SOURCE: US Nuclear Corp.

US Nuclear Corp.

August 22, 2016 08:00 ET

US Nuclear Corp. Reports Profitable Second Quarter Results Driven by Tritium Monitor Sales

LOS ANGELES, CA--(Marketwired - Aug 22, 2016) - US Nuclear Corp. (OTCBB: UCLE)

  • Sales revenue for the second quarter was $645,523
  • Gross profit was $325,853 for the three months ended June 30, 2016
  • Gross margins were 50.5% as compared to 46.5% for the same period in 2015
  • Net income for the second quarter was $85,039
  • Substantial back-log of orders projected to ship during the third and fourth quarters of 2016

US Nuclear Corp. (OTCBB: UCLE), a leading manufacturer of advanced radiation detection instrumentation, recently announced profitable financial results for the second quarter ended June 30, 2016. 

"We are pleased to announce profitable second quarter results that reflect a strong customer demand in our tritium monitoring products," commented Robert I. Goldstein, President, CEO, and Chairman of US Nuclear Corp. 

"We continue to add significant orders to our back-log, thus ensuring a highly productive third and fourth quarter where these orders are projected to ship. Furthermore, we have solidified our position as the forefront commercial supplier of radiation sniffing drones, working with nuclear power plants and the FAA to determine the specific regulations for this emerging market which will drive growth for us. We also experienced a significant increase in demand for our unique tritium water monitors, for both fresh water and sea water, which we expect is a result of regulations tightening world-wide on drinking water quality, and increased incidences of tritium found to be leaking into groundwater, or in the case of Fukushima, releasing the tritiated water into the ocean."

           
  Three Months Ended June 30,     Change  
  2016     2015     $     %  
                             
Sales $ 645,523     $ 1,102,894     $ (457,371 )   -41.5 %
Cost of goods sold   319,670       590,451       (270,781 )   -45.9 %
Gross profit   325,853       512,443       (186,590 )   -36.4 %
Selling, general and administrative expenses   235,766       203,764       32,002     15.7 %
Income from operations   90,087       308,679       (218,592 )   -70.8 %
Other income (expense)   (5,048 )     (4,408 )     (640 )   14.5 %
Income before provision for income taxes   85,039       304,271       (219,232 )   -72.1 %
Provision for income taxes   -       -       -        
Net income $ 85,039     $ 304,271     $ (219,232 )   -72.1 %
                             

About US Nuclear Corp.

US Nuclear Corp is a fully-reporting, publicly traded company on the Over-the-Counter Bulletin Board, traded under the ticker symbol UCLE. The Company's operations are principally engaged through its subsidiaries, operating two leading nuclear radiation detection companies, Overhoff Technology Corp. and Optron Scientific Company Inc. The Company designs, manufactures and markets branded, full line radiation detection and specialized advanced tritium technology for the nuclear energy industry and for emerging technological processes such as Thorium and Molten Salt (MSR) reactor technologies both domestically and internationally to customers such as United States Government Agencies, the U.S. Military, Homeland Security, Scientific Laboratories, Universities, Hospitals, nuclear reactor facilities in the United States, China, Canada, South Korea, Argentina, Russia and others.

Safe Harbor Act

This press release includes "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Actual results may differ from expectations, estimates and projections and, consequently, you should not rely on these forward looking statements as predictions of future events. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "continue," and similar expressions are intended to identify such forward-looking statements. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results.

Investors may find additional information regarding US Nuclear Corp. at the SEC website at http://www.sec.gov, or the company's website at www.usnuclearcorp.com

Contact Information

  • CONTACT:
    US Nuclear Corp.
    Robert I. Goldstein
    President, CEO, and Chairman
    Rachel Boulds
    Chief Financial Officer
    (818) 883 7043