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Universal Stainless Reports Fourth Quarter and 2019 Results-The 21st China(Guangzhou)Int'l Stainless Steel Industry Exhibition
3/2/2020 - Stainless Steel Exhibition |
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Universal Stainless & Alloy Products Inc has reported that net sales for the fourth quarter of 2019 were USD 55.2 million, compared with USD 56.6 million in the third quarter of 2019 and USD 57.1 million in the fourth quarter of 2018. Universal Stainless Chairman, President and CEO Mr Dennis Oates said “Aerospace sales remained solid in the fourth quarter at USD 37.6 million, or 68.2% of total sales, increasing 7.2% from the fourth quarter of 2018, but down 8.0% sequentially. Our full year 2019 aerospace sales were up 14.5% from 2018 and reached a record USD 170.4 million, or 70.1% of 2019 total sales. Sales to our remaining targeted end markets all increased sequentially in the fourth quarter of 2019.”
Sales of premium alloys totaled USD 7.4 million, or 13.4% of sales, in the fourth quarter of 2019, compared with USD 8.0 million, or 14.2% of sales, in the third quarter of 2019 and USD 8.1 million, or 14.2% of sales in the fourth quarter of 2018. Full year premium alloy sales were USD 37.6 million, or 15.5% of sales, for 2019. For full year 2019, net sales totaled USD 243.0 million compared with USD 255.9 million in 2018.
Net income for the fourth quarter of 2019 was USD 0.2 million. Net income for the third quarter of 2019 totaled USD 0.8 million. In the fourth quarter of 2018, net income was USD 0.6 million. For full year 2019, net income was USD 4.3 million as compared with USD 10.7 million in 2018.
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