Universal Stainless & Alloy Products Inc. (USAP: Quote) reported that based on preliminary results, it expects sales for the fourth quarter of 2012 to approximate $47 million and earnings per share to approximate $0.15 to $0.17. Analysts polled by Thomson Reuters expect the company to report earnings of $0.30 per share on revenues of $60.45 million for the fourth-quarter. Analysts’ estimates typically exclude special items.
The company said it will report its fourth quarter and full year 2012 results on Tuesday, January 29th.
Chairman, President and CEO Dennis Oates said, “While we anticipated that sales in the fourth quarter would not match those of the 2012 third quarter, our fourth quarter results are lower than expected. Year-end order entry remained weak. Our backlog at quarter-end was $51.7 million compared with $65.9 million at the end of the third quarter. With reduced shipment volume and the continuing ramp-up of North Jackson, our consolidated operating margin in the fourth quarter was approximately 4%.”
Click here to receive FREE breaking news email alerts for Universal Stainless & Alloy Products Inc. and others in your portfolio
by RTT Staff Writer
For comments and feedback: editorial@rttnews.comBusiness News