Universal Stainless & Alloy Products, Inc.
) has released its preliminary results for the fourth quarter of
2012. The company expects earnings in the range of 15 cents to 17
cents per share for the fourth quarter.
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Universal Stainless anticipates sales to be about $47 million for
the quarter, which is lower than the company's expectations. The
company also stated that activity levels across the end markets
went down in the quarter as customers decreased their inventory
levels given the economic challenges. The company's shipments
also decreased in the quarter. It reported an operating margin of
4% for the quarter.
The company's end-2012 order entry remained weak. Backlog at the
end of the fourth quarter was $51.7 million compared with $65.9
million at the end of the third quarter. The company made
progress in the expansion of its North Jackson facility during
Universal Stainless produces semi-finished and finished specialty
steel long products and plate, including nickel alloy, stainless
steel, tool steel and aircraft quality low alloy steels, in a
wide variety of grades and product forms. The company's specialty
bar facilities have one of the broadest and diverse size range
and product capabilities in the industry.
Universal Stainless is scheduled to release its fourth-quarter
2012 results on January 29. It currently retains a Zacks Rank #3
Other companies in the steel industry with favorable Zacks Rank
Gibraltar Industries Inc.
ArcelorMittal South Africa
Commercial Metals Company
). While Gibraltar holds a Zacks Rank #1 (Strong Buy), the other
two companies hold a Zacks Rank #2 (Buy).