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Univeral Stainless profit reduced on corrected results

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Monday, Nov. 5, 2012, 9:48 a.m.

Universal Stainless & Alloy Products Inc. corrected its third-quarter results on Monday, saying an incorrect customer invoice was discovered and a credit memo has been issued.

Previously reported sales for the third quarter were cut by $900,000 to $61.4 million. With the fix, the Bridgeville-based stainless steel maker said it earned a profit of $2.75 million, or 38 cents a share for the three months ended Sept. 30.

That's a change from $3.27 million, or 45 cents.

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