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Universal Stainless Reports First Quarter 2011 Results
Apr. 29, 2011 - Universal Stainless & Alloy Products, Inc. reported that sales for the first quarter of 2011 were $59.8 million, an increase of 72% from the first quarter of 2010 and up 16% from the 2010 fourth quarter. Net income for the first quarter was more than triple the level of last year's first quarter and up 25% from the fourth quarter of 2010.
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Universal Stainless Reports Death of Founder Mac McAninch
Nov. 30, 2010 - Universal Stainless & Alloy Products, Inc. reported that its founder and recently retired Chairman, Clarence ("Mac") McAninch, passed away on November 27. McAninch founded Universal Stainless in 1994 by joining with a small group of investors to acquire the idled Stainless & Alloy Products Division of Armco Inc., in Bridgeville, Pa.
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Universal Stainless Reports 2010 Q3 Results
Nov. 1, 2010 - Universal Stainless & Alloy Products, Inc. reported $51.9 million in sales for the third quarter of 2010 compared with $25.3 million in the third quarter of 2009 and $51.3 million in the 2010 second quarter. Net income for Q3 was $4.1 million, or $0.60 per diluted share, compared with $0.3 million, or $0.05 per diluted share, for the same period last year.
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Universal Stainless Names New Chief Technology Officer
Sep. 1, 2010 - Universal Stainless & Alloy Products, Inc. has named Arthur C. Reardon, Ph.D., to the newly created position of Chief Technology Officer effective August 31, 2010. He will lead metallurgical process development and oversee all company laboratory capability testing and analysis.
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Universal Stainless Names New CFO
Jul. 21, 2010 - Douglas M. McSorley has been named Vice President of Finance, Chief Financial Officer, and Treasurer of Universal Stainless & Alloy Products, Inc., effective July 19.
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Universal Stainless Reports Further Recovery in Q1 2010
May 3, 2010 - Universal Stainless & Alloy Products, Inc. reported sales for the first quarter of 2010 of $34.7 million, compared with $42.2 million in the first quarter of 2009 and $26.7 million in the fourth quarter of 2009.
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Universal Stainless Announces Resignation of CFO
Apr. 13, 2010 - Richard M. Ubinger has submitted his resignation as Vice President of Finance, Chief Financial Officer, and Treasurer of Universal Stainless & Alloy Products, Inc. effective April 30, 2010. Ronald Hauck, who joined the company as Controller in 2005, will serve as principal financial officer on an interim basis through the conclusion of the search process.
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Universal Stainless to Elect New Chairman of the Board
Feb. 24, 2010 - Universal Stainless & Alloy Products’ Board of Directors intends to elect Dennis M. Oates, the company's President and CEO, to the additional position of Chairman, in anticipation of the impending retirement from the Board of its current Chairman, Clarence M. ("Mac") McAninch.
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Universal Stainless Reports 2nd Quarter 2009 Results
Jul. 30, 2009 - Universal Stainless & Alloy Products reports a net loss of $400,000 on sales of $30.8 million for the second quarter, and a net loss of $4.2 million on sales of $72.9 million for the first six months of 2009.
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Universal Stainless Increases Base Price
Apr. 21, 2009 - Universal Stainless & Alloy Products will increase base prices by $0.05 per pound on all air-melted stainless bar products manufactured at its Dunkirk facility.
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Universal Stainless Reports 3rd Quarter Results
Oct. 24, 2008 - Universal Stainless & Alloy Products reports net income of $2.7 million on sales of $57.6 million for the third quarter, and net income of $12.7 million on sales of $178.0 million for the first nine months of 2008.
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Universal Stainless Reports 2nd Quarter Results
Jul. 25, 2008 - Universal Stainless & Alloy Products reported net income of $5.3 million on sales of $63.5 million for the second quarter, and net income of $10.0 million on sales of $120.3 million for the first six months of 2008.
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Universal Stainless Names VP Sales and Marketing
Apr. 23, 2008 - Universal Stainless & Alloy Products announces the appointment of Christopher M. Zimmer who will join the company as Vice President of Sales and Marketing, effective April 28, 2008.
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Universal Stainless Announces New Director
Apr. 9, 2008 - Universal Stainless & Alloy Products announces the addition of M. David Kornblatt to the company's Board of Directors, increasing the number of Directors to five.
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Universal Stainless Reports 2007 Results
Jan. 25, 2008 - Universal Stainless & Alloy Products, Inc. reported net income of $4.4 million on sales of $49.6 million for the fourth quarter, and record net income of $22.5 million on record sales of $229.9 million for the full year 2007.
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Expired Contract Doesn’t Stop Universal Stainless Dunkirk Workers
Nov. 2, 2007 - While negotiations for a new labor contract are underway, hourly employees at Universal Stainless & Alloy Products’ Dunkirk Specialty Steel subsidiary will continue to work under terms of the previous collective bargaining agreement, which expired at midnight on October 31, 2007.
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Universal Stainless Reports 3rd Quarter Results
Oct. 25, 2007 - Universal Stainless & Alloy Products reports net income of $5.5 million on sales of $62.0 million for the third quarter, and net income of $18.1 million on sales of $180.3 million for the first nine months of 2007.
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Universal Stainless Announces New Addition to Board
Oct. 22, 2007 - Universal Stainless & Alloy Products announces that Dennis M. Oates has joined the company's Board of Directors, filling the independent Board seat left vacant by the retirement of George Keane in May.
