$USAP
UNIVERSAL STAINLESS & ALLOY PRODUCTS INC

2013 Q4 Form 10-Q Financial Statement

#000119312513437771 Filed on November 12, 2013

View on sec.gov

Income Statement

Concept 2013 Q4 2013 Q3 2012 Q4
Revenue $40.29M $48.46M $47.15M
YoY Change -14.55% -21.02% -24.16%
Cost Of Revenue $38.80M $46.02M $41.18M
YoY Change -5.78% -11.54% -18.07%
Gross Profit $1.490M $2.438M $5.967M
YoY Change -75.03% -73.89% -49.87%
Gross Profit Margin 3.7% 5.03% 12.66%
Selling, General & Admin $4.030M $4.467M $4.220M
YoY Change -4.5% 1.02% -12.27%
% of Gross Profit 270.47% 183.22% 70.72%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $4.110M $3.890M $4.010M
YoY Change 2.49% 10.83% -0.99%
% of Gross Profit 275.84% 159.56% 67.2%
Operating Expenses $4.030M $4.467M $4.220M
YoY Change -4.5% 1.02% -12.27%
Operating Profit -$2.540M -$2.029M $1.752M
YoY Change -244.98% -143.62% -75.02%
Interest Expense -$760.0K $752.0K -$670.0K
YoY Change 13.43% 24.92% 17.54%
% of Operating Profit -38.24%
Other Income/Expense, Net $0.00 $420.0K $50.00K
YoY Change -100.0% 1300.0% 150.0%
Pretax Income -$3.350M -$2.363M $1.140M
YoY Change -393.86% -157.95% -82.38%
Income Tax -$480.0K -$652.0K $54.00K
% Of Pretax Income 4.74%
Net Earnings -$2.870M -$1.711M $1.081M
YoY Change -365.49% -162.33% -74.6%
Net Earnings / Revenue -7.12% -3.53% 2.29%
Basic Earnings Per Share -$0.25 $0.16
Diluted Earnings Per Share -$411.8K -$0.25 $0.16
COMMON SHARES
Basic Shares Outstanding 6.965M shares 6.961M shares
Diluted Shares Outstanding 6.961M shares

Balance Sheet

Concept 2013 Q4 2013 Q3 2012 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $300.0K $100.0K $300.0K
YoY Change 0.0% -66.67% 0.0%
Cash & Equivalents $307.0K $80.00K $321.0K
Short-Term Investments
Other Short-Term Assets $16.90M $1.466M $2.246M
YoY Change 652.45% -93.34% 2.18%
Inventory $82.60M $82.67M $95.75M
Prepaid Expenses
Receivables $21.40M $29.49M $24.78M
Other Receivables $0.00 $1.600M $0.00
Total Short-Term Assets $121.3M $122.7M $147.4M
YoY Change -17.72% -22.9% -5.13%
LONG-TERM ASSETS
Property, Plant & Equipment $203.6M $205.7M $206.2M
YoY Change -1.24% 0.34% 12.56%
Goodwill $20.27M $20.27M
YoY Change -1.03%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.800M $2.293M $2.418M
YoY Change 15.8% -11.81% -8.72%
Total Long-Term Assets $226.6M $228.3M $228.8M
YoY Change -0.98% 0.16% 10.94%
TOTAL ASSETS
Total Short-Term Assets $121.3M $122.7M $147.4M
Total Long-Term Assets $226.6M $228.3M $228.8M
Total Assets $347.9M $350.9M $376.3M
YoY Change -7.54% -9.32% 4.04%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $14.30M $12.05M $10.61M
YoY Change 34.78% -34.89% -64.53%
Accrued Expenses $3.400M $3.300M $4.700M
YoY Change -27.66% -44.07% -37.33%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $3.000M $3.000M $1.500M
YoY Change 100.0% 275.0% -50.0%
Total Short-Term Liabilities $21.70M $22.42M $17.52M
YoY Change 23.89% -15.09% -57.72%
LONG-TERM LIABILITIES
Long-Term Debt $86.80M $91.60M $105.2M
YoY Change -17.52% -18.72% 14.83%
Other Long-Term Liabilities $400.0K $397.0K
YoY Change 98.5%
Total Long-Term Liabilities $87.20M $92.00M $105.2M
YoY Change -17.14% -18.51% 14.83%
TOTAL LIABILITIES
Total Short-Term Liabilities $21.70M $22.42M $17.52M
Total Long-Term Liabilities $87.20M $92.00M $105.2M
Total Liabilities $151.5M $151.6M $178.0M
YoY Change -14.88% -20.65% -1.86%
SHAREHOLDERS EQUITY
Retained Earnings $151.9M $153.1M
YoY Change 10.55%
Common Stock $7.000K $7.000K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.191M $2.153M
YoY Change 12.19%
Treasury Stock Shares 289.8K shares 288.7K shares
Shareholders Equity $196.5M $199.4M $198.3M
YoY Change
Total Liabilities & Shareholders Equity $347.9M $350.9M $376.3M
YoY Change -7.54% -9.32% 4.04%

Cashflow Statement

Concept 2013 Q4 2013 Q3 2012 Q4
OPERATING ACTIVITIES
Net Income -$2.870M -$1.711M $1.081M
YoY Change -365.49% -162.33% -74.6%
Depreciation, Depletion And Amortization $4.110M $3.890M $4.010M
YoY Change 2.49% 10.83% -0.99%
Cash From Operating Activities $6.940M $11.35M $13.04M
YoY Change -46.78% -8.69% 2.44%
INVESTING ACTIVITIES
Capital Expenditures -$1.440M -$3.350M -$6.710M
YoY Change -78.54% -70.41% -43.76%
Acquisitions
YoY Change
Other Investing Activities $0.00 $10.00K
YoY Change -100.0%
Cash From Investing Activities -$1.440M -$3.350M -$6.700M
YoY Change -78.51% -70.41% -43.89%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -5.270M -8.650M -6.280M
YoY Change -16.08% 731.73% 665.85%
NET CHANGE
Cash From Operating Activities 6.940M 11.35M 13.04M
Cash From Investing Activities -1.440M -3.350M -6.700M
Cash From Financing Activities -5.270M -8.650M -6.280M
Net Change In Cash 230.0K -650.0K 60.00K
YoY Change 283.33% -1028.57% -300.0%
FREE CASH FLOW
Cash From Operating Activities $6.940M $11.35M $13.04M
Capital Expenditures -$1.440M -$3.350M -$6.710M
Free Cash Flow $8.380M $14.70M $19.75M
YoY Change -57.57% -38.11% -19.91%

Facts In Submission

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dei Trading Symbol
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dei Entity Registrant Name
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dei Document Type
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NetIncomeLoss
2745000
CY2012Q3 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
52023000
CY2012Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
4422000
CY2012Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1333000
CY2012Q3 us-gaap Interest Expense
InterestExpense
602000
CY2012Q3 us-gaap Severance Costs1
SeveranceCosts1
263000
CY2013Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.25
CY2013Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.25
CY2013Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
6960967 shares
CY2013Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.276 pure
CY2013Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6960967 shares
CY2013Q3 us-gaap Sales Revenue Net
SalesRevenueNet
48460000
CY2013Q3 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
418000
CY2013Q3 us-gaap Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
-1711000
CY2013Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-2363000
CY2013Q3 us-gaap Gross Profit
GrossProfit
2438000

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