Universal Stainless & Alloy Products, Inc. Reports Earnings Results for the Fourth Quarter Ended December 31, 2020
January 27, 2021 at 08:01 am
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Universal Stainless & Alloy Products, Inc. announced earnings results for the fourth quarter ended December 31, 2020. For the fourth quarter, the company announced sales was USD 31.324 million compared to USD 55.171 million a year ago. Operating loss was USD 9.278 million compared to operating Income of USD 602,000 a year ago. Net loss was USD 7.305 million compared to net income of USD 200,000 a year ago. Basic loss per share from continuing operations was USD 0.83 compared to basic earnings per share from continuing operations of USD 0.02 a year ago. For the full year, sales was USD 179.731 million compared to USD 243.007 million a year ago. Operating loss was USD 22.408 million compared to operating Income of USD 7.291 million a year ago. Net loss was USD 19.047 million compared to net income of USD 4.275 million a year ago. Basic loss per share from continuing operations was USD 2.16 compared to basic earnings per share from continuing operations of USD 0.49 a year ago. Diluted loss per share from continuing operations was USD 2.16 compared to diluted earnings per share from continuing operations of USD 0.48 a year ago.
Universal Stainless & Alloy Products, Inc. is engaged in manufacturing and marketing semi-finished and finished specialty steel products, including stainless steel, nickel alloys, tool steel and certain other premium alloyed steels. Its manufacturing process involves melting, remelting, heat treating, hot and cold rolling, forging, machining and cold drawing of semi-finished and finished specialty steels. It produces a variety of specialty steel grades using several manufacturing processes including vacuum induction melting (VIM), vacuum-arc remelting (VAR), electro-slag remelting (ESR) and argon oxygen decarburization (AOD). Its products are sold to service centers, forgers, rerollers and original equipment manufacturers (OEMs). Its customers further process its products for use in a variety of industries, including the aerospace, power generation, oil and gas, heavy equipment and general industrial markets. It also performs conversion services on materials supplied by customers.
UNIVERSAL STAINLESS & ALLOY PRODUCTS, INC. 
