For the fourth quarter of 2011, the Universal Stainless & Alloy Products segment, including the North Jackson operation, had sales of USD 49.2 million and operating income of USD 4.0 million, yielding an operating margin of 8.2% of sales. Before including the North Jackson operation, segment sales were USD 48.6 million and operating income was USD 4.9 million, or 10.1% of sales. In the fourth quarter of 2010, sales were USD 46.1 million and operating income was USD 4.2 million, or 9.2% of sales. For the third quarter of 2011, segment sales, including the North Jackson operation, were USD 60.6 million and operating income was USD 4.8 million, or 7.9% of sales. Before including North Jackson, segment operating income was USD 6.5 million, or 10.7% of sales.

Segment sales rose 7% from the fourth quarter of 2010 on 2% lower tons shipped mainly due to increased shipments to service centers. Segment sales were 19% lower than the 2011 third quarter on 14% lower volume mainly due to lower shipments to service centers and forgers.

Sales for the Dunkirk Specialty Steel segment were USD 24.5 million for the fourth quarter of 2011 and operating income was USD 2.5 million, yielding an operating margin of 10.1% of sales. This compares with sales in the fourth quarter of 2010 of USD 17.1 million and operating income of USD 1.3 million, or 7.8% of sales. In the third quarter of 2011, sales were USD 25.3 million and operating income was USD 2.5 million, or 9.9% of sales.

Dunkirk's sales increased 43% from the fourth quarter of 2010 on a 34% increase in tons shipped, mainly due to increased shipments to service centers. Dunkirk's sales decreased 3% from the third quarter of 2011 on 5% lower tons shipped, mainly due to lower shipments to service centers and lower conversion pounds.