SOURCE: US Nuclear Corp.

US Nuclear Corp.

November 15, 2016 08:53 ET

US Nuclear Corp. Reports Profitable Third Quarter Results

LOS ANGELES, CA--(Marketwired - Nov 15, 2016) - US Nuclear Corp. (OTCBB: UCLE), a leading manufacturer of advanced radiation detection instrumentation, recently announced profitable financial results for the third quarter ended September 30, 2016. 

Summary of results for the three months ended September 30, 2016:

  • Sales revenue for the third quarter was $751,036, an increase of 13.3% for the same period in 2015
  • Gross profit was $364,021 for the three months ended September 30, 2016
  • Gross margins were 48.5% as compared to 50.2% for the same period in 2015
  • Net income was $102,243
  • Strong back-log of orders added in Q3

"We are thrilled to announce our profitable third quarter results," said Robert I. Goldstein, President, CEO, and Chairman of US Nuclear Corp. "Total sales revenue was up 13.3% for the same period in 2015, which was due to our ability to complete shipments and deliver against our robust back-log, in addition to the new sales generated from our recent acquisition of Electronic Control Concepts (ECC), which is now co-located with Overhoff Technology at our Milford, OH branch."

Furthermore, US Nuclear Corp. has been actively engaged in bringing the new DroneRAD product line (drones with radiation and chemical sensors installed) to market through their strategic alliance with FlyCam UAV. Significant interest and traction has been generated throughout the five drone investment conferences attended so far in the second half of this year, and we remain poised as the number one supplier in this emerging market. 

               
      Three Months Ended September 30,       Change
      2016       2015       $     %
                             
Sales   $ 751,036     $ 662,793     $ 88,243     13.3%
Cost of goods sold     387,015       329,947       57,068     17.3%
Gross profit     364,021       332,846       31,175     9.4%
Selling, general and administrative expenses     256,179       208,393       47,786     22.9%
Income from operations     107,842       124,453       (16,611 )   -13.3%
Other income (expense)     (5,599 )     (6,551 )     952     -14.5%
Income before provision for income taxes     102,243       117,902       (15,659 )   -13.3%
Provision for income taxes     -       -       -      
Net income   $ 102,243     $ 117,902     $ (15,659 )   -13.3%
                             

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. (OTCBB: UCLE)
    Robert I. Goldstein
    President, CEO, and Chairman
    Rachel Boulds
    Chief Financial Officer
    (818) 883 7043