Key Developments For Universal Stainless & Alloy Products Inc
Universal Stainless & Alloy Products Inc (USAP.O) (Nasdaq)
Universal Stainless & Alloy Products, Inc. Issues Q2 2009 Revenue Guidance In Line With Analysts' Estimates
Universal Stainless & Alloy Products, Inc. announced that for the second quarter of 2009, it expects revenues will be below those of the first quarter of 2009. The Company reported revenues of $42.2 million for the first quarter of 2009. According to Reuters Estimates, analysts are expecting the Company to report revenues of $32.7 million for the second quarter of 2009.
Universal Stainless & Alloy Products, Inc. Reaffirms Q1 2009 Revenue Outlook; Not To Meet Q1 2009 EPS Outlook
Universal Stainless & Alloy Products, Inc. confirmed that it expects sales for the first quarter of 2009 to range from $32 to $42 million. However, it does not expect to meet the earnings guidance, made at that time, of breakeven to $0.10 for the first quarter of 2009. According to Reuters Estimates, analysts were expecting the Company to report revenue of $40 million and EPS of $0.05 for the first quarter of 2009.
Universal Stainless & Alloy Products, Inc. Enters New Credit Agreement With PNC Bank
Universal Stainless & Alloy Products, Inc. announced that it has entered into a new credit agreement with PNC Bank providing for a $12.0 million term loan scheduled to mature in 2014 and a $15.0 million revolving credit facility with a term expiring in 2012. The new agreement replaces the Company's existing Revolving Credit Agreement that was set to expire June 30, 2009. The Company intends to use the borrowings under the term loan to fund its previously announced capital investment program totaling $13 million in its Bridgeville melt shop and other related costs. The investment is for major upgrades in equipment, automation and plant layout, including installation of a 50-ton electric arc furnace shell, upgrade of alloy addition equipment at the Argon-Oxygen Decarburization (AOD) unit, and the addition of new ladle preheating equipment.
Universal Stainless & Alloy Products, Inc. Reaffirms Q4 2008 Revenue Outlook; Lowers Q4 2008 EPS Outlook
Universal Stainless & Alloy Products, Inc. updated its business outlook for the fourth quarter of 2008. In updating its outlook, the Company confirmed its forecast of consolidated sales in the range of $45 to $55 million, including sales of $10 to $12 million from its Dunkirk Special Steel segment. However, it now expects that diluted EPS will range from breakeven to $0.15 due to lower raw material prices.
Universal Stainless & Alloy Products, Inc. Issues Q4 2008 Guidance; EPS Guidance Below Analysts' Estimates
Universal Stainless & Alloy Products, Inc. announced that for fourth quarter 2008 it expects sales to range from $45 to $55 million and that diluted EPS to range from $0.20 to $0.35, which includes the remaining expense, equivalent to $0.02 per diluted share, for the relocation of the round bar finishing facility. According to Reuters Estimates, analysts are expecting the Company to report revenue of $48 million and EPS of $0.39 for fourth quarter 2008.
