Specialty steel manufacturer Universal Stainless & Alloy Products Inc. (USAP - Free Report) has secured the fifth Nadcap (National Aerospace and Defense Contractors Accreditation Program) accreditation in six months. The company has achieved the Nadcap Heat Treat accreditation at its Dunkirk Specialty Steel facility. This Nadcap accreditation represents a crucial step toward producing premium alloys and more technologically advanced products.
An internationally acclaimed cooperative accreditation program, Nadcap is designed to manage an economical consensus approach to special processes and products. It aims at providing improvement within the aerospace and defense industries. Nadcap also provides international, unbiased, independent manufacturing process and product assessments along with certification services.
Universal Stainless, in May, achieved Nadcap Heat Treat accreditation at its Bridgeville, Pa., facility. It reflected the company’s continued focus on realizing its objectives and serving the targeted markets, led by aerospace.
Universal Stainless reported first-quarter 2013 earnings of a penny a share compared with 86 cents a share earned in the year-ago quarter. Profit was $0.04 million, around 99% plunge from $6.3 million posted in the prior-year quarter.
Revenues decreased 34% to $49.1 million in the quarter from $74.6 million in the year-ago quarter. The results were impacted by slow demand recovery across the end markets as the supply channel customers continued to closely manage their inventories. The quarter’s performance was also hurt by lower value shipment mix.
Universal Stainless is expecting continued improvement in supply channel demand for the rest of 2013. The company will also focus on leveraging its strengths in its facilities and enhance sales mix with higher margin products. Universal Stainless plans to tap the strong opportunities in the end markets through efficient customer service and products.
Universal Stainless currently holds a Zacks Rank #5 (Strong Sell).
Other companies in the steel industry with favorable Zacks Rank are Kobe Steel Ltd. (KBSTY - Free Report) , Shiloh Industries Inc. and Angang Steel Company Limited (ANGGY - Free Report) . While both Kobe Steel and Shiloh Industries hold a Zacks Rank #1 (Strong Buy), Angang Steel retains a Zacks Rank #2 (Buy).