- Los Angeles, CA. November 12, 2015 – US Nuclear Corp. (OTCBB: UCLE), a leading manufacturer of advanced radiation detection equipment for the nuclear energy industry, scientific laboratories, U.S. military, U.S. Government Agencies, Hospitals, and international nuclear reactor facilities announced financial results for the third quarter ended September 30, 2015.
- Delivers Third Quarter 2015 Sales Revenue of $662,793 compared to $588,551 for Third Quarter 2014, an Increase of $74,242, or 12.7%
- Reports Third Quarter 2015 Net Income of $117,902 or $0.01 Per Share compared to a net income of $13,487 or $0.00 Per Share Over Third-Quarter 2014
- Net Sales were $662,793 an increase of 12.7% compared to the prior year period
- Gross Margin for the quarter was 50.2% as compared to 49.6% in the prior year period
Commenting on the Company’s performance, Robert I. Goldstein, President, CEO and Chairman said, “We demonstrated strong results our recent third quarter due to some large orders being shipped from our Overhoff division. During the quarter we signed a new distribution agreement with Photon Information Technology Inc., an affiliate of NuClover Technology of China. This agreement seeks to increase our footprint in China to deliver our advanced tritium monitors and radiation detection equipment to their expanding nuclear power industry. US Nuclear Corp, “again delivered increased sales and positive earnings per share this quarter,” Goldstein continued, “We are working on some new technologies that will help with early warning radiation detection and intend to launch our mobile drone initiative within the fourth quarter which will operate an advanced radiation detector on a drone for domestic government agencies and military uses.” “Additionally, we also continue to field requests from large scale organizations for potential new orders and upgrades, while we cannot yet confirm these orders, we are encouraged that there are favorable trends within our markets for our advanced tritium products.
Third Quarter 2015 Highlights
- Net Sales were $662,793, an increase of 12.7% compared to the prior year period.
- Net Income was $117,902 or $0.01 per share compared to $13,487 or $0.00 per share comparedto the prior year period.
- Gross Profit was $332,846 an increase of 14% compared to $291,991 for the same period in2014.
- Gross Margin for the quarter was 50.2% compared to 49.6% in the prior year period.
- Gross Margin for the nine months ended September 30, 2015 was 49.0% compared to 45.8% forthe same period in 2014.
- Cash position increased to $651,165 or 54% to compared to $422,503 for the same period in 2014.
Outlook and Commentary
“We continue to make improvements in our efforts to service the developing nuclear industry in China. We believe that China continues to be a leading market for our products based on published growth of nuclear projects.” Commented, Mr. Goldstein. “Through that effort, we have signed an agreement with Photon Information Technology Inc., an affiliate of NuClover Technology of China, during the third quarter to improve our distribution in China. NuClover is a highly regarded radiation distribution company with a team of experts that know the China-market well.” “Going forward, we are optimistic that our products, primarily, our advanced tritium radiation monitors and devices will continue to make a favorable impact for us and meet our customer’s needs.” Added Mr. Goldstein.
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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.
Information Regarding Forward-Looking Statements
This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of US Nuclear Corp. and its directors or its officers with respect to, among other things: (i) expected income; (ii) earnings per share; (iii) revenues; (iv) margins; (v) financing plans; (vi) trends affecting its financial condition or results of operations; (vii) growth strategy and operating strategy. The words “may,” “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “see,” “will,” “would,” “target” “estimate,” “can,” and “potential” and similar expressions and variations thereof are intended to identify forward- looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond US Nuclear Corp’s ability to control, and actual results may differ materially from those projected in the forward-looking
statements as a result of various factors, and the other factors that are described in “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2014. These or other uncertainties may cause our actual future results to be materially different than those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements. More information about the potential factors that could affect the business and financial results is and will be included in US Nuclear Corp’s filings with the Securities and Exchange Commission.
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, or the company’s website at www.usnuclearcorp.com
US Nuclear Corp. (OTCBB: UCLE)
Robert I. Goldstein, President, CEO, and Chairman
Rachel Boulds, Chief Financial Officer
(818) 883 7043