Universal Stainless & Alloy Products Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2011. For the quarter, the company reported total net sales of $62,168,000 against $51,583,000 a year ago. Operating income was $7,013,000 against $5,453,000 a year ago. Income before income taxes was $6,468,000 against $5,407,000 a year ago. Net income was $4,256,000 or $0.59 per diluted share against $3,569,000 or $0.52 per diluted share a year ago. For the fourth quarter of 2011, cash flow from operations reached $9.6 million. Capital expenditures were $16.6 million for the fourth quarter, including $14.4 million for the North Jackson operation. For the full year, the company reported total net sales of $252,596,000 against $189,423,000 a year ago. Operating income was $29,687,000 against $20,423,000 a year ago. Income before income taxes was $28,478,000 against $20,063,000 a year ago. Net income was $18,122,000 or $2.56 per diluted share against $13,242,000 or $1.93 per diluted share a year ago. Net cash provided by operating activities was $10,687,000 against $907,000 a year ago. Capital expenditures, net of amount included in current liabilities were $16,790,000 against $6,903,000 a year ago.