Universal Stainless & Alloy Products today reported double-digit increases in profit for the fourth quarter and all of 2011.

The Bridgeville specialty metals producer said fourth quarter profit rose 19 percent to $4.3 million, or 59 cents per diluted share, versus earnings of $3.6 million, or 52 cents per share, in the year-ago quarter. Sales rose 21 percent to $62.2 million.

Costs of starting up the North Jackson, Ohio, mill it acquired from Patriot Special Metals in August reduced earnings by 13 cents per diluted share.

For the full year, profit rose 37 percent to $18.1 million, or $2.56 per diluted share, versus 2010 earnings of $13.2 million, or $1.93 per diluted share. Sales increased 33 percent to $252.6 million.

The results were announced before Wall Street opened. Universal Stainless shares closed yesterday at $39.92, down 8 cents. They were up 17 percent last year.