Universal Stainless & Alloy Products inc. reported a profit of $1.1 million for the fourth quarter, down 75 percent from a year ago.
The Bridgeville-based specialty steelmaker said Tuesday its earnings of 16 cents a share are in line with recent guidance, and factor in expenses amounting to 12 cents a share to ramp up a North Jackson, Ohio, plant that makes nickel alloy, stainless and low-alloy steels
A year ago, the company had a $4.26 million profit, or 59 cents a share. Revenue fell 34 percent to $34.47 million.
For the full year, the company made a $14.62 million profit, or $2.02, on $195.32 million in sales. That's down from $18.12 million, or $2.56, on $202 million in revenue for 2011.
Kim Leonard is a staff writer for Trib Total Media.
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