Universal Stainless (USAP) downgraded from buy to hold.

Performs quarter over quarter and well run

USA based steel as a growth industry?!?!

high returns

Engine and structural Components

steel and other metal

A small, dynamic company that is taking steps to increase their revenue through stainless steel niches that will give them an edge over competitors.

Universal Stainless is seeing strong demand across all of its business segments including Aerospace, power generation, and heavy power equipment. USAP has very impressive growth rates, at a 45% 3 year growth rate. The company has been able to pass along increased raw materials costs to its customers in the past through surcharges. The company has solid customer relationships with their top 3 customers, accounting for 34% of their sales. Aerospace sales were up 68% and should continue to be strong as Boeing builds their new Dreamliner airlines and Airbus their 380. The light alloy products are also used in jet plain engines to reduce weight and improve efficiency. Agricultural and mining demand has also been very strong. The company sold 1 million pounds of steel to General Electric Power Systems. Universal Stainless reports earnings Tuesday April 23rd. Informative Article on IMBD http://www.investors.com/editorial/IBDArticles.asp?artsec=16&artnum=1&issue=20070321

volatility

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