66 after earlier reporting Q1 sales of $49.1 million compared with $74.6 million in Q1 2012. According to Briefing.com, this above the co's April 25 pre-announcement of approx. break even while revenues were in-line with the co's pre-announcement of ~$49 mln.

It said: "The outlook for the remainder of 2013 is for continued, gradual improvement in supply channel demand. With the longer-term outlook for our end markets remaining strong, we will stay focused on aggressively seizing immediate market opportunities through excellent customer service and products, on further leveraging the strengths of all our facilities, and on moving to an enhanced sales mix with higher margin products."

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing Commodities
Referenced Stocks: USAP

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