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SSINA Study Details Chinese Government Support of Stainless Industry
Apr. 11, 2007 - A new study just issued by the Specialty Steel Industry of North America (SSINA) reveals that the government of China has a policy of conferring preferred status on the stainless steel industry, and providing it with a wide range of preferential treatment programs and direct subsidies.
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YTD Specialty Steel Imports Continue to Exceed YTD 2004 Totals
Oct. 11, 2005 - Total stainless steel imports grew to 399,708 tons through July 2005, a 13% increase* compared to the first seven months of 2004, according to the latest statistical data released by the Specialty Steel Industry of North America (SSINA). As imports continued to climb, U.S. stainless steel consumption dropped slightly to 1,361,595 tons, a 4% decreased compared to the comparable 2004 period.
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Universal Stainless Reports Titusville Employee Work Stoppage
Oct. 4, 2005 - Universal Stainless & Alloy Products, Inc. announced that the Titusville facility hourly employees, represented by Local 7312-03 of the United Steel, Paper and Forestry, Rubber, Manufacturing, Energy, Allied Industrial and Service Workers International Union, AFL-CIO-CLC, have rejected a new collective bargaining agreement offered by the company. The company’s offer included increased wages and other benefits.
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Stainless Steel Imports Continue to Outpace 2004 Totals
Aug. 31, 2005 - Total stainless steel imports climbed to 344,014 tons through the first six months of 2005 — a 15% increase compared to the same period in 2004 — according to the latest data released by the Specialty Steel Industry of North America (SSINA). As imports climbed, U.S. consumption remained steady at 1,168,282 tons, 3% below domestic consumption for the first six months of 2004.
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YTD Specialty Steel Imports Continue to Climb
Aug. 2, 2005 - Total stainless steel imports rose to 286,403 tons through the first five months of 2005 — a 19% increase compared to the same period in 2004 — according to the latest data released by the Specialty Steel Industry of North America (SSINA).
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First Quarter Stainless Steel Imports Climb 37% Higher than 2004
Jun. 14, 2005 - Total stainless steel imports reached 182,350 tons through the first quarter of 2005 — 37% higher than the first quarter of 2004 — according to the latest statistical data released by the Specialty Steel Industry of North America (SSINA). Total specialty steel imports (including stainless, electrical, and tool steels) were 39% higher than the first quarter of 2004.
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Universal Stainless Adjusts Prices, Surcharge Mechanism
Jun. 7, 2005 - Universal Stainless & Alloy Products, Inc. announced base price increases on all premium melted steels, including both vacuum arc remelted and electroslag remelted steels. Effective with shipments scheduled for June 13th, stainless steel remelted grades will increase 6%, and high strength low alloy remelted grades will increase 8%.
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Universal Stainless to Expand Remelt Capacity
May 9, 2005 - Universal Stainless & Alloy Products, Inc.’s Board of Directors has approved the purchase of a sixth vacuum arc remelt (VAR) furnace, which will be installed at its Bridgeville facility.
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Universal Stainless to Increase Base Prices
Jan. 5, 2005 - Universal Stainless & Alloy Products, Inc. announced base price increases of 5% on all air melted and 7% on all remelted steels, effective with shipments scheduled for January 17.
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Universal Stainless Receives 2004 Import Tax Duties
Dec. 8, 2004 - Universal Stainless & Alloy Products, Inc. will recognize Other Income of $507,000 ($0.05 per diluted share) in the fourth quarter of 2004 for the receipt of 2004 import duties received from the U.S. Customs Service in accordance with the Continued Dumping and Subsidy Offset Act of 2000 (CDSOA). The CDSOA provides for payment of the duties collected by the U.S. Treasury to domestic companies injured by unfair foreign trade practices.
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Universal Stainless to Increase Tool Steel Plate Prices
Oct. 6, 2004 - Universal Stainless & Alloy Products, Inc. announced a 6% price increase effective on shipments scheduled for November 1, 2004 for all tool steel plate products manufactured at its Bridgeville, Pa., facility.
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Universal Stainless Increases Line of Credit
Oct. 5, 2004 - Universal Stainless & Alloy Products, Inc. has increased its revolving credit facility with PNC Bank to $15 million from $6.5 million and extended the term to June 30, 2006. All other terms of the credit facility remain unchanged.
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Universal Stainless to Increase Bar Product Prices
Sep. 23, 2004 - Universal Stainless & Alloy Products, Inc. announced a 6% price increase effective on shipments scheduled for October 1, 2004 for all bar products including flats, hexagon and square bar products manufactured at its Bridgeville, Pa., and Dunkirk, N.Y., facilities.
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Universal Stainless President Adopts 10b5-1 Trading Plan
Aug. 17, 2004 - Universal Stainless & Alloy Products, Inc. announced that Clarence M. McAninch, President and CEO, has established a pre-arranged trading plan to sell shares of the company's common stock subject to certain minimum sales price restrictions.
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Universal Stainless Reports Record Quarter and Annual Sales
Jan. 21, 2004 - Universal Stainless & Alloy Products, Inc. reported net income of $2.6 million on record sales of $37.0 million for the fourth quarter and net income of $7.1 million on record sales of $120.6 million for the full year 2004.
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