Universal Stainless Provides Update on Bookings
09/27/2012 - Universal Stainless & Alloy Products, Inc. reported that based on updated information and continued shifts in customer demand, it now expects its order entry for September to approximate the monthly average of the trailing three months.
Universal Stainless & Alloy Products, Inc. reported that based on updated information and continued shifts in customer demand, it now expects its order entry for September to approximate the monthly average of the trailing three months. Based on this trend and normal year-end seasonality, the company expects its quarterly revenues to remain under pressure and does not anticipate recovery from its second quarter 2012 levels until the first quarter of 2013.
Dennis Oates, Chairman, President and Chief Executive Officer, commented, "Post-Labor Day supply chain demand has not stabilized as much as had been hoped. While we continue to execute our growth strategy company-wide, it is prudent to assume that the benefits of our initiatives to both sales and profitability will not be reflected in our performance until next year."
Universal Stainless & Alloy Products, Inc., headquartered in Bridgeville, Pa., manufactures and markets semi-finished and finished specialty steels, including stainless steel, tool steel and certain other alloyed steels. The company’s products are used in a variety of industries, including aerospace, power generation, petrochemical and heavy equipment manufacturing. Established in 1994, the company, with its experience, technical expertise, and dedicated workforce, stands committed to providing the best quality, delivery, and service possible.